Top crypto experts project that Shiba Inu could be on the brink of embarking on a major rally that could take its price to $0.0002 and beyond.
Despite Shiba Inu’s recent price plunge, these crypto experts have remained confident in their predictions.
Experts Confident in Shiba Inu Resurgence
Notably, Shiba Inu has plunged heavily, alongside other major crypto assets, since the recently concluded Bitcoin halving. Shiba Inu soared to around $0.00002800 shortly after the Bitcoin halving and has plunged 19.39% to $0.00002257 ever since.
As a result, many Shiba Inu investors are currently underwater. Data from IntoTheBlock shows that 39% of all SHIB holders are at a loss, while 57% and 4% are in profit and breakeven, respectively.
Nonetheless, top crypto experts believe that Shiba Inu will soon move past its bearish days and embark on a major recovery that could take its price to $0.0002.
Top $0.0002 Price Prediction
That said, we’ve outlined several market watchers who believe Shiba Inu could hit the $0.0002 target soon. In a recent assessment, The Crypto Basic, citing a tweet from Shiba Inu’s marketing lead Lucie, stated that in a bull market, Shiba Inu could soar 1,126% to a staggering $0.0002858.Â
The Crypto Basic issued the prediction in reaction to an analysis from Lucie, suggesting how SHIB rallied from $0.000007 to $0.000088 in October 2021 without burns and few adoptions.
Shiba Inu’s price surge in October 2021 marked a significant growth of 1,126%. Notably, The Crypto Basic projected that SHIB could reach $0.0002858 by replicating its performance in October 2021.
In December, analysts at crypto trading firm Changelly forecasted that Shiba Inu could hit a target of $0.00024 by 2031. However, the experts modified the timeline for Shiba Inu’s potential rally to $0.0002, stating that the SHIB would hit the target by October 2028, four years from now.
Can Shiba Inu Reach $0.0002
Many might consider the $0.0002 target to be unrealistic given Shiba Inu’s current price and circulating supply. For context, Shiba Inu must surge by 786% to reach the $0.0002 target.
Notably, Shiba Inu is no stranger to huge price spikes. As Lucie pointed out, Shiba Inu witnessed a hefty surge of 1,126% in one month to record its previous all-time high of $0.00008845.
Shiba Inu achieved the feat despite having low adoption and burns. At the moment, Shiba Inu has an ongoing burn campaign that has seen huge amounts of SHIB incinerated at intervals. Over the past 24 hours, the community has incinerated 41.27 million SHIB tokens, bringing the total burns to 410.72 trillion.
Additionally, crypto whales have been showing significant interest in SHIB. This is reflected in the 705,917,885,653 (705.91 billion) SHIB whales withdrew from crypto exchanges in one day.
Moreover, Shiba Inu is gradually transitioning into a utility project, thanks to projects like its Layer-2 blockchain Shibarium and upcoming play-to-earn game Shiba Eternity. These developments could contribute immensely to paving the way for Shiba Inu’s potential rally to $0.0002.
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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