SHIB Price Poised to Soar to New ATH

Sharon Lullaby

According to reports from Zycrypto, analysis by Rekt Capital is based on a meticulous examination of SHIB’s price action, particularly its interaction with historical support and resistance levels.

It notes that SHIB is currently hovering around a critical support point, approximately at US$0.0000279. This figure is not arbitrary; it represents a crucial moment in Shiba Inu’s market history when, during the previous market cycle, the token surged to a new all-time high (ATH) of US$0.0000861.

By drawing parallels between the current market position and past performance, Rekt Capital aims to forecast potential future movements.

The crux of the analysis lies in observing SHIB’s encounter with what Rekt Capital refers to as the blue resistance level. This level has previously acted as a significant barrier to SHIB’s price, determining its ability to rise.

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