A cryptocurrency analyst raised the possibility Shiba Inu (SHIB) It rises to $0.0001. As part of his analysis, he highlighted: Certain factors This could contribute to the memecoin seeing this parabolic rise in prices.
The Shiba Inu will rise to $0.0001 if history repeats itself
Cryptocurrency analyst Bunchhieng suggested in his book analysis SHIB could reach this price level if history repeats itself, and SHIB reverses its bullish pattern from… Bull Racing 2021. He emphasized that based on the patterns he observed from the previous bull market, it was “quite possible” for SHIB to reach $0.0001.
Source: Tradingview.com
The analyst also tried to remove the doubts of those who believe that such a price rise is unlikely to be taken into account SHIB's market capitalizationPointing out that anything is possible in the world of cryptocurrencies. Meanwhile, he added SHIB burn ratewhich has continued to increase significantly, as another factor that could have a “positive impact” on the value of the meme coin.
The Bunchhieng price prediction also seems possible when one takes into account the recent analysis of cryptocurrency analyst Rekt Capital, which he suggested That SHIB was already reflecting price action from 2021. At the time, he revealed that SHIB, similar to 2021, had The test was repeated successfully $0.000026041 price as a new support level.
at recent days to updateRekt Capital also suggested that SHIB was showing enough strength to pull off a run similar to the one in 2021, noting that SHIB's current support level served as resistance for the meme coin in early 2022.
SHIB can actually reach $0.0001
Bunchhieng is not the only cryptocurrency analyst who believes SHIB could reach $0.0001. Cryptocurrency analyst Javon Marks, too And he expected The meme coin could rise to $0.0001553 once it reaches the $0.000081 price range. Interestingly, this is not even the most optimistic forecast for the Shiba Inu.
Cryptocurrency analyst Armando Pantoja, who recently set his price targets for various cryptocurrency tokens, And he expected The meme coin could rise to $0.001 yet Bitcoin halving. Meanwhile, cryptocurrency analyst Ali Martinez And he expected That SHIB could rise to $0.011, although he did not provide a specific timeline for when this unprecedented price rise would occur.
Although price forecasts are mixed, it is clear that SHIB is likely to reach a new all-time high (ATH) in this uptrend. Crypto analyst and trader under the pseudonym Xanrox He believes this could happen as soon as July, and he expects the cryptocurrency token to rise to $0.00008854 by then.
SHIB price starts recovery trend | Source: SHIBUSDT on Tradingview.com
Featured image from CoinGape, chart from Tradingview.com
