Crypto Analyst Anticipates Shiba Inu Price Surge Over $0.00001
Shiba Inu’s native token, SHIB, has recently shown promising growth after a period of slow progress. A crypto analyst has even gone as far as predicting that the price of SHIB could reach $0.00001, showcasing optimism for the dog-themed cryptocurrency.
SHIB Knight, a crypto analyst and investor, recently shared their thoughts on SHIB’s price movements on X (formerly Twitter). The token has experienced notable price increases, bringing it closer to the desirable $0.00001 threshold.
At the time of writing, SHIB has gained around 1.32% over the past week and is currently trading at $0.000009, according to CoinMarketCap. SHIB Knight revealed a chart indicating SHIB/Tether’s price movements and identified a technical breakout from a downtrend. This breakout suggests that the Shiba Inu token could be on the path to a price recovery, despite previous declines.
In another chart shared by SHIB Knight, an arrow points towards a potential surge to $0.000014. The analyst believes that SHIB has the potential for pumping at any time, advising investors to remain vigilant and monitor the cryptocurrency’s bullish outlook.
Looking further ahead, SHIB has positioned itself for a potential market recovery as the crypto market gradually moves away from bearish trends that have impacted many altcoins. Analyst Ali Martinez shared a chart on X, featuring SHIB’s price trends from November 2023 to February 2024. Martinez predicts that SHIB could experience a significant upswing, with its value potentially surging to $0.010 or even surpassing that mark to $0.011. This milestone would mark a breakthrough for SHIB, as its all-time high since inception has only reached $0.0009.
While this analysis offers promising insights, it is essential to conduct thorough research and consider the risks involved before making any investment decisions.