---
title: "Here’s Why Shiba Inu’s (SHIB) 10% Daily Correction Could be Good News: Analysts"
url: https://diffcoin.com/heres-why-shiba-inus-shib-10-daily-correction-could-be-good-news-analysts/
description: "Is SHIB preparing for a new all-time high soon?"
published: 2024-12-02
updated: 2024-12-02
author: "Mila"
site: "Diffcoin"
---

# Here’s Why Shiba Inu’s (SHIB) 10% Daily Correction Could be Good News: Analysts

**TL:DR;**

- Shiba Inu surged on Sunday but retraced hard on Monday, alongside the rest of the market.
- However, certain analysts believe this could be the calm before the storm, and they even envision a new all-time high for the popular meme coin.

## SHIB’s Monday Downfall

*CryptoPotato* reported yesterday the positive price developments around the second-biggest meme coin. At the time, SHIB was the top performer from the larger-cap alts, having surged by over 15% on a 24-hour scale. As a result, SHIB skyrocketed to its highest levels since March this year of over $0.000033.

However, the entire crypto landscape changed on Monday, with many assets plunging hard. Bitcoin, for example, dumped from over $98,000 to under $95,000 amid some potential profit taking from whales.

Shiba Inu’s largest native token was not spared either, dumping by nearly 10% on a daily scale to well below $0.00003. However, popular X analyst Diamond-Hands noted that SHIB’s correction could be over now, and the asset seems primed for a new wave up from this point.

> Correction done on [$SHIB](https://twitter.com/search?q=%24SHIB&src=ctag&ref_src=twsrc%5Etfw)
> 
> WE MIGHT GET ANOTHER WAVE UP FROM HERE [#ShibaInu](https://twitter.com/hashtag/ShibaInu?src=hash&ref_src=twsrc%5Etfw) [pic.twitter.com/h6M0Uwz6jB](https://t.co/h6M0Uwz6jB)
> 
> — DIAMOND-HANDS (@TamngwaB) [December 2, 2024](https://twitter.com/TamngwaB/status/1863512567617888722?ref_src=twsrc%5Etfw)

Ali, another well-known technical analyst, has $0.000037 in sight and believes the asset could reach that level as long as it remains above the crucial support at $0.000025, which still holds.

Naturally, there are certain SHIB-related pages that continue to be highly bullish about the asset’s perspective in the near future, highlighting the potential of reaching a new all-time high. To do so, SHIB would need to triple its price from its current levels as its ATH stands at $0.00008616, according to CoinGecko.

## Major Strength

Javon Marks told his nearly 50,000 followers on X that the meme coin’s rally over the weekend had confirmed “another bull pattern,” which shows its potential to be “further joining the bull show.” As such, the analyst noted that $0.000081 is still in play, meaning that SHIB could soon indeed target that aforementioned ATH.

> [$SHIB](https://twitter.com/search?q=%24SHIB&src=ctag&ref_src=twsrc%5Etfw) (Shiba Inu), after recently confirming another bull pattern, looks to be further joining the bull show as prices are now showing signs of MAJOR STRENGTH!
> 
> With holding breakouts implying that $0.000081 target to still be in play, these prices can be subject to another… [pic.twitter.com/lu2QT5FzEg](https://t.co/lu2QT5FzEg)
> 
> — JAVON⚡️MARKS (@JavonTM1) [December 1, 2024](https://twitter.com/JavonTM1/status/1863027463988637923?ref_src=twsrc%5Etfw)

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