Renowned crypto analyst SHIB Knight has made a bold prediction, suggesting that Shiba Inu could potentially reach $0.0001 by the end of June. The recent price movements of Shiba Inu indicate a strong market sentiment, with signs of a recovery after a slight dip. This has sparked optimism among analysts, who foresee a significant price surge for the meme coin. SHIB recently saw a daily high of $0.00002519, showing a 4.57% increase from its recent low of $0.00002409. This rebound has reignited discussions about SHIB’s potential to achieve unprecedented levels.
SHIB Knight, known for his accurate predictions, believes that Shiba Inu could see a 300% rally to reach the $0.0001 milestone, surpassing its previous all-time high. This forecast is backed by SHIB Knight’s successful track record, as he accurately predicted SHIB’s rise to $0.000014 when it was trading at $0.0000097 in February. He later projected a target of $0.000022, which was achieved shortly after. Now, he anticipates that SHIB is ready to break out of its two-month downtrend and hit the $0.0001 mark.
While a 300% rally may seem ambitious, it is not unfamiliar territory for Shiba Inu. The meme coin previously experienced a 373% surge in less than ten days between late February and early March, showcasing its potential for rapid growth. Other market watchers, such as Eunice Wong and Javin Marks, also share a bullish outlook, predicting further price increases for SHIB in the near future.
The growing consensus among analysts points towards a significant upward movement for Shiba Inu. Technical analysis, including the formation of symmetrical triangles on SHIB’s chart, supports these predictions. Despite a recent pullback, SHIB has quickly recovered, indicating strong buying interest and support at lower levels.
In the face of recent market conditions, Shiba Inu has experienced a slight downturn, with its value dropping by 5.03% in the past 24 hours. However, the trading volume for SHIB has surged by 33% to $639.8 million during the same period, showing continued interest in the meme cryptocurrency. Even though SHIB has declined by more than 8% over the past week and 6.5% in the last month, there is still optimism surrounding its potential for growth. At present, the market capitalization of Shiba Inu stands at $14.09 billion.