Despite the recent market upswing, Shiba Inu (SHIB), the popular memecoin, continues to struggle, with its price plummeting by 8% weekly, bringing its market value below $15 billion. This decline has raised concerns among investors, but some analysts remain bullish, predicting a successful few months ahead for SHIB.

On social media platform X, user Mags shared a price chart indicating that SHIB's value could surpass its all-time high of $0.00014 by September. They warned investors that the current level might be the last chance to buy SHIB before it rises. Mags highlighted $0.00002100 as a significant resistance level and revealed a personal investment in SHIB at $0.00000950, which has yielded a 165% return due to the token's recent bull run.

CryptoYoddha, another analyst, predicts a bullish trend, forecasting a price rise to $0.000075 by the end of 2024, a 200% increase from the current valuation. They believe SHIB won't be the only memecoin to surge, predicting a bright future for Pepe (PEPE) and Dogecoin (DOGE) as well.

Notably, Shiba Inu's price drop occurred despite increased activity from large investors, with a whale accumulating over 715 billion SHIB and two others purchasing 1.35 trillion tokens. While whale activity can create positive sentiment, it can also lead to sharp declines if they decide to sell their assets. As the basic principles of economics dictate, prices rise with scarcity and increased demand, not abundance.

In conclusion, Shiba Inu's price slump has raised concerns, but some analysts remain optimistic, predicting a successful few months ahead. With large investors actively accumulating SHIB, the memecoin's future remains uncertain, leaving investors to ponder its next move. Will SHIB rise to new heights or continue its downward trend? Only time will tell.