Shiba Inu Poised to Hit $0.0001 in June, Says Leading Analyst

4 June 2024

in SHIBA

Reading Time: 2 mins read

Shiba Inu (SHIB) is on the verge of making history this month, according to prominent community analyst SHIB Knight. With the $0.0001 target in sight, Shiba Inu bulls are gearing up for a potentially explosive rally that could propel the asset to new all-time highs.

Despite recent setbacks that saw SHIB’s price momentum stall after reclaiming a two-month high five days ago, the cryptocurrency has shown signs of recovery.

SHIB Knight’s Bold Prediction: $0.0001 in June

Amid this notable comeback, SHIB Knight has issued a bold prediction for Shiba Inu, asserting that the asset is on track to claim the $0.0001 mark this June. The community analyst views $0.0001 as the next threshold for Shiba Inu. This is if the asset ultimately breaks out of the two-month downtrend.

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SHIB Knight’s confidence in this target stems from the accuracy of some of his past projections for SHIB that have materialized. For instance, on Feb. 22, while Shiba Inu was trading at $0.0000097, the analyst predicted that the asset would reach a 12-month high of $0.000014 with a 52% rally. In a subsequent update, he outlined $0.000022 as an even more promising target, which came true within a few days.

If Shiba Inu manages to reach the $0.0001 target, it would set a new record for the meme coin. The meme coin would then surpass its current all-time high (ATH) of $0.00008845.

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As SHIB aims for the $0.0001 target, the cryptocurrency will need to push through a range of challenges and opportunities. The overall market sentiment, regulatory developments, and the adoption of SHIB as a means of payment will all play crucial roles in determining the asset’s trajectory.

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