Cryptocurrency analyst, Captain Toblerone recently provided insight into Shiba Inu (SHIB) future trajectory using Elliot wave theory. This suggested that the recent price correction of the meme coin was simply part of a larger picture, and the analyst was predicting that the meme coin would reach recent all-time record (ATH) on the next dais.

SHIB price is heading towards USD 0.00022

Captain Toblerone common Shiba Inu chart on its X platform (formerly Twitter), which showed that Shiba Inu will rise as high as $0.00022000 when the third wave of the five-way sequence occurs. The chart shows that sequence wave 2 has currently taken place and SHIB has witnessed a corrective move.

An escalate to $0.00022000 would result in: recent all-time record (ATH) for the second largest meme coin by market capitalization, with a current ATH of $0.00008845. Captain Toblerone’s analysis also indicated that the Shiba Inu may have hit it recent ATH in September This year. Interestingly, the Shiba Inu price is not expected to top there as the chart also showed that the meme coin may hit another ATH when Wave 5, which is also a bullish move, occurs later.

Meanwhile, SHIB is facing a second wave of recovery, with the meme coin’s value falling by over 7% in the last 24 hours. This comes from his recent impressive price increases when it gained over 15% and even flipped Cardano to become the tenth largest crypto token by market capitalization.

Although the Shiba Inu has once again fallen out of the top 10 rankings due to the recent price drop, the meme coin could easily climb back into the top 10 if it eventually rises to $0.00022 as Captain Toblerone predicts. The Shiba Inu undoubtedly has bullish momentum to enjoy such a price escalate since this bull run is underway expected be a meme supercycle.

The Bitcoin analyst is also bullish on the Shiba Inu

Crypto analyst and early Bitcoin investor Jeremy Davinci recently confirmed his bullish sentiment towards the Shiba Inu breed. In the post, X mentioned that the meme coin will explode and grow up to $0.00006000 when will this downward trend end? He then revealed that he would want to collect more SHIBsees a chance to make money.

Crypto analyst Oscar Ramos Also recently mentioned that SHIB is intended to operate up to the current ATH and “above”. He added that the meme coin is poised to lose another zero and rise to $0.0001. The cryptocurrency analyst had previously underlined this price level as a target for Shiba Inu in this bull run.

According to the data, at the time of writing, the Shiba Inu price is around $0.00002604, which has dropped in the last 24 hours. data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com