Renowned cryptocurrency analyst SHIB Knight has made a bold claim that Shiba Inu could potentially hit $0.0001 by the end of June. The recent price movements of Shiba Inu indicate a strong and resilient market sentiment.
Following a brief dip, Shiba Inu (SHIB) has started to show signs of recovery, leading to optimism among analysts who are predicting a significant price surge for the meme coin. The coin recently reached a daily high of $0.00002519, showing a 4.57% increase from its low of $0.00002409. This recovery has sparked discussions about the possibility of SHIB reaching new all-time highs.
SHIB Knight, known for his accurate predictions, has set a target of $0.0001 for Shiba Inu by June. This target represents a massive 300% increase from its current levels and would surpass its previous peak of $0.00008845.
Despite the ambitious nature of this prediction, SHIB has previously demonstrated its ability for rapid growth. Between late February and early March, SHIB surged by an impressive 373% in less than ten days. This has led SHIB Knight and other market analysts to believe that the meme coin has the potential to break out of its downtrend and reach new milestones.
Other analysts, such as Eunice Wong and Javin Marks, also share a bullish outlook on Shiba Inu, predicting price targets of $0.000125 and $0.0001553, respectively. These forecasts, combined with technical analysis pointing towards bullish breakouts, suggest that SHIB could be on the verge of a significant upward movement in the coming weeks.
Despite a recent downturn in price, Shiba Inu has shown resilience with strong buying interest and support at lower levels. While SHIB’s value has dropped by 5.03% to $0.00002382 in the past 24 hours, its trading volume has increased by 33% to $639.8 million. This indicates a strong market interest in the meme cryptocurrency, despite fluctuations in its price.