For a 23% Shiba Inu (SHIB) Rally?

Shiba Inu (SHIB) price is expected to see a 43% rally before the meme coin falls victim to the broader market volatility.

However, SHIB has the support to start the recovery of not only the market but also the investors.

Shiba Inu Investors Prepare for Rally

The value of the Shiba Inu has seen the impact of investor actions in the past. The meme coin tends to react positively to the aggressive action from them, which is the expected outcome at this point. SHIB is in an opportunity zone based on market value to real value (MVRV) ratio.

The MVRV ratio controls the profit and loss of investors. With Shiab Inu's 30-day MVRV of -9.7%, indicating losses, stocks are likely to form. Historically, SHIB has recovered at MVRV levels of -9% and -19%, marking it as an accumulation opportunity zone.

Therefore, investors can benefit from the latest rally if they stock SHIB at current prices.

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This price increase may be in response to broader market pressure caused by the Bitcoin halving event. The Bitcoin mining halving, set to take place over the next 12 hours, will slash its reward by 50%, sparking a historic rally.

With SHIB and BTC currently sharing a high correlation of 0.83, MemCoin can ride this bullish wave.

As a result, the value of the Shiba Inu will also increase.

SHIB Price Forecast: See Increase

The price of Shiba Inu, which is trading at $0.00002311 at the time of writing, is about to start a rally, which is expected to push the meme coin to $0.00002835. SHIB could rise by 23% on higher broad market signals unless it can turn the $0.00002584 resistance into support.

This will allow MemCoin's symmetrical triangle pattern to retry to reach its 43% support target.

Read More: Shiba Inu (SHIB) Price Prediction 2024/2025/2030

However, if the $0.00002039 support is lost, the value of the Shiba Inu could drop significantly. The downside potential drops MemCoin to $0.00001473, devaluing bullish tokens.