Renowned community analyst SHIB Knight is confident that Shiba Inu could make history this month by reaching the target of $0.0001.
After experiencing a slight setback, Shiba Inu has shown signs of recovery in the past few hours, recovering from the losses incurred in the last 24 hours. The cryptocurrency has reached a new daily high of $0.00002519, marking a 4.57% increase from its lowest point of $0.00002409.
This impressive comeback has led analysts like SHIB Knight to make bold predictions for Shiba Inu, reminiscent of the frenzy witnessed in March. SHIB Knight believes that Shiba Inu has the potential to reach $0.0001 this month if it breaks out of the two-month downtrend.
SHIB Knight’s confidence in this target is based on the accuracy of his past projections for SHIB. For example, on February 22, when Shiba Inu was trading at $0.0000097, SHIB Knight accurately predicted that the cryptocurrency would reach a 12-month high of $0.000014 with a 52% rally. This projection was based on the formation of symmetrical triangles on the Shiba Inu chart. Subsequently, SHIB Knight identified $0.000022 as an even more promising target, which was achieved within a few days.
Based on these past successes, SHIB Knight now believes that reaching $0.0001 is possible for Shiba Inu this June. If this target is achieved, it would be a new record for the meme coin, surpassing its all-time high of $0.00008845.
To reach $0.0001, Shiba Inu would need to rally by 300%. While this may seem like a significant increase, it is not unprecedented for SHIB. In late February and early March, the cryptocurrency experienced a 373% surge in less than ten days.
Other market watchers also share a bullish outlook for Shiba Inu. Eunice Wong has suggested a potential “second leg” rally that could see SHIB reach $0.000125, while analyst Javin Marks believes that a rebound to $0.000081 could pave the way for an increase to $0.0001553.
It is important to note that this article is purely informational and should not be considered financial advice. Readers are advised to conduct their own research before making any investment decisions.
