Despite the bearish trend, a prominent crypto analyst has argued Shiba Inu remains on the path to a price beyond its all-time high, explicitly targeting an explosive rocket launch of 433% to $0.0001553.
In recent weeks, Shiba Inu has given up to bearish forces, tanking by over 30% to a low of $0.00002786. While the price collapse is due to the Bitcoin price correction, Shiba Inu has yet to recover significantly. Its price retains a 4% decline in the last 24 hours, with a prevailing market value of $0.0000291.
Meanwhile, prominent market observers like Javon Marks believe Shiba Inu’s bullish phase is still in action and that market participants can expect a rocket launch soon, as it happened earlier this month.
Shiba Inu Rocket Launch Soon
In a recent update on X, Marks reiterated his longstanding target of $0.000081 for Shiba Inu. The analyst noted that since he first issued the target around September 2023, SHIB has witnessed an outstanding 531% gain.
However, he emphasized that the gain stays low as his breakout target for Shiba Inu remains at $0.000081.
Since the attached and more original analysis, prices of $SHIB has shown MASSIVE STRENGTH, climbing approximately +531%, but these prices can be set for even more growth!
With the breakout target still at $0.000081, prices of Shiba Inu could have another +147% move coming.
A… https://t.co/ZjA5onlnBO pic.twitter.com/YuUllePvbl
— JAVON⚡️MARKS (@JavonTM1) March 13, 2024
Notably, SHIB surged 350% within a week to crack $0.00004534 on March 5, although the asset has corrected most of these gains amid the bearish markets. With Shiba Inu around $0.0000291, Marks argued that the asset is set for another 147% gains in the coming days.
The projected percentage growth implies Shiba Inu could soon reclaim the $0.000071 threshold. At the same time, the analyst remains convinced that the $0.000081 is within range. Notably, these are price points Shiba Inu last attained during the peak of 2021’s bull season.
SHIB Path to $0.0001553
Furthermore, Javon Marks argued that SHIB’s rally to $0.000081 sets the foundation for more unprecedented price territories. In particular, the analyst argued that the $0.000081 level opens the door for SHIB to engineer further 90% gains to reach a never-seen-before price of $0.0001553.
Considering SHIB’s price at $0.0000291, attaining $0.0001553 implies a 433% return on investment for Shiba Inu investors. With SHIB’s all-time high at $0.00008845, crypto market participants eagerly await SHIB overcoming this threshold in this bull season.
Disclaimer: 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’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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