Can Shiba Inu Reach $0.0001?
Despite a strong 2024, Shiba Inu has yet to surpass its previous high of $0.00008. However, a crypto analyst believes it’s on track to reach new heights.
Analyst’s Prediction
Shib Knight, a Shiba Inu community member, has shared an analysis suggesting that support for Shiba Inu is forming around $0.000025. From there, the price could bounce back and rally. The analyst’s target price is above $0.0001, a level it failed to reach during the 2021 bull market.
Timeline
The analyst predicts that Shiba Inu could reach $0.0001 by June 2024. This aggressive timeline has caught the attention of investors.
Market Resilience
Shiba Inu has shown resilience during the recent market crash. While Bitcoin and other cryptocurrencies have suffered double-digit losses, Shiba Inu’s decline has been relatively modest at 6.2%. Only Dogecoin has performed better among top meme coins.
Conclusion
Shiba Inu’s strong performance during the market crash and the analyst’s prediction of a $0.0001 price target suggest that the meme coin could be poised for a breakout. Investors will be watching closely to see if Shiba Inu can reach new heights in the coming months.
