A prominent crypto analyst expects almost 8x returns in the coming weeks for SHIB.
Meanwhile, traders are also backing new meme coin Sponge V2 to explode 100x, following in the footsteps of the team’s first endeavor.
Javon Marks Forecasts Falling Wedge Breakout Catapulting Shiba Inu 8X
Renowned analyst Javon Marks has made an ambitious prediction for Shiba Inu, speculating it could explode 8x to its all-time high in the coming months.
Javon Marks claims a “massive pump is due,” referencing a falling wedge chart pattern breakout on SHIB’s 3-day price chart.
The analyst notes that a similar breakout is forming which propelled SHIB to its all-time high in 2021, suggesting that history could repeat itself.
“SHIB MASSIVE PUMP IS DUE.
With a similar breakout that sparked a SHIB‘s price run to all-time highs recently retaking place, these prices now can be all-time high ready again and a >8X (Over +740% Gain) can take them there.”
Javon Marks originally posted the tweet in December 2023, but updated it on 2 January 2024 with Shiba Inu progressing.
When he first published the prediction, SHIB traded at $0.0000101, but climbed to $0.0000107 by January.
It is worth mentioning that Javon Marks does not expect SHIB to pause once it reaches its ATH, instead predicting it will climb higher.
The prediction was also quote tweeted by prominent Shiba Inu community member SHIB Bezos, who is also massively bullish on the project.
That said, with other meme coins like Pepe and Bonk gaining significant ground in recent months, it remains to be seen if SHIB will gather momentum in the next bull run.
In the last cycle, SHIB was fresh, exciting, and offered tremendous room for growth. However, with a market cap of $5.6 billion and many potential holders already invested, traders seek new alternatives for explosive gains in the upcoming bull run.
One of the top new projects gathering steam is Sponge V2. Its team boasts a successful track record, reaching a $100 million market cap with the original rendition.
As such, investors are backing the new one to 100x, too.
100X Meme Coin Sponge Relaunches 2nd Rendition, Analysts Predict It Will Explode
Alongside the infamous rise of Pepe in May 2023, a compelling token paying homage to SpongeBob SquarePants, Sponge, also exploded.
It reached a $100 million market cap, netting early investors a 100x ROI and securing listings on ten prominent exchanges. It also boasted accolades like 13K holders and 30K social media followers within its first few days.
However, the team aims to supercharge these metrics with its new release, Sponge V2. The token comes packed with new utility through a Play-to-Earn racing game, enabling users to earn free crypto while bolstering $SPONGEV2’s demand.
According to its roadmap, Sponge V2 will also aim for more CEX listings, bolstering its reach and liquidity potential.
Analysts are also bullish on Sponge V2 with Crypto Gains speculating it could 100x like the first one did.
Meanwhile, Alessandro De Crypto urged his subscribers to “buy before its over” as the Sponge V2 buy and stake campaign is quickly selling out.
Buy and stake is the project’s way of distributing tokens to investors. While the campaign is ongoing, the only place to buy $SPONGEV2 is on exchanges, and tokens will be locked and earn an additional staking yield until the campaign ends.