Crypto influencer Oscar Ramos (@realOscarRamos1) has sparked discussion within the Shiba Inu (SHIB) community with his bullish prediction for the meme coin’s price.
Ramos believes SHIB’s recent rally strengthens the possibility of the asset reaching $0.0001 within the current market cycle. This prediction comes after Shiba Inu’s price climbed to $0.000027 in 24 hours, reaching levels last seen in early 2022.
An Important Message to All $SHIB Investors.
I believe $0.0001 #SHIB is 100% Happening for @Shibtoken❤️&🔁 so the unaware join the #SHIBARMY pic.twitter.com/81Sc1jQA82
— Oscar Ramos (@realOscarRamos1) March 3, 2024
Read Also: What 100 Million SHIB Will Be Worth When Shiba Inu Price Hits $0.001 Or $0.01
Factors Influencing the Prediction
Several factors inform Ramos’s optimistic forecast for Shiba Inu. Firstly, his experience colors his perspective. Having witnessed Shiba Inu’s explosive growth in October 2021, he acknowledges the significant impact that hype, fear of missing out (FOMO), and retail investor participation can have on the price of the meme coin.
Secondly, Ramos emphasizes the feasibility of a $0.0001 target compared to more ambitious predictions suggesting Shiba Inu could reach $0.01 or even $1.
He compares SHIB’s market capitalization to established cryptocurrencies like Ethereum and XRP. In his view, if Shiba Inu captures a larger market share relative to these assets, a price of $0.0001 becomes a more realistic possibility.
Shiba Inu’s Growing Popularity and Supporting Trends
To bolster his argument, Ramos references various sources highlighting Shiba Inu’s growing popularity. One source identifies Shiba Inu as the fourth-most traded cryptocurrency, with a significant number of Ethereum whales accumulating the asset.
Whales, referring to investors holding large amounts of cryptocurrency, can significantly influence market prices. Ramos points out that the price of Ethereum, the blockchain network upon which Shiba Inu operates, has yet to experience a major upswing compared to the broader market. Historically, when Ethereum surges, it tends to drive up the prices of other Ethereum-based tokens like Shiba Inu (SHIB).
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Read Also: Google Bard Predicts When Shiba Inu (SHIB) Will Reach $0.001, $0.01, or $0.1 Price Point
Crypto Market Bull Run and Altcoin Season
Looking ahead, Ramos emphasizes that the current crypto bull market is in its early stages. A significant event on the horizon is the upcoming Bitcoin halving, estimated to play out in April 2024.
The halving is a pre-programmed feature within Bitcoin’s code that reduces the amount of new Bitcoin rewards issued to miners by half. Historically, these halving events have been followed by periods of strong growth in the crypto market.
Another potential tailwind for Shiba Inu is the anticipated arrival of an “altcoin season.” This refers to a period in the crypto market cycle where altcoins tend to outperform Bitcoin.
Although Ramos is targeting $0.0001, Shytoshi Kusama, the lead developer of SHIB recently called a $0.00012 target an underestimate. SHIB has climbed further since Ramos’s analysis, and it currently sits at $0.00003307, up 51.27% in 24 hours.
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