Shiba Inu Elliott Wave Analysis: 987% Price Surge Predicted

• Shiba Inu could reach a price level of $0.0002, marking a potential 987% increase.
• Elliott Wave analysis identifies SHIB as entering its most powerful upward phase.
• SHIB’s market cap could hit $118 billion, according to some projections.

Analysts predict a massive price surge for Shiba Inu (SHIB), with predictions of a possible 987% rise from its current price. This outlook comes as SHIB enters what analysts believe is its most powerful upward phase based on Elliott Wave theory, as noted by analyst Zach Humphries.

On Monday, Humphries projected that SHIB could reach a price level of $0.0002, which would push its market capitalization to $118 billion. This would far exceed its all-time high of $45 billion in 2021. This target is linked to SHIB’s entry into wave 3 of the Elliott Wave cycle, a phase typically characterized by extended price growth.

Notably, the excitement around SHIB has recently cooled. The coin experienced a 24-hour decline of 8.07% and is now trading at $0.00001691. Over the past three months, the token’s gains have narrowed to just 9.65%, and its market cap has dropped to $9.9 billion. 

Despite this pullback, Humphries believes the d…

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