The Shiba Inu marketing team has signaled confidence in the meme coin’s potential to reach new price levels. Lucie, the official marketing lead, endorsed a bullish price target of $0.00001200 for SHIB. The statement came through social media engagement with crypto analyst SHIB KNIGHT.
SHIB KNIGHT shared a technical analysis chart showing Shiba Inu breaking out of a Falling Wedge pattern. This formation typically suggests an upward price movement. The analyst described market conditions as positive again. Lucie’s agreement with this projection has sparked renewed interest among meme coin investors.
The marketing lead also directed attention to the POU initiative. This project aims to compensate Shibarium users affected by a security breach. The “SHIB owes you” program demonstrates the team’s commitment to community support during challenging circumstances.
Current Market Position and Historical Context
Shiba Inu trades significantly below its peak valuation from October 2021. The meme coin reached an all-time high of $0.00008845 during that period. Current prices sit approximately 90% lower than this historical milestone.
At the time of writing, SHIB trades at around $0.00000865 following a 3.62% surge in the last 24 hours. The gap between present values and past achievements remains substantial.
SHIB’s price action over the past 24 hours (Source:CoinCodex)
The proposed target of $0.00001200 would represent meaningful gains from current levels. Investors monitor technical indicators for signs of sustained momentum. Breaking key resistance levels could trigger additional buying interest. Market participants evaluate whether recent patterns signal a genuine reversal.
Technical analysis suggests the Falling Wedge breakout carries bullish implications. This pattern forms when prices consolidate between converging trend lines. A decisive move above the upper boundary often precedes rallies. Traders watch for confirmation through volume and price stability.
Community Initiatives and Ecosystem Development
The POU project addresses a critical incident within the Shibarium network. Users suffered losses from the hack that compromised system security. The compensation program reflects efforts to maintain trust and credibility. Such initiatives play a role in long-term community retention.
In our latest coverage, Binance founder Changpeng Zhao issued warnings about meme coins tied to his social media activity. CZ cautioned investors against tokens created based on his posts. These remarks highlight ongoing concerns about speculative cryptocurrency projects. The warning serves as a reminder about due diligence requirements.
Source: https://coinpaper.com/13724/shiba-inu-official-confirms-major-price-rally-could-happen-soon
