Shiba Inu (SHIB) Could Rally 294% to $0.00008: Predicts Analyst
Crypto analyst Javon Marks took to X and highlighted that Shiba Inu’s (SHIB) price is “still up by over 100% since breaking out of the displayed resisting trend.” The analyst notes that a run is in effect. Marks has set a target of $0.000081 for the popular crypto, a rise of about 330% from current prices.
$SHIB (Shiba Inu)’s price is still up over 100% since breaking out of the displayed resisting trend which can be letting us know that a RUN is IN-EFFECT!
With prices being broken out, the target is at $0.000081, meaning another +294% upside from here to reach it can take place… https://t.co/768GdhkTAk pic.twitter.com/pVoXrcqkBE
— JAVON
MARKS (@JavonTM1) June 17, 2024
Also Read: Are Investors Giving up on Dogecoin & Shiba Inu Amidst Major Drop?
SHIB’s price has recovered by 4.1% in the last 24 hours but is still down by 14.4% in the weekly chart, 26.8% in the 14-day chart, and 22.4% over the previous month.
The US Securities and Exchange Commission (SEC) ceasing its inquiry into Ethereum (ETH) may have contributed to the recovery. The SEC’s ruling might have improved investor confidence and increased funds coming into the cryptocurrency market. It’s possible that investors are expecting a surge fueled by the SEC’s ruling.
Will Shiba Inu (SHIB) hit a new all-time high?
SHIB is currently down by over 78% from its all-time high of $0.00008616, which it hit in October 2021, about two-and-a-half years ago. The popular memecoin has since struggled to reclaim its 2021 peak.
Also Read: Shiba Inu: SHIB Poised To Surge 56% To $0.00003267: Here’s When
According to the researchers at Telegaon, Shiba Inu (SHIB) will reclaim its all-time high in 2026, hitting a maximum price of $0.0000943 for the year. Changelly analysts also paint a similar picture for SHIB, predicting it to reclaim the $0.00008 level in 2026, hitting a maximum price of $0.0000859914.
Also Read: Shiba Inu: When Will SHIB Recover in Price?
Should the cryptocurrency market have another bull run, SHIB may reach $0.00008 ahead of pundits’ predictions. Should Bitcoin (BTC) regain its former peak and other assets do the same, SHIB might hit the $0.00008 mark significantly earlier than expected.