Shiba Inu (SHIB) is displaying technical signals indicating a potential bullish reversal, with the MACD indicator showing a bullish divergence on the 2-day chart.
Analyst Javon Marks has set a target price of $0.000032 for SHIB, suggesting a 171% upside from the current level of $0.00001178.
Despite concerns about SHIB's large circulating supply limiting price appreciation, increased social media buzz and technical indicators support a positive outlook for the cryptocurrency.
The recent price movements and market sentiment signal a possible trend reversal for Shiba Inu, with potential for further gains towards the target price.