Cryptocurrency

Top Bitcoin Analyst Sets His Next Shiba Inu (SHIB) Price Target

Shiba Inu (SHIB) has experienced a recent resurgence, buoying the spirits of its holders. After a relative stagnation, SHIB has climbed over 8% in the past week, briefly reaching $0.00002931 before a price correction sent it to its current level of around $0.000025.

SHIB previously traded around the $0.000029 level in March before experiencing a decline that brought it down to its April 13 low of $0.00001853. Since then, the digital token has struggled to gain significant traction until this recent positive trend.

Read Also: Early Bitcoin Adopter Tells Investors To Trade USDT For Shiba Inu (SHIB). Can Bulls Rule Again?

Veteran Analyst Predicts Further Growth for Shiba Inu (SHIB)

This positive performance has caught the eye of prominent Bitcoin analyst Davinci Jeremie (@Davincij15). Jeremie believes SHIB is near the beginning of a new bullish phase and presents an opportunity for investors to capitalize. He previously advised accumulating SHIB during the market downturn following the initial price surge in early March, anticipating a breakout after the bearish period.

He believes the breakout from the downtrend will occur between the $0.000025 and $0.00003 range. Jeremie is confident that SHIB is poised to reach $0.00006. This would require over 100% increase from SHIB’s current price and sits just below its all-time high of $0.00008845.

SHIB surged by almost 400% in early March, and with the high expectations of the post-halving surges, the meme coin could smash this record significantly. Notably, SHIB last traded around the $0.00006 mark during the peak of the 2021 bull run.

Market Consensus Aligns with Jeremie’s Optimism

Jeremie’s bullish outlook on SHIB is not an isolated one. Several other market analysts have independently projected similar price targets for the meme coin. Captain Toblerone, a prominent analyst in the crypto space, recently predicted that SHIB could surge to $0.00045 based on the current Elliott Wave pattern.

Read Also: XRP Can Play a Big Role In Argentina As Pro-Bitcoin President-Elect Plans To Replace Peso with USD

Despite the bullish sentiment, Shiba Inu developers have shared their strategy to prioritize long-term growth over short-term gains. Although analysts have predicted short-term surges, the developers plan for the long term, ensuring the meme coin can preserve these gains and eventually dethrone Dogecoin to become the biggest meme coin.

While the future trajectory of SHIB remains uncertain, the recent bullish performance and optimism from prominent analysts suggest that the meme coin may be on the cusp of further growth. The next few weeks will be intriguing as the crypto market shifts fully into the 2024 bull run.


Follow us on Twitter, Facebook, Telegram, and Google News

Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

Recent Posts

XRP Price Looks Bleak, Investors Move Into Ripple Alternative Under $0.1 Set To Explode To $5 In Next 2 Months

As the XRP price falters, investors are beginning to find other options. Recent shifts in…

2 hours ago

Which Are The Best Cryptos To Buy Now In November 2024? Top 5 Picks for January 2025

With cryptocurrency adoption on the rise, digital assets are becoming integral to global finance. For…

4 hours ago

$100 In FX Guys ($FXG) Presale Could Change Your Life – Analysts Say It’s On Track To Outpace Ethena And NEIRO By 2025

Crypto market analysts have made bold assertions about the potential of FX Guys ($FXG) to…

7 hours ago

Meme Coin Mania Continues: Analysts Predict These Newcomers Could Deliver 15,000% Returns by Year-End

The surge of interest in meme coins continues unabated as new digital assets promise phenomenal…

7 hours ago

XRP Price Faces Resistance: This RWA Altcoin Could Steal the Spotlight with a 20,000x Surge

XRP price has hit resistance after a recent rally, with several crypto enthusiasts attributing this…

7 hours ago

Turn $500 into $500k: Experts Predict Massive Gains for These Altcoins by 2025

In the dynamic world of cryptocurrency, a modest investment today could potentially yield extraordinary returns…

8 hours ago