Shiba Inu, the popular cryptocurrency, could potentially reach the price territory of $0.0001 if it follows the movements of Bitcoin. This correlation is based on the prediction made by Robert Kiyosaki, the renowned author of “Rich Dad Poor Dad,” who anticipates that Bitcoin could reach a price of $350,000. Currently, Bitcoin is trading at $64,106, but it has experienced a significant market collapse that has affected the entire crypto market. While some analysts, like Peter Brandt, believe that Bitcoin may not reach another all-time high this cycle, others, including Bernstein analysts, expect it to reach $200,000.
Kiyosaki’s optimistic forecast for Bitcoin comes at a time of market turmoil that has shaken investor confidence. However, his prediction suggests a potential recovery and substantial growth for Bitcoin, which could also impact other cryptocurrencies, including Shiba Inu.
Shiba Inu has closely mirrored the price movements of Bitcoin. It has experienced a drop in price, falling below important support levels such as $0.00002, $0.000019, and $0.000018. Currently, Shiba Inu trades at $0.00001773, and while market analysts anticipate a recovery, the extent of this recovery remains uncertain.
The future price trajectory of Shiba Inu is highly dependent on Bitcoin’s performance due to the speculative nature of the cryptocurrency market. A recent report revealed that Shiba Inu has maintained a 30-day price correlation of 79% with Bitcoin, indicating its tendency to follow Bitcoin’s path.
If this correlation continues, Shiba Inu could potentially reach a new all-time high if Bitcoin reaches Kiyosaki’s target of $350,000. Considering Bitcoin’s rise from its current price to $350,000, which represents a remarkable 445.97% increase, applying the same growth rate to Shiba Inu’s current price of $0.00001773 would result in a significant price surge.
To put this into perspective, if Shiba Inu follows Bitcoin’s projected growth trajectory, its price could potentially reach around $0.0000968, just shy of the highly coveted $0.0001 target. Multiple market analysts have also predicted that Shiba Inu will reach this price level. Analysts like Sam TCR from TradingView and Michael have projected prices of $0.0001 and $0.0001011, respectively, once Shiba Inu experiences a recovery or breaks out of its multi-month symmetrical triangle. Community figure SHIB Knight also believes that the $0.0001 target is imminent.
It is important to note that this article is for informational purposes only and should not be considered financial advice. The opinions expressed in this article are those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions, and The Crypto Basic is not responsible for any financial losses that may occur.