Renowned cryptocurrency analyst Zach Humphries forecasts a massive price surge for Shiba Inu (SHIB), the second-largest meme coin. According to Humphries, SHIB could experience a five- to sixfold increase, driven by current market dynamics and Ethereum's growth trajectory.
Key Predictions and Market Dynamics
Breaking Resistance Levels
Humphries highlights SHIB's potential to breach the $0.00002960 resistance level, which could trigger a bullish rally. In his YouTube analysis, he explains:
"If SHIB breaks that $0.00002960 level, look out… we could start to make another push back into the mid-threes. As long as ETH reaches $7,000–$8,000, we’re likely seeing a 5x–6x surge for SHIB."
Ethereum’s Role in SHIB’s Growth
SHIB’s upward momentum is closely tied to Ethereum’s performance. Humphries notes:
"Shib and Pepe are primed and ready to go. Ethereum is starting to show signs—it’s quiet now, but not for long."
👉 Why Ethereum’s surge could boost meme coins
On-Chain Data Signals Bullish Sentiment
- 82% spike in SHIB’s Large Holders Netflow (per IntoTheBlock).
- 2.4 trillion SHIB (~$72M) moved into whale wallets, reducing selling pressure.
Current SHIB Price and Trends
At press time, SHIB traded at $0.00002729, down ~3% in 24 hours. Despite short-term volatility, the long-term outlook remains bullish.
Why This Matters
The predicted surge positions SHIB as a high-potential asset amid crypto market volatility. Key factors driving optimism:
- Ethereum’s growth spillover.
- Reduced selling pressure from large holders.
- Technical breakout potential.
👉 How to capitalize on meme coin rallies
FAQ
1. What price target is Zach Humphries predicting for SHIB?
Humphries anticipates a 5x–6x surge if SHIB breaks $0.00002960 and ETH hits $7,000–$8,000.
2. How does Ethereum’s performance affect SHIB?
As an ERC-20 token, SHIB benefits from Ethereum’s network upgrades and price rallies, often mirroring its momentum.
3. What does the spike in Large Holders Netflow indicate?
An 82% increase suggests whales are accumulating SHIB, signaling confidence and reduced immediate sell pressure.
4. Is now a good time to invest in SHIB?
While past performance doesn’t guarantee future results, Humphries’ analysis and on-chain data suggest strong upside potential.
5. What are the risks of investing in meme coins?
Meme coins are highly volatile and speculative. Diversify investments and only allocate disposable funds.
6. Where can I track SHIB’s price movements?
Use trusted platforms like OKX for real-time data and trading.
Final Note: Always conduct independent research before investing. The crypto market is unpredictable, and while analysts provide insights, prices can swing rapidly.