Gushiken Yona
Shiba Inu is reportedly on track for a remarkable price rally of over 400%, potentially soaring to $0.000081, according to the latest forecast by a renowned analyst.
This bullish forecast suggests a staggering over 405% run from its current value, potentially leading to a more than fivefold increase in the meme coin’s price. This target would bring SHIB close to its all-time high of $0.00008616, recorded in October 2021.
The prediction, shared on X by the analyst who uses the handle @JavonTM1 more popularly known as JAVONMARKS’ over 40,000 followers, is based on technical analysis. They highlighted a key resistance trend that SHIB had successfully broken free from. The analyst believes this breakthrough is a strong indicator of an impending and significant price rally.
“$SHIB (Shiba Inu)’s target at $0.000081 has not changed as prices continue to hold well broken free of the once key, displayed resisting trend,” the X post read. “With this being, this could entail an over 405% run from here to be in-development to reach this target. A >5X may be awaiting Shiba,” the analyst added.
While the exact timeframe for reaching this ambitious target remains unclear, the prediction has sparked excitement and anticipation among Shiba Inu investors and enthusiasts. A price of $0.000081 would represent a significant milestone for the meme coin, bringing it tantalizingly close to its previous peak.
This bullish sentiment is echoed by Shib army OG @dhelzkiie7, who shared their excitement on X about SHIB’s impressive 13.94% gain for the day. They emphasized their unwavering belief in Shiba Inu, stating that it consistently overcomes market fluctuations and emerges victorious. The user also suggests that when SHIB starts trending upwards, its price gains can be significant and unstoppable.
“$SHIB is up 13.94% today! Never underestimate #Shib! The market has its ups and downs, but SHIB always prevails. When SHIB starts pumping, it’s unstoppable! NFA,” the X post read.
While the prediction has been met with enthusiasm by many Shiba Inu supporters, it is important to approach such forecasts with caution. The cryptocurrency market is notoriously volatile, and prices can be influenced by a myriad of factors, including market sentiment, regulatory developments, and macroeconomic trends. Investors are advised to conduct their own research and consider their risk tolerance before making investment decisions.
Shiba Inu’s market performance saw a significant surge as of 3:41 p.m. ET on Saturday, with the token trading at $0.000017. This price point reflects a remarkable 16.29% spike in value within the 24-hour timeframe, accompanied by a trading volume of $432,045,734.
While the past week witnessed a minor 0.14% price dip, the past 30 days saw a more pronounced decline of 32.56%. However, the recent surge signals a potential shift in momentum.
According to data from CoinMarketCap, Shiba Inu’s circulating supply stands at 589,270,858,184,226 SHIB. Notably, its market capitalization experienced a robust 16.10% gain, reaching $10,001,055,633. This substantial increase in market cap underscores the growing interest and investment in Shiba Inu within the crypto community.
Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.
The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
Read More
- Shytoshi Kusama Wraps Up Epic Japan Meet and Greet, Shiba Inu Eyes Mumbai Next!
- While You Panic Sell, A Crypto Whale Buys The Dip, Snapping Up Nearly $10 Million in SHIB
- Shiba Inu’s Shytoshi Kusama to Reveal Identity? Announces Meet and Greet with Shib Army in Japan
Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
