The Shiba Inu coin, despite its recent decline in value, is catching the attention of analysts as it signals potential for a bullish movement. According to the analyst known as Cantonese Cat, the meme coin is currently showing a strong buy signal based on the L3 Banker Fund Flow Trend Oscillator, an indicator not widely known but gaining traction for its predictive capabilities.
A Closer Look at the Buy Signal
Cantonese Cat has provided an in-depth analysis of Shiba Inu’s recent price trends, utilizing this specific oscillator. In a detailed YouTube video, he discusses SHIB’s price movements and suggests that the coin is poised for a significant increase, potentially reaching a 5x move to its previous all-time high and even aiming for a 2430% increase to a target price of $0.00047.
Shiba Inu and the Larger Altcoin Market
The analysis situates Shiba Inu within the broader altcoin market. According to Cantonese Cat, SHIB is one of ten cryptocurrencies, including Optimism, Avalanche, Cardano, and Chainlink, among others, that are currently flashing a buy signal with the L3 Banker Fund Flow Trend Oscillator. This positions Shiba Inu as a noteworthy player in the crypto space, poised for potential growth.
Understanding the L3 Banker Fund Flow Trend Oscillator
The L3 Banker Fund Flow Trend Oscillator is a technical tool used to evaluate the movement of capital in and out of cryptocurrencies, particularly among significant market participants. The buy signal it is currently showing for SHIB is considered rare, having last appeared in July 2023. During that time, SHIB was valued at less than $0.000008 and remained in consolidation for several months before experiencing a rally in February 2024.
Potential Price Targets for SHIB
While the current buy signal is promising, Cantonese Cat uses Fibonacci levels to forecast potential price targets. The initial target is the 1 Fibonacci extension level, which coincides with SHIB’s all-time high of $0.0000884. For those eyeing a more aggressive surge, he identifies a “crazy target” at the 1.618 Fibonacci extension level, aligning with a price of $0.00047.
Challenges and Ambitions
Reaching this ambitious target of $0.00047 would necessitate SHIB overcoming several resistance levels, both before and after surpassing its previous all-time high. Achieving such a target would mean a 2,430% increase or roughly a 30x leap from its current price. Cantonese Cat speculates that this could be possible by August or September 2025, though he acknowledges that this is an optimistic scenario. A more realistic goal, he suggests, would be a 10x increase from the current price level.
As of now, SHIB is trading at $0.00001733, having experienced a 6% drop in the past 24 hours. Despite the decline, the buy signal provides a glimmer of hope for investors and enthusiasts of the Shiba Inu coin.
