Crypto analyst SHIB Knight shares his strategic plan to purchase Shiba Inu at a critical level, expecting a significant price surge to follow the ongoing accumulation phase. Amidst Shiba Inu’s struggle to maintain recent gains, SHIB Knight remains optimistic about the potential for a “massive pump” in the near future.
The recent spike in SHIB’s price to $0.00003 was met with resistance, leading to a retracement. However, SHIB Knight sees this as an opportunity to accumulate more tokens at a lower price point. With SHIB trading at $0.00002637, above the crucial $0.000025 level, the focus now shifts to defending the support at $0.000026.
Despite the current correction pushing SHIB below the $0.000026 mark, analysts like SHIB Knight believe that Shiba Inu’s price action is indicative of an accumulation phase before a potential price explosion. This sentiment is further supported by significant token acquisitions by whales and institutional investors during this period of discounted prices.
Looking ahead, various price targets have been proposed for Shiba Inu, with some analysts predicting targets as high as $0.0000886 and $0.00006. As Shiba Inu currently trades at $0.00002560, it is crucial for SHIB to maintain support above key levels to avoid further declines.
Technical indicators, such as the relative strength index (RSI) and commodity channel index (CCI), suggest that SHIB still has room for growth despite recent weakness. This analysis aligns with SHIB Knight’s perspective, reinforcing the expectation of a potential “massive pump” in the foreseeable future.
