SHIB is flashing the buy signal according to the same indicator that predicted the DOGE rebound

TL:DR;

The largest native Shiba Inu token is among those that failed to make a new all-time high in the current cycle and even plummeted from the December 8 peak. However, some technical indicators now suggest that the asset’s real breakthrough could be just around the corner. SHIBUSD. Source: TradingView

Along with the rest of the market, the second largest meme coin was slow before the US election, with its price locked in a range between $0.000014 and $0.00002 for weeks.

Once the dust settled and Trump emerged victorious, SHIB also soared, hitting a one-month high of just over $0.0003. After a minor pullback, the asset went back on the offensive early this month, culminating in a rise to $0.0000335 on December 8, its highest level since March this year year

However, not only was SHIB unable to sustain the momentum and enter uncharted territory, it began to fall back hard in the following weeks. The biggest price drop came after the last US FOMC meeting during the broader market decline when SHIB dropped to $0.0000185. This was a 44% drop in less than two weeks.

The asset has managed to regain some ground and now sits around $0.000023. Also, data from popular crypto analyst Ali Martinez shows that he has now issued a buy signal. He forecast a further bounce to $0.000029, which would represent a 25% rise from now and a 55% increase from the December 8 bottom.

The TD Sequential Indicator presented a buy signal at the #ShibaInu $SHIB daily chart, anticipating a bounce to $0.000026 or even $0.000029! pic.twitter.com/N2QZSs0nCl

— Ali (@ali_charts) December 24, 2024

Martinez based his prediction on the TD Sequential, an indicator used to determine market exhaustion in any direction. Remember that the same indicator recently described DOGE and BTC local funds. Given the buy signals for both assets, the price of bitcoin has risen more than 3%, while DOGE has gained more than 6% in just a few days.

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