A cryptocurrency expert has proposed that the price of Shiba Inu (SHIB) could reach $0.0001. He explained in his assessment the reasons why this digital currency might experience a significant price increase, resembling a parabolic trend.
Shiba Inu To Rise To $0.0001 If History Repeats Itself
According to crypto expert Bunchhieng’s analysis, if historical trends are any indication and SHIB follows its past bullish pattern from the 2021 market surge, then it might be able to reach a price of $0.0001.
The analyst worked to address concerns from skeptics about Shib’s price increase, reminding them of crypto’s unpredictable nature. Additionally, he mentioned the rising SHIB burn rate as another potential factor that could boost the value of the meme token.
Bunchhieng’s price prediction also looks feasible when one considers crypto analyst Rekt Capital’s recent analysis, in which he suggested that SHIB was already mirroring its price action from 2021. Back then, he revealed that SHIB, similar to 2021, had successfully retested the $0.000026041 price as a new support level.
More recently, Rekt Capital expressed optimism about Shiba Inu’s potential for another price surge like last year’s. They noted that Shib’s current support is acting as a barrier to its growth and was previously resistance in early 2022.
SHIB Could Indeed Hit $0.0001
Bunchhieng isn’t the only crypto analyst who believes that SHIB can hit $0.0001. Crypto analyst Javon Marks also predicted that the meme coin could rise to $0.0001553 once it hits the $0.000081 price range. Interestingly, these aren’t even the most bullish predictions for Shiba Inu.
Crypto expert Armando Pantoja has shared his expectations for various cryptocurrencies, estimating that the meme coin might reach a value of $0.001 following Bitcoin‘s halving event. On the other hand, analyst Ali Martinez envisions SHIB reaching $0.011 at some point, without specifying an exact timeframe for this potential price hike.
Although there are differing opinions on SHIB‘s price peak in this bull market, it’s safe to say that the cryptocurrency is strongly positioned to reach a new record high. According to an anonymous crypto expert and trader named Xanrox, this event could occur as early as July, with SHIB potentially reaching $0.00008854 during that time.
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2024-04-12 00:04