In this analysis, we will explore the potential timeline for Shiba Inu to reach different price targets, namely $0.0001, $0.001, and $0.01, assuming it secures a 100% gain every month from its current position.
Currently, Shiba Inu is facing significant downward pressure from the bears, as it has fallen below several crucial psychological price levels above the $0.00002 mark. On April 1, SHIB lost the support zone at $0.00003 and has since been struggling to regain this price level against the bears.
The recent market-wide collapse has pushed Shiba Inu to the lower end of the $0.00002 territory, posing a threat of dropping below this level to the $0.00001 zone. As of now, Shiba Inu is trading at $0.00002032, marking an 18% decline in the past 24 hours.
Despite the market crash, investors have held onto their SHIB tokens, hoping for potential price rallies. Some projections suggest that SHIB could reach $0.0001, $0.001, and even $0.01. For example, market analyst Michael predicts that SHIB could hit $0.0001019 once it completes its 5th Elliott Wave. Similarly, market watcher Armando Pantoja anticipates a price of $0.001 for Shiba Inu after the upcoming Bitcoin halving. Lucie, a Shiba Inu ecosystem marketing specialist, believes that SHIB could eventually reach $0.01, although not immediately.
However, it is important to note that these price targets are ambitious and speculative, with no guarantees of Shiba Inu achieving them. The cryptocurrency market is known for its high volatility, which often leads to unexpected price movements.
To evaluate the timeline for Shiba Inu to reach these price targets, let’s consider its previous performance. Shiba Inu experienced a surge of 380% from $0.00000952 on February 24 to its yearly peak of $0.00004567 on March 5. While this was a significant gain, it wasn’t the largest one for SHIB. CoinGecko data shows that Shiba Inu has surged by an astonishing 37,187,293% from its all-time low price.
Now, hypothetically, if SHIB were to replicate the recent 380% gain consistently every month, it would take three months to reach $0.0001, as it needs a 392% rise to meet this target. However, reaching $0.001 would require a much larger increase of 4,821%, which means it would take over four years to reach this price if SHIB sees a 100% monthly increase.
As for the audacious $0.01 price target, Shiba Inu would need to rally by a massive 49,112% to achieve this level. While the chances of SHIB reaching this price remain very low, if it were to surge by 100% each month, it would take 41 years to hit $0.01 from its current price.
It’s important to note that this analysis is purely hypothetical and should not be considered as financial advice. The views expressed in this article are the author’s personal opinions and do not reflect the official stance of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic is not responsible for any financial losses incurred.