Shiba Inu Analysts Forecast New All-Time High Amid Wave Correction

Market analysts have presented a bullish outlook for Shiba Inu (SHIB), predicting that despite a transitional Wave B correction phase, the coin could soon enter a substantial upward rally. The analysis suggests that SHIB may temporarily dip by as much as 54% to around $0.0000055 during this correction—an important retracement as outlined by the Elliott Wave theory. Once this phase concludes, experts expect SHIB to bounce back dramatically, potentially reaching targets around $0.00010 or even $0.00023, based on diverse chart patterns and divergence indicators. In addition to technical signals such as a positive MACD and an oversold Stochastic RSI, a notable increase in the token burn rate has reduced circulating supply, further enhancing the bullish case. Overall, the report underscores that while short-term volatility is expected, the long-term prospects for SHIB remain highly positive, driven by historical patterns, supply dynamics, and robust technical indicators.