The post Shiba Inu Price Eyes 300% Surge As Analyst Warns ‘80%+ Drops Are Behind Us’ appeared on BitcoinEthereumNews.com.

Shiba Inu price is gearing up for a 300% surge after a confident Bitcoin analyst predicted a key shift in the crypto landscape. The optimistic forecast comes with the reassurance that the drastic 80%+ crashes that previously plagued the crypto markets are now a thing of the past. Can SHIB price surge 300% in this new market landscape? The SHIB price has risen 7.8% in the last 24 hours to $0.00001824. It is among the top 20 gainers over the past day, as Bitcoin price momentum has pushed the entire crypto market up by 3.2%. SHIB/USDT Price Chart 80% Drops Are Over, What’s Next For Shiba Inu Price? The famous crypto analyst PlanC has predicted that the era of ‘80%+ drops is behind us’. His forecast comes after Bitcoin’s price soared past the psychological barrier of $70,000, breaking an 8-month consolidation zone. I don’t think we’ll see a capitulation correction as extreme as in the past—60% to 70% max. The days of 80%+ drops are behind us. Do you really think Bitcoin would hit $200k and then drop back to $40k, breaking through eight months of solid consolidation support? — PlanC (@TheRealPlanC) October 29, 2024 PlanC also noted that Bitcoin has “tons of room to run” and said the current BTC price is “Base Camp.” This is important for Shiba Inu price because the meme coin has a sizeable 82% correlation with Bitcoin on the 3-day timeframe and 76% on the weekly timeframe. This means that when Bitcoin’s price moves higher or lower, there is a high likelihood that the price of HSIB will follow the same trend. According to PlanC, BTC has had four major summits (tops) since its inception, in which BTC’s price corrected into a bear market every time.  The reading on the Glassnode Entity-Adjusted Short-Term Holder…

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Filed under: News - @ October 29, 2024 6:26 am