Futures Trader Expects Shiba Inu's Incoming Bull Run; Analysts Predict $0.00002408 2023 Price

Shiba Inu showcased a whopping 37% price surge over the weekend, but it appears the bull run is not yet over as analysts predict another incoming bull run and a possible price of $0.0000249 per token this year and $0.00002408 in 2023.

They say good things come to those who wait, and this may be what many SHIB holders were thinking, especially those who held onto their investment despite the market crash, when they saw the yield the humble dog-themed altcoin brought them during the weekend bull run. However, veteran trader and Futures trader Peter Brandt has a lot more interesting predictions about SHIB.

The veteran trader, who was among the first to notice an incoming volatile move on Shiba Inu by sharing the crypto asset's forming bottom pattern a day before the 25% price surge, recently suggested that Shiba Inu has entered a bullish cycle and would move up eventually.

Brandt's prediction is based on the crypto asset's completion of the reversed H and S pattern, which technically suggests that it is ripe for a reversal. Moreover, the 25% thrust boldly leans on the side of an incoming bull run, reflecting investors' bullish appetite to support the dog-themed altcoin.

There is so far no concrete explanation on why SHIB is poised to trade higher, but the crypto asset showed a heavy trading volume that increased by 113.8% Monday. Many investors are convinced that the heavy volume and the positive momentum would continue to push Shiba Inu to have a bull run.

WalletInvestor, a cryptocurrency technical forecasts provider, offered a one-year price forecast of $0.0000149 for the crypto asset. Cloud-based management system Crowd Wisdom, on the other hand, expects that SHIB would trade at $0.0000249 per token in 2022. Meanwhile, cryptocurrency encyclopedia CoinPedia estimated a price of $0.00002408 per SHIB for 2023.

Cryptocurrency aggregator CoinmarketCap listed Shiba Inu as the top trending crypto asset, followed by Binance native token BNB and FLUX in second and third places, respectively. SHIB also placed 12th on the list of cryptocurrencies ranking in terms of market capitalization, with Bitcoin and Ethereum still occupying the first and second spots.

SHIB was trading up 3.25% at $0.00001604 with a 24-hour volume of $1,539,699,073 as of 4:17 a.m. ET Tuesday, based on the latest data from CoinMarketCap.