Shiba Inu Could Increase 75% If It Holds Current Level – Analyst Shares Price Target

Shiba Inu (SHIB) recently rallied 80%, then retraced 25%, but maintains strong support. InvestingHaven's analysis points to a bullish outlook for 2024, citing a key Fibonacci retracement level. Breaking above this level could propel SHIB to higher price targets, potentially reaching $0.0000444 or even $0.0000555. Currently, SHIB consolidates around $0.0000258, facing resistance near $0.000026 and $0.000028. A breakout above $0.000026 could trigger a more significant upward move. Failure to break resistance might lead to continued sideways trading or a price decline. The next few days are crucial for determining SHIB's direction. Investor confidence remains high due to the bullish predictions and strong support levels. Market participants keenly observe SHIB's price action for indications of its next major move.