Renowned crypto analyst Ali Martinez suggests a potential bullish surge for Shiba Inu (SHIB), the meme-inspired cryptocurrency, predicting a 20% upswing if it manages to breach the upper boundary of a descending parallel channel at $0.00002444. Martinez’s analysis, depicted in a chart attached to the post, indicates SHIB’s trajectory aiming at surpassing this crucial resistance level.
Today’s cryptocurrency market saw a notable uptick, particularly for meme-based digital assets. According to data from CoinMarketCap, the meme cryptocurrency sector experienced a significant 5.56% surge in capitalization, amounting to a staggering $52.94 billion. Trading volumes for the meme-inspired tokens surged by over 118%, underscoring the heightened interest and activity within this niche.
Leading the charge alongside SHIB are other meme coins like Pepe Coin (PEPE) and Dogecoin (DOGE). This surge in meme coin activity coincides with the resurgence of interest in the crypto space, possibly fueled by the return of Keith “Roaring Kitty” Gill to the limelight.
“Roaring Kitty” is back
Gill, notable for his involvement in the GameStop (GME) stock short-squeeze saga in 2021, has once again become a prominent figure in financial discussions.
pic.twitter.com/YgjVqtgcNS
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
A former financial advisor and investor, Gill became widely known for his bullish stance toward GameStop. His enthusiastic and persuasive posts attracted a large following in the online trading community, influencing many retail investors to buy shares of GameStop, creating a sort of cult.
While SHIB stands out among its meme coin counterparts, Martinez’s forecast injects a renewed sense of optimism into its trajectory. The potential 20% upswing, contingent upon breaching the resistance level, could herald a significant bullish trend for the SHIB community.
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