The Shiba Inu (SHIB) ecosystem had a fairly good 2024. The meme coin witnessed a 137% spike throughout the past 12 months, pushing the asset to reach a yearly peak of $0.00003592. Despite this surge, SHIB remains 79% below its all-time high of $0.00008845. In addition, the asset seems to be struggling to eliminate a zero.

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Shiba Inu Recovers From Dip

At press time, SHIB was trading at $0.0000179, with a 0.06% dip over the past 24 hours. Earlier today, the meme coin was trading at a low of $0.0000171, but the asset rose to a high of $0.0000180.

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Even though October is considered a bullish month, Shiba Inu was moving rather slowly. Amidst this bearish atmosphere, an analyst brought back optimism into the market with his latest prediction.

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According to the expert, Shiba Inu Coin has responded slightly favorably to a hidden bull divergence pattern, which further indicates a notable increase in price. The analyst said the meme coin would be ready for expansion despite the ongoing market turbulence.

If the current breakout holds, the price objective of $0.000081 will stay the same. In addition, there is a chance that it will rise by more than 330% soon. The expert predicts that Shiba may begin an early stage of substantial price continuation.

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Shiba Inu Profit Takers On The Rise

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According to data from IntoTheBlock, the total percentage of Shiba Inu investors making money at the asset’s current price was increasing. At present, 52% of the meme coin holders were at a profit. Meanwhile, those who were enduring a loss weren’t far behind. About 43% of them were drowning in losses.

If Shiba Inu witnesses a 330% rise shortly, more investors will fall under the ‘profit’ category.

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