Shiba Inu Token ($SHIB) ‘Ready To Break Out’, Says Crypto Analyst Ali Martinez

On Thursday (November 11), a day when 43 of the top 50 cryptoassets (by market cap) are in the red (suffering losses vs USD), highly popular dog meme-based cryptocurrency Shiba Inu ($SHIB) is bucking the trend by going up nearly 8% in the past 24 hours. In fact, $SHIB is one of only three cryptoassets among this group that has gone up today.

According to data by TradingView, today, on crypto exchange FTX, $SHIB got as high as $0.00005780 at 13:17 UTC. Currently (as of 13:45 UTC), $SHIB is trading at $0.00005609, up 7.78% in the past 24-hour period.

As for the past three-month period, $SHIB has gone up 601%.

And if you think that number is impressive, it should be pointed out that $SHIB’s return on investment (ROI) vs USD for the year-to-date (YTD) period is an insane +72,844,055%.

Popular pseudonymous crypto analyst and influencer “Altcoin Sherpa” told his over 146K Twitter followers that he can see $SHIB getting to at least $0.000062 in the short term.

Crypto analyst Ali Martinez is even more bullish, believing that we could be on the verge of a $SHIB breakout to the upside and that if the $0.000062 resistance level is broken, $SHIB could go all the way to $0.000178.

The hosts of YouTube channel “Altcoin Daily” tweeted on Tuesday (November 9) that just 10 wallets are holding 72% of the total $SHIB supply.

And finally, CryptoDiffer tweeted on the same day to say that as of November 9, $SHIB was the top altcoin by social volume.

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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