Despite concerns that altseason may be cancelled this bull cycle, seasoned analysts are shutting down the fear, uncertainty, and doubt (FUD) circulating in the market. The skepticism stems from a significant retracement in the altcoin market cap, coupled with a drop in the Crypto Fear & Greed Index to 38, indicating a ‘Fear’ market sentiment. However, historical trends suggest that such pullbacks are normal before altcoins rally toward new highs.
Shiba Inu Price Chart Hints at Two Explosive Bull Runs
As Q1 moves into its second month, analysts anticipate significant price surges for Ethereum (ETH) and altcoins, leading up to the peak of this cycle’s altseason. Several altcoins have already begun to pump, with some setting new all-time highs (ATHs). Analysts remain confident that Ethereum will achieve a new ATH this cycle, acting as the catalyst for the altseason’s peak phase.
Among the standout performers, Shiba Inu (SHIB) is flashing strong bullish signals, hinting at an explosive rally. Technical analysts suggest that SHIB has already confirmed bullish patterns, breaking through key resistance levels and setting its sights on higher price targets.
Shiba Inu’s Price Projection: 393% and 840% Gains?
One prominent analyst predicts a substantial SHIB rally, emphasizing a key breakout above a previously strong resistance. According to the analysis, SHIB’s price target of $0.000081 is now in play, reflecting a potential 393% pump from current levels. Additionally, strong buyer support during recent dips has led to massive seller rejection, indicating a potential sentiment shift toward a bullish phase.
If momentum continues, SHIB could climb further, hitting its next major resistance level at $0.0001553—a staggering 840% gain from current prices. With rising investor confidence and bullish chart patterns, SHIB appears poised to play a crucial role in the anticipated altseason rally.
Also Read: SUI Eyes 47% Surge to $5, With Bullish Sentiment Driving Price Action Above $3 Support
While market sentiment remains cautious, historical trends and strong technical indicators suggest that altseason is far from over. With Ethereum’s upcoming moves and SHIB’s promising price trajectory, the coming months could see explosive gains across the altcoin market.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
