SHIB is currently one of the most talked-about cryptocurrencies on the market. In the past couple of days, there has been a rise in the price of the memecoin, which has recorded an increase of more than 30%. But will the rise continue?
Peter Brandt is one of the most experienced analysts in the financial markets. He recently stated that Shiba Inu (SHIB) could rise. He shared his analysis via TradingView. In his latest technical analysis, Brandt said that SHIB may have entered a bull cycle.
SHIB: Will the Price Rise Continue?
David Gokhshtein, one of the well-known names in the crypto market, also pointed out that the rise in the price of SHIB may continue. This is in his post on his personal social media account.
Gokhshtein is the founder of Gokhshtein Media and a former US congressional candidate. He said:
“Anyone watching $SHIB right now. It looks like it’s fueling up for another leg.”
It was learned that Shiba Inu has recently attracted the attention of whales and individual investors as well as analysts. SHIB transactions over $100,000 increased significantly in the last 4 months.
In addition, Shiba Inu activity on social media has increased significantly recently.
Dog-themed cryptocurrency SHIB was trying to protect its gains at the time of writing. Shiba Inu , which rose from $0.000013 to $0.000018 with the trend it caught yesterday, is trading at $0.000016.
Bitcoin, on the other hand, is trying to maintain the critical $24,000 level during the same hours. The leading cryptocurrency is at $24,100.
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