Analyst Michael has issued a forecast for Shiba Inu (SHIB) predicting a bullish wave that could lead to new highs. The chart shows the cryptocurrency in the middle of a five-wave impulse structure, with the current wave (Wave 3) expected to be the most powerful and longest. The price target for SHIB is projected to be around $0.0002479 and potentially higher. Support and resistance levels are also highlighted, with an important level at $0.00003747 that, if broken, could lead to a medium-term target of $0.0002. The chart also points out a breakout from a falling wedge pattern, indicating a potential upward move after consolidation. The MACD and RSI indicators also support the bullish outlook. At the time of reporting, SHIB is priced at $0.00001866, down 3.52% for the day. To reach the price target, SHIB would need to appreciate by 1,228%.



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