Popular influencer Oscar Ramos believes the recent Shiba Inu rally has bolstered the probability of the asset’s price pushing toward $0.0001.
The price of Shiba Inu has surged to $0.000027 in the past 24 hours, reaching prices last seen in early 2022. However, popular crypto community influencer Oscar Ramos is backing Shiba Inu to break its previous all-time high and even go as high as $0.0001 in the current market cycle.
The influencer bases his predictions on his experience of having witnessed Shiba Inu’s performance en route its high in October 2021. He also shared a recent article by The Crypto Basic suggesting that such price action (800% in a week) is within the realm of possibility.
He told his audience, “It is 100% accurate, and it’s just going to happen [SHIB hitting $0.0001].” He then added, “I typically keep my expectations realistic on every single token. But I have witnessed what happened in October 2021. I know how much the right FOMO, hype, and retail money can do to the price of Shiba Inu.”
Influencer Outlines Reasons Behind Possible Shiba Inu Surge to $0.0001
In addition to his previous experience witnessing Shiba Inu’s bullish performance, the influencer outlined several reasons why Shiba Inu can realistically break through the $0.0001 price. He reminded viewers that a $0.0001 price target is more realistic than speculating on whether Shiba Inu will go to a penny or a dollar.
An Important Message to All $SHIB Investors.
I believe $0.0001 #SHIB is 100% Happening for @Shibtoken❤️&🔁 so the unaware join the #SHIBARMY pic.twitter.com/81Sc1jQA82
— Oscar Ramos (@realOscarRamos1) March 3, 2024
He compared the token to other assets, including Ethereum and XRP. He noted that if Shiba Inu can reach a higher fraction of these assets, then a $0.0001 price will certainly be on the cards.
Oscar Ramos further shared other articles indicating that Shiba Inu has garnered a lot of interest. Among them, one acknowledges that Shiba Inu is the fourth most-traded cryptocurrency and is being held by a large number of Ethereum whales.
Speaking on Ethereum whales, he noted that the price of Ethereum is yet to rise significantly compared to the broader crypto market. He then adds that once Ethereum surges, it typically drags other Ethereum-based tokens along with it, of which Shiba Inu will be a beneficiary.
Going further, the influencer sought to remind listeners that the crypto bull market is in its early stages. Notably, the Bitcoin halving has yet to take place (on track for April 2024), and the best returns usually come in a post-halving period.
Historically, the crypto market also usually records an “altcoin season,” during which most coins outperform Bitcoin. Such a period in the market is yet to come and could propel Shiba Inu to the predicted price levels. Market analysts argue that the altcoin season typically comes up following a BTC ATH.
Meanwhile, the influencer also warned investors when it would be a good time to exit their Shiba Inu position. He concluded, “When you start seeing the delusional prices that I wasn’t even thinking about, let’s say we go to $0.0002; that is an unbelievable amount of money that is put into a project. It’s absolutely a clear sign of a bubble. Abandon the SHIB and run.”
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
