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Shiba Inu Zoomie Ahead? Analyst Who Nailed Bitcoin 2021 Cycle Expects Meme Coin 'Hype To Pick Up' In Few Weeks

Published 06/02/2023, 06:25
Updated 06/02/2023, 07:40
© Reuters.  Shiba Inu Zoomie Ahead? Analyst Who Nailed Bitcoin 2021 Cycle Expects Meme Coin 'Hype To Pick Up' In Few Weeks
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Benzinga - A pseudonymous crypto analyst who correctly predicted the end of Bitcoin's (CRYPTO: BTC) bull market in 2021, believes that Shiba Inu (CRYPTO: SHIB) may be on the cusp of a strong bullish streak in the coming weeks.

What Happened: ‘Pentoshi’ tells his 673,700 Twitter followers, is bullish on SHIB after it broke its resistance at $0.000013.

According to the analyst’s technical analysis, if SHIB can hold above $0.000013, then it is set to make a strong move higher.

See More: Top Indian Apps That Give Bitcoin, NFT Rewards

The analyst expects “hype to pick up in the next few weeks” ahead of the Shibarium launch.

A layer-2 solution constructed on the Ethereum (CRYPTO: ETH) blockchain, Shibarium requires that the tokens of SHIB, LEASH (CRYPTO: LEASH) and BONE (CRYPTO: BONE) are levied to use its Layer 2 blockchain.

Price Action: SHIB was trading at $0.00001437 down 4.33% in the last 24 hours, according to Benzinga Pro.

Read Next: Bitcoin, Ethereum, Dogecoin Slump As Post-Fed Rally Fades: Analyst Says Breaching $25K Looks Difficult For Apex Coin

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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