Current Market Conditions
Shiba Inu is facing challenges in the market, as Bitcoin’s price movements remain muted. This has led to a downturn in the crypto market, keeping prices low.
Long-Term Outlook
Despite the current dip, analysts remain bullish on Shiba Inu’s long-term prospects.
Macro Third Wave
Crypto analyst Crypto Cipher believes Shiba Inu is now entering the Macro Third Wave, after completing the first two waves between late 2023 and early 2024.
Possible Price Points
- If the price holds at $0.000015, it could bounce into the Macro Fourth Wave.
- The Fourth Wave could see a 500% increase from the lows, with a potential upper end of $0.0001.
- After a correction, the Fifth Wave could reach as high as $0.00028, representing a 1,000% increase.
Timeline
The analyst expects this price action to unfold over a long period:
- Fourth Wave: Mid-2024
- Fifth Wave: 2025, concluding mid-year
