Shiba Inu on Its Way to $0.0001 as SHIB Rises to $0.00004

Shiba Inu (SHIB) has resumed its bullish momentum, recently soaring 76% in a mere 24 hours to reclaim a two-year high above $0.00004, with just a 148% increase now required to hit $0.0001.

The crypto market bull run is already taking form, as Bitcoin (BTC) breaks $68,000 with a push toward its ATH of $68,789. Meanwhile, assets such as Shiba Inu have outperformed BTC and the rest of the crypto market.

SHIB has restarted the uptrend it initiated last week, and it is now 327% up from its price last Monday, making it one of the best performers in the market within this timeframe. The crypto asset’s latest resurgence has seen it spike 76% within 24 hours to reclaim the $0.00004 price territory.

Amid this impressive performance, Shiba Inu has now sealed its spot as the top gainer among the 100 largest crypto assets in the market. The token now battles to retain the $0.00004 threshold, looking to leverage it as the foundation for the next push toward $0.00005.

Shiba Inu Now Needs a 148% Rise to Hit $0.0001

Currently trading for $0.00004022, the latest price uptick now puts Shiba Inu on track to hit price territories previously regarded as merely ambitious. The asset is now only 148.6% away from clinching the $0.0001 price territory, essentially erasing one more zero from its value.

In addition, Shiba Inu now requires an additional 119% increase to reclaim its previous all-time high of $0.00008845. Given its impressive 327% surge in less than nine days and the 76% spike in 24 hours, a 119% or 148.6% rise is within the realms of feasible.

Recall that Lucie, the Shiba Inu ecosystem marketing specialist, revealed last week that part of Shiba Inu’s meteoric surge in the previous bull run materialized even before Vitalik Buterin’s historic burn. She anticipated a similar performance now that the asset records periodic burns.

Notably, The Crypto Basic called attention to this statement, suggesting that SHIB could indeed rise to $0.0001206, marking an 800% surge from its price at the time. However, Shiba Inu’s lead developer, Shytoshi Kusama, argued that this target was an “underestimate” of SHIB’s potential.

In a subsequent remark, Oscar Ramos, a seasoned crypto YouTuber and community figure, asserted that Shiba Inu hitting $0.0001 is 100% possible. SHIB traded at $0.000027 at the time. The asset has been up 49% since then, with a mild push-up required to reach the $0.0001 target.

SHIB Clinches 2-Year High

SHIB first engineered its meteoric run last weekend after registering gradual but steady price upticks over the course of the previous week. The token first surged 143% from $0.00000967 on Feb. 26 to $0.00002350 before facing a roadblock.

Following a mild consolidation at the $0.00002 zone, Shiba Inu resumed its rally last night, breaching the $0.00003 and $0.00004 territories in one fell sweep to hit a high last seen in December 2021. The asset now looks to push toward the $0.00004924 level aligning with Fib. 0.618.