Crypto analyst MadWhale has forecasted a significant price downturn for Shiba Inu, predicting a decline to a lower Fibonacci support level. This is seen as a healthy retracement poised to support future price growth.
MadWhale maintains a bullish long-term view, anticipating Shiba Inu's price to recover and potentially hitting $0.00003200 following this dip. A strong influx of trading volume and backing from major media platforms bolster this optimism.
The price correlation with Bitcoin and Dogecoin, both facing corrections, could impact Shiba Inu's trajectory. However, the overarching sentiment remains positive.
Analyst Investing Haven suggests Shiba Inu could end the year at $0.0000444, aligning with Fibonacci retracement levels, indicating a bullish setup was reinforced in October.
Shiba Inu’s price strength is expected to continue into 2025, with some analysts predicting it will surpass its all-time high. Presently, SHIB is up over 11%, trading around $0.00002642.
