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Shiba Inu (SHIB) could skyrocket 20% if this happens
Gamza Khanzadaev
The Shiba Inu (SHIB) community awaits a possible 20% increase, with analyst Ali Martinez’s bullish prediction coinciding with renewed interest in meme coins, sparked by the resurgence of Keith ‘Roaring Kitty’ Gill, known for its role in the GameStop (GME) saga.
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Renowned crypto analyst Ali Martinez suggests a potential bullish surge for Shiba Inu (SHIB), the meme-inspired cryptocurrency, is expected to rise by 20% if it breaks out of the upper limit of a descending parallel channel at $0.00002444. Martinez’s analysis, illustrated in the chart attached to the post, indicates the trajectory of the SHIB which aims to overcome this crucial resistance level.
Today’s cryptocurrency market has seen a notable increase, especially for meme-based digital assets. According to data from CoinMarketCap, the meme cryptocurrency sector recorded a significant increase of 5.56% in capitalization, amounting to a staggering $52.94 billion. Trading volumes for meme-inspired tokens increased by more than 118%, underscoring the increased interest and activity within this niche.
Source: Ali Martinez
Lead the charge at the flank SHIB are other similar meme coins Pepe Coin (PEPE) AND Dogecoin (DOGE). This increase in meme coin activity coincides with the resurgence of interest in the crypto space, likely fueled by Keith “Roaring Kitty” Gill’s return to prominence.
“The Roaring Kitten” is back
Gill, known for his involvement in the GameStop (GME) stock short-squeeze saga in 2021, has once again become a prominent figure in financial discussions.
A former financial advisor and investor, Gill has become widely known for his bullish stance on GameStop. His enthusiastic and persuasive posts have attracted a large following in the online trading community, influencing many retail investors to buy GameStop shares, creating something of a cult.
While SHIB stands out among its meme coin-related counterparts, Martinez’s prediction injects a renewed sense of optimism into its trajectory. The potential 20% recovery, contingent on breaking the resistance level, could herald a significant uptrend for the SHIB community.
About the author
Gamza Khanzadaev
Financial analyst, trader and cryptocurrency enthusiast.
Gamza graduated in Finance and Credit with a specialization in securities and financial derivatives. He then obtained a master’s degree in banking and asset management.
He wants to help cover economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.