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Shiba Inu: Top Analyst Identifies Coin as 'Potential Gold Mine'; Price Analysis Suggests 35% Upside

Shiba Inu (SHIB) viewed as a potential gold mine by top analyst; price analysis suggests 35% upside.

Top analyst Davie Satoshi sees Shiba Inu (SHIB) as a potential gold mine; price analysis predicts a 35% upside.

Key Pattern in SHIB's Price Chart

The Shiba Inu (SHIB) memecoin has caught the eye of many analysts. Davie Satoshi is one of many who think it could grow in value significantly, both now and in the future. He went on to say that SHIB may be a "gold mine."

In Davie's analysis, the ascending pennant on the SHIB price chart plays a crucial role. This pattern, which often appears after a strong uptrend, is characterized by a brief consolidation phase represented by converging price bars.

According to TimesTabloid, it signals a potential breakout and continuation of the previous upward momentum, a critical factor in Davie's optimistic outlook for SHIB.

Bullish Predictions from Experts

More than Davie's research shows, people are optimistic about SHIB. In response to Davie's analysis, Bunny Boy suggests an even more substantial 600% price increase over the following three weeks.

Expected 35% Upside

Coingape also points out a positive 35% upside for SHIB. The crypto news website shares that SHIB's downtrending price action indicates a significant likelihood of a trend reversal coinciding with the burgeoning market recovery. With its 13% increase over the past six days, the meme coin's pattern breakthrough indicates the end of its correctional phase.

The multiple pattern breakout means that there may be a bull run as the base demand rises. This is because the pattern's trapped momentum can now push up the price of the SHIB in the days to come.

Since last night's 1.83% rise, the SHIB price has dropped to $0.0000245 today, a 2.1% drop during the day.

Photo: Microsoft Bing

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