TradingView analyst Abmoon reaffirms his confidence in his previously set series of six Shiba Inu price targets, maintaining an ultimate aim of $0.000165. His latest update underscores a bullish report on Shiba Inu, notably highlighted by The Crypto Basic on July 1. This report revealed Kronos, a prominent air purifying company, as the first U.S. public firm to endorse Shiba Inu payments.
Abmoon integrated this development into his analysis, aiming to bolster positive sentiment amidst ongoing market fluctuations. He emphasized the active status of his Shiba Inu trade, expressing steadfast belief in the achievable nature of his targets.
The journey began in November 2023, when Shiba Inu was grappling to surpass $0.00001. Despite this challenge, Abmoon boldly set forth six ambitious targets. His trade plan, initiated with an entry zone spanning $0.00000755 to $0.00001018, aimed for significant growth.
The first target projected a substantial 163% increase to a range of $0.00002629 to $0.00002825. Subsequent targets escalated, with the second aiming between $0.00003778 and $0.0000399, promising a 272% return. The third target anticipated a surge to $0.000065 to $0.00006773, marking a 545% rise. The fourth set sights on $0.0000869 to $0.0000924, forecasting a 757% leap. The fifth and sixth targets aimed for $0.000124 to $0.00013 and a minimum of $0.0001606 respectively, culminating in the ultimate goal of $0.000165.
Shiba Inu initially reached the first and second targets with a peak at $0.000045 in early March, validated by Abmoon on March 11. Despite subsequent setbacks amidst a broader crypto downtrend, Abmoon maintains optimism for a recovery. Analysts, including Crypto Sheriff, foresee potential returns to $0.00003, while The Crypto Basic outlines various resistance levels hindering Shiba Inu’s resurgence.
Presently trading at $0.00001508, Shiba Inu eyes the 20-day SMA at $0.00001715, necessitating a modest 13% uptick for breakthrough. Further milestones include reclaiming $0.00002 by breaching the upper Bollinger Band at $0.00001939.
Disclaimer: This article serves informational purposes only and should not be construed as financial advice. The opinions expressed herein reflect the author’s perspective and not necessarily that of The Crypto Basic. Readers are advised to conduct independent research before making investment decisions, with The Crypto Basic absolved of any resultant financial outcomes.