SHIB flashes buy signal according to the same indicator that predicted DOGE’s rebound

TL:DR;

The Shiba Inu, the largest native token, was among those that failed to make a new all-time high in the current cycle and has fallen sharply since its December 8 high. However, some technical indicators now suggest that an actual discovery of the asset may be just around the corner.

Along with the rest of the market, the second largest meme coin was sluggish ahead of the US election, with its price stuck between $0.000014 and $0.00002 for weeks.

Once the dust settled and Trump emerged victorious, SHIB shot up as well, reaching a multi-month high of over $0.0003. Following a modest reversal, the asset went on the offensive again at the start of this month, rising to $0.0000335 on December 8 – its highest level since March this year.

However, not only was SHIB unable to maintain momentum and move into uncharted territory, it began searching hard again in the coming weeks. The most significant price slide came after the recent US FOMC meeting, when SHIB dropped to $0.0000185 during a broader market slump. This represents a 44% drop in less than two weeks.

The asset has managed to gain some ground and now sits at around $0.000023. What's more, data from renowned crypto analyst Ali Martinez shows that he has now flashed a buy signal. He envisions a further recovery to $0.000029, which represents a 25% increase from now and a 55% increase from December 8th.

The TD Sequence Indicator has placed a Buy signal on the #ShibaInu $SHIB daily chart, expecting a return to $0.000026 or even $0.000029! pic.twitter.com/N2QZSs0nCl

— Ali (@ali_charts) December 24, 2024

Martinez based his prediction on the order of TD to determine the weakness of the market in both directions. Recall that the same indicator recently revealed the bottom of the area for DOGE and BTC. As those bought tokens for both assets, the price of Bitcoin rose more than 3%, while DOGE gained more than 6% in a few days.