Analyst Says Shiba Inu Could go 3200% from Current Price.
A Dogecoin bull, David Gokhshtein says Shabi Inu can potentially hit $0.001 from its current price. This will imply a 3200% pump from SHIB’s current value, a feat Gokshtein believes is possible.
The analyst wrote in a tweet, Wednesday that he doubts if SHIB will hit $1, but that he is confident it will reach $0.001.
“I don’t believe $SHIB will hit $1, but I can see it touching $0.001. My personal opinion. I’ll take it,” he wrote.
Why he is so confident
You may be wondering why this meme coin supporter is so positive that SHIB will reach $0.001. Well, it is because he also believes that meme coins are the “gateway” to crypto for new investors. This is because meme coins generally experience rapid upward price movements in their initial years, which proves to be profitable for new investors who don’t have much to spare.
Shiba Inu, which is in question, added 100 million percent to its value in 2021 alone. Several millionaires were made as a result, who invested negligible amounts of money.
Dogecoin has also experienced phenomenal price explosions that empowered many new investors who are likely to keep buying the crypto in this class. Gokshtein is Confident that Shiba Inu is on its way higher.
In another tweet earlier today, he wrote:
“I’m super bullish on Bitcoin – but I’m open-minded to everything. Projects like SHIB will introduce people who don’t know that they could buy a fraction of a Bitcoin to our space. That’s a good thing. Not bad. Good. Bye.”
How SHIB is doing
Shiba Inu has recently been down alongside other top cryptocurrencies as the April correction lingered. As the market is showing signs of recovery, it has also turned green. Prior to the recovery, the price had shot up to $0.00002977 on 12 April following its listing on Robinhood. The price has dropped to $0.00002688 at the time of writing this report but if Gokshtein’s prediction plays out, it may be on another run-up soon.