Shiba Inu is soaring in the charts on Friday climbing double digits in the day’s trade. SHIB shot up more than 20% before cooling down to 14% as the day progressed. Its price is now trading at the $0.00001956 level and is attracting heavy bullish sentiments in the charts. The dog-themed token could kick-start a rally this week that could sustain until the first week of October.
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This makes SHIB a ‘strong buy’ in the markets as its price is forecasted to surge in the next two weeks. TradingView flashes a strong buy for Shiba Inu this week as all technical indicators point towards a rally. Investors who take an entry position could make decent profits in SHIB, according to the latest price prediction.
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The technical indicators, especially the moving averages show a ‘strong buy’ for Shiba Inu this week. The other indicators point towards a ‘buy’ indicating that its price could catapult next week. The token is igniting a rally and could sit at a new high during the first week of October.
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Shiba Inu: A 55% Surge on the Cards For SHIB
In addition to TradingView, leading on-chain metrics and price prediction firm CoinCodex remains bullish on SHIB. The price prediction firm has forecasted that Shiba Inu could reach a high of $ 0.00002969 during October’s first week. That’s an uptick and return on investment (ROI) of approximately 55% from its current price of $0.000019.
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Therefore, an investment of $1,000 could turn into $1,550 if the price prediction on Shiba Inu turns out to be accurate. Nonetheless, there is no guarantee that SHIB could spike 55% in the first week of October. The cryptocurrency markets could experience volatility making leading tokens dip in the charts. It is advised to do thorough research before taking an entry position in SHIB.