Renowned crypto analyst SHIB Knight has made a bold prediction that Shiba Inu could potentially hit $0.0001 in the month of June. Recent market activity for Shiba Inu indicates a strong and resilient sentiment among traders.
After 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. With a recent daily high of $0.00002519, representing a 4.57% increase from its low of $0.00002409, there is renewed speculation about SHIB’s potential to reach new heights.
SHIB Knight, known for his accurate predictions, believes that Shiba Inu could reach $0.0001 this June, marking a 300% rally from current levels and setting a new all-time high for the token, surpassing its previous peak of $0.00008845.
The analyst’s track record includes correctly forecasting SHIB’s rise from $0.0000097 to $0.000014 on February 22, followed by a target of $0.000022, which SHIB achieved in just a few days. SHIB Knight is confident that the meme coin is on track to break out of its downtrend and hit the $0.0001 milestone.
While a 300% rally may seem ambitious, Shiba Inu has previously demonstrated rapid growth, with a 373% surge in less than ten days between late February and early March. Other market watchers like Eunice Wong and Javin Marks also anticipate significant price movements for SHIB in the near future.
Technical analysis, including the formation of symmetrical triangles on SHIB’s chart, plays a crucial role in these predictions. Despite a recent pullback, Shiba Inu has quickly recovered, indicating strong buying interest and support at lower levels.
Although SHIB has experienced a 5.03% drop in its trading price over the past 24 hours, the token’s trading volume has surged by 33% to $639.8 million. While SHIB has seen declines in the past week and month, there is growing consensus among analysts that the meme cryptocurrency is poised for a substantial upward movement, potentially reaching the $0.0001 mark in the coming weeks.