Top Analyst Alerts SHIB May Be Gearing Up For Bullish Price Action In The Coming Weeks

Key Points:

• SHIB appears solid after breaking through its resistance at $0.000013.
• Polkadot (DOT) is likely going for its immediate resistance level of $7.88.
• Bitcoin is showing indications of weariness after failing to break through resistance at about $23,900 for the second time.

According to a prominent crypto expert who correctly predicted the end of Bitcoin’s (BTC) bull market in 2021, top meme token Shiba Inu (SHIB), might be preparing for bullish price movement in the coming weeks.

Pentoshi, a pseudonymous expert, informs that SHIB appears solid after breaking through its resistance at $0.000013.

But this month, they are launching Shibarium, and it’s own entire ecosystem. Expecting hype to pick up in the next few weeks.

Shibarium, like Polygon, is a highly anticipated layer-2 upgrade for Shiba Inu built on top of Ethereum (ETH) (MATIC). The developers have been tight-lipped about the project’s launch date, but they have promised that the beta version will be available soon.

At the time of writing, SHIB is currently trading at $0.0000143, down roughly 3% in the last 24 hours.

Pentoshi is also keeping a watch on the Polkadot interoperability chain (DOT). DOT, according to the crypto researcher, is likely going for its immediate resistance level of $7.88.

DOT is now trading for $6.68 at the time of writing, down 2.05% over the last 24 hours.

As for BTC, Pentoshi cautions that Bitcoin is showing indications of weariness after failing to break through resistance at about $23,900 for the second time.

Pentoshi’s chart suggests a probable slide down to the $20,500 barrier for Bitcoin. Bitcoin is currently valued at $22,920 at the time of writing.

Meanwhile, Santiment, a behavior analytics platform for cryptocurrencies, reported on February 4 that the largest Bitcoin transaction in 4 weeks took place. This brand new whale address went from nothing to suddenly holding ~13,369 BTC (worth ~$313.1M) after a single transfer.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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