**Summary**
– A crypto analyst noted that the second-largest meme coin has lost a crucial support line, potentially leading to a further 30% decline or more.
– On the other hand, another market strategist suggested that SHIB’s current price movements form part of a large Inverse Head and Shoulders pattern, which could result in a 400+% increase.
Ali Martinez warned that SHIB’s recent declines—a 4% drop over the past week and over 23% since last month—indicate the loss of a key support level between the $0.000019 and $0.00002 lines. The coin has fluctuated around this level for months, briefly surpassing it in summer 2024, but it recently fell to its lowest point since September. Martinez cautioned that SHIB might plummet further to $0.000011 or even $0.00008, representing declines of 30% and 50%, respectively.
In contrast, Javon Marks, another analyst with a significant following, offered a more optimistic view. He suggested that SHIB’s price movements are consistent with an Inverse Head and Shoulders structure, predicting a potential rise to $0.000081—a 420% increase from current levels.
Twitter:
– Ali (@ali_charts) highlighted the loss of key support levels for SHIB, suggesting major support to watch at $0.000011 and $0.000008.
– Javon Marks (@JavonTM1) maintained that SHIB prices are holding within a large Inverse Head & Shoulders pattern, with a target of $0.000081 still possible.
