Analyst SHIB Knight predicts Shiba Inu could hit $0.0001 this month. After losing momentum from a two-month high, the cryptocurrency has recently shown signs of recovery, erasing losses from the past day.
Specifically, Shiba Inu hit a new daily high of $0.00002519, marking a 4.57% increase from its drop to $0.00002409, the lowest point since last week’s brief rally to approximately $0.00003. Amid this notable comeback, analysts like SHIB Knight have set their targets for Shiba Inu, anticipating a full-blown frenzy similar to what was witnessed in March.
SHIB Knight Predicts Shiba Inu to Hit $0.0001 This Month
In a recent update on X, SHIB Knight boldly asserted that Shiba Inu is on track to claim $0.0001 this month. The community analyst sees $0.0001 as the next threshold for Shiba Inu if the asset breaks out from the two-month downtrend.
$SHIB to 0.0001 this June!
Why not? 👀🚀 pic.twitter.com/sLh2TXIVzU
— $SHIB KNIGHT (@army_shiba) June 3, 2024
For instance, on February 22, while Shiba Inu was trading at $0.0000097, SHIB Knight predicted that the asset would reach a 12-month high of $0.000014 with a 52% rally, based on the formation of symmetrical triangles on the Shiba Inu chart.
In a subsequent update, the analyst outlined $0.000022 as an even more promising target. Remarkably, this projection came true within a few days. Since Shiba Inu reached $0.000014 in late February, it has not returned to that level, even after severe price corrections.
Now, SHIB Knight believes that $0.0001 is possible for SHIB this June. Notably, reaching $0.0001 would set a new record for the meme coin, as SHIB’s all-time high (ATH) is $0.00008845.
To achieve $0.0001, Shiba Inu needs to rally by 300%. This percentage growth is not too formidable for SHIB, considering it soared by 373% in less than ten days between late February and early March.
Analysts Predict Bullish Future for Shiba Inu
The $0.0001 target is not an isolated outlook. Other analysts have also predicted a similarly bullish future for Shiba Inu. Eunice Wong recently suggested a potential “second leg” rally that could see SHIB reach $0.000125.
Similarly, analyst Javin Marks proposed that a rebound to $0.000081 could pave the way for an increase to $0.0001553.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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