Shiba Inu (SHIB) has been showing great resilience versus the selling power of the bears for some time. Due to the strong resolve of the investors, the trading price of Shiba Inu may end up earning a strong rally.
Shiba Inu Expects a 60% Upsurge
According to the analysts, Shiba Inu bulls have successfully given a tough time to the bears. In the past few days, they have not only proven their resilience but also their ability to keep pushing forward.
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It is because of this strong will that the bulls have successfully formed a catalyst. It is because of the catalyst the analysts are suggesting that Shiba Inu may be getting ready for yet another strong rally.
However, the expectations are that this time, the rally maybe 60% and help SHIB recover tremendously against its losses from the beginning of the year until now.
Shiba Inu Price is around the POC
At the moment, the trading price of Shiba Inu is hovering near the point of control (POC). This means that the trading value of SHIB is currently hovering around the highest value it has managed to hit in the past three months.
According to the price graph of Shiba Inu, the POC can be established at $0.0000118. In the past three months, the bulls have continued to contribute to the strong resilience of SHIB.
This way, they have managed to keep SHIB above the POC level. However, keeping it above that level is not the only thing the bulls have managed to achieve, they have even moved it further from that.
Lack of Resistance at $0.0000199
The price chart for Shiba Inu shows that if the price of SHIB reaches the $0.0000199 mark, it won’t face much resistance there. As the particular mark is not strong enough for the bears, they will not give bulls much of a tough time.
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If the bulls are able to make it closer to a particular level, they may find it easier to cross the particular mark.
If the price of SHIB explodes, then it would mean SHIB would experience at least a 60% rally. Under these circumstances, SHIB may not witness many headwinds or difficulties that may hinder its path, stopping it from a great rally.
Going forward, Shiba Inu may attempt to gain more exposure in the metaverse and the decentralized finance sector to increase its utility. This way, it will be able to sustain its high value and muster up the strength to form a stronger rally.
This way, the trading price of SHIB may be able to witness yet another strong (140%) rally.