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Shiba Inu (SHIB) has become a token with intense price speculation as analysts believe SHIB could surge by over 500% soon, potentially hitting $0.0001 Elliott Wave analysis from the trader CaptToblerone points to a potential sharp recovery. The analysis suggests SHIB completed a corrective phase around $0.0000055. It then indicates a five-wave uptrend, with prices rising in a clear sequence. If this pattern plays out, SHIB could climb toward $0.00014, a tenfold increase from current levels. Notably, the Elliott Wave theory has accurately predicted past SHIB movements. Some traders now anticipate SHIB breaking its previous all-time high of $0.00008616. However, SHIB also experienced a recent downturn, following an ABC Elliott Wave pattern after rallying to $0.00004567 in March 2024. SHIB currently trades in Wave B, around $0.00001189. This suggests potential further correction, with some analysts expecting a dip to $0.0000055 before the predicted surge. Should this correction happen, analysts believe it could set the stage for the larger uptrend towards the $0.0001 target. Related: SHIB Army Watches Closely: Descending Triangle Nears Apex A $0.0001 price target for Shiba Inu is not far-fetched. At that level, SHIB’s market capitalization would reach roughly $58.9 billion, a significant increase from its current standing. This price target seems achievable especially considering SHIB’s historical price action and recent trends. Key factors support a potential SHIB price rise; a major one being its burn rate. A higher burn rate means more tokens removed from circulation, increasing the value of the remaining tokens. Also crucial: increased activity on Shibarium, the SHIB Layer 2 network. Expansion and greater utility for Shibarium could spur user adoption and significantly boost demand for SHIB itself. Finally, rising open interest signals bullish sentiment. Recent data shows SHIB’s open interest recovering strongly, exceeding $116 million. Related: SHIB Holds #2 Meme Rank, But Can It Survive This Critical Support Test? This indicates traders are increasingly betting on price increases, some holding SHIB for the long term. This rising open interest, combined with positive funding rates, supports the idea of significant price moves for SHIB soon. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

The Dogecoin community and the Bitcoin community have engaged with each other recently following MicroStrategy chairman Michael Saylor’s recent comments wherein he shared his Bitcoin vision, while comparing BTC to the game of chess. However, the Dogecoin team disagrees with this analogy, stating that Bitcoin resembles a very different game from chess. In response to Michael Saylor’s recent bullish Bitcoin statement amid market uncertainty, the official Dogecoin account shared a contrasting perspective on X. Earlier this week, on Wednesday, Friday, 16, Saylor posted an AI-generated image of himself seated at a chessboard with pieces arranged across it. For this image, Saylor used the caption: “Bitcoin is chess,” thereby comparing BTC to a strategic, intricate asset requiring intelligence and patience to navigate. However, the Dogecoin team has playfully countered it by comparing Bitcoin to the children’s game “Hungry, Hungry Hippos.” Thus, the DOGE team wants to convey that BTC trading is more about chaotic frenzy and impulsive behavior rather than the careful strategy Saylor alluded to in his post. This week, Bitcoin, the world’s leading cryptocurrency, has displayed notable volatility. On Tuesday, it fell by 3.23%, rebounded with a 2.34% surge, and then dipped again following comments from Jerome Powell. Despite these fluctuations, the price remained above $83,000 during the declines. Currently, Bitcoin is trading at $84,934, reflecting a recovery of just under 2%. Popular crypto analyst Javon Marks has highlighted a significant regular bullish divergence in Dogecoin’s (DOGE) price action, suggesting that bearish momentum may be waning. “This data could be signaling that bears are weakening and a substantial bullish reversal is on the horizon,” Marks stated. According to his analysis, Dogecoin could experience a dramatic recovery, potentially soaring over 150% to reclaim the $0.40+ price level, as highlighted in the previous story. Market watchers are keeping a close eye on this potential breakout as optimism grows within the DOGE community. This April marks two years since Dogecoin, the popular meme cryptocurrency, became a symbol of Twitter, fueled by Elon Musk’s well-known affinity for DOGE. In early April 2023, Twitter users were caught off guard when the platform replaced its iconic blue bird logo with Dogecoin’s Shiba Inu emblem. This change stirred excitement across the Dogecoin community, sparking speculation that Musk was planning to integrate DOGE into Twitter’s ecosystem for tipping or even payments. The move led to a significant market reaction, with Dogecoin’s price surging approximately 30% during the week.

Shiba Inu may be gearing up for a bullish breakout! 📈 RSI shows recovery, testing key levels. Will $SHIB surge? 🐕‍ 🔎

3. SHIBA INU $SHIB SHIB is struggling to regain momentum. Now at $0.00001189, the burn rate is down 98%, limiting price action. A push above $0.00001252 could flip the trend.

Nothing less than expected - the dog with currnetly biggest mindshare in crypto. $COCORO is gaining momentum, smashing 2x from the bottom call. 💥 2025 is the year of the Black Shiba Inu - no need for Trump, Elon or Vitalik to post. Narrative and fundamentals are rooted in the crypto culture. Whales, KOLs & smart money is accumulating. Once Ethereum breaks out, breaks off for the next $NEIRO.