Shiba Inu Set to Skyrocket: Meme Coin Anticipated to Experience 52% Increase, Reaching $0.00001492, According to Crypto Expert
Shiba Inu (SHIB), the cryptocurrency inspired by canines, is attracting attention as crypto enthusiasts closely monitor its recent performance and the potential for a significant surge. Although it has lagged behind some of its counterparts in the current market upswing, an expert predicts that Shiba Inu could experience a 52% increase, reaching $0.00001492.
Shiba Inu has experienced a notable increase in prices, although it has not fully participated in the ongoing relief rally. Earlier this week, Shiba Inu made headlines by successfully surpassing the $0.00001 mark. This milestone followed a 4% rally on February 15, pushing the token above this barrier. However, the excitement was short-lived as SHIB dropped back below $0.00001. Currently, it is hovering around $0.00000973.
In a recent tweet, a renowned crypto expert and Shiba Inu enthusiast, known as ‘$SHIB KNIGHT,’ shares an optimistic outlook for SHIB’s future. According to the expert’s predictions, Shiba Inu is poised to break the $0.00001 barrier again and may even reach $0.00001011, $0.00001193, and $0.00001309. Significantly, the analyst expects SHIB to ultimately reach $0.00001492, which would require a substantial 52.7% rally from its current price of $0.00000977.
The expert backs these predictions by pointing to the ongoing positive sentiment in the market and Shiba Inu’s recent breakout in the weekly charts. It is worth noting that SHIB recently surpassed the 50-day exponential moving average (EMA) at around $0.00000940, a move that historically resulted in an 80% price increase in October 2023. Additionally, the expert highlights crucial support levels for Shiba Inu at $0.00000953, $0.00000896, and $0.00000880, which may play a significant role in supporting SHIB’s price in case of any market fluctuations.
Currently, SHIB is actively trading at $0.00000973, indicating a 1.83% decrease in the last 24 hours and bringing its market capitalization to around US$5.84 billion. Despite being down 88.7% from its all-time high of $0.00008616 in October 2021, Shiba Inu maintains support above the EMA20 trend line. With the relative strength index (RSI) hovering around 65 and the 20-day EMA on the rise, sellers currently lack a clear advantage in the market.