Shiba Inu could sail toward the $0.0001 price territory if it trailed Bitcoin’s price movements in the event that Bitcoin hits the $350,000 price predicted by “Rich Dad Poor Dad” author, Robert Kiyosaki.
Bitcoin, currently trading at $64,106, has faced a significant market collapse. This downturn has pushed the asset below critical support levels, impacting the rest of the market. While veteran analyst Peter Brandt believes the premier crypto might not see another ATH this cycle, other analysts remain optimistic.
Kiyosaki Sees Bitcoin at $350,000
For instance, analysts at leading asset manager Bernstein expect Bitcoin to reach $200,000 in this bull run. In addition, Robert Kiyosaki, author of “Rich Dad Poor Dad,” maintains a similarly bullish outlook, predicting Bitcoin could soar to $350,000 by August this year.
This prediction comes amid widespread market turmoil that has shaken investor confidence. Despite this, Kiyosaki’s forecast suggests a potential recovery and impressive growth for Bitcoin. If this scenario plays out, it will likely have a substantial impact on the broader cryptocurrency market, including Shiba Inu (SHIB).
Shiba Inu has mirrored Bitcoin’s price movements closely. SHIB has seen its price drop below psychological support levels of $0.00002, $0.000019, and $0.000018. Currently, SHIB trades at $0.00001773. Market analysts anticipate a recovery for Shiba Inu, but the scale of this recovery remains uncertain.
Shiba Inu Price if BTC Hits $350,000
Given the speculative nature of the cryptocurrency market, SHIB’s future price trajectory could be heavily influenced by Bitcoin’s performance. The Crypto Basic disclosed earlier this month that Shiba Inu maintained a 30-day price correlation of 79% with Bitcoin. This means Shiba Inu has continued to follow Bitcoin’s path.
If this pattern persists, SHIB could surge to a new ATH if Bitcoin reaches Kiyosaki’s target. A BTC rise from the current price of $64,106 to $350,000 would represent a remarkable 445.97% rise. Applying this same growth rate to Shiba Inu, which currently trades at $0.00001773, results in a significant price increase.
To put this into perspective, if Shiba Inu follows Bitcoin’s predicted growth trajectory, its price would reach approximately $0.0000968, a stone throw from the much-coveted $0.0001 target. Multiple market watchers have predicted Shiba Inu to hit this price level.
TradingView analyst Sam TCR asserted that SHIB could soar to $0.0001 upon the imminent recovery push. Another analyst Michael projected Shiba Inu to hit $0.0001011 once it breaks out of its multi-month symmetrical triangle. Community figure SHIB Knight also believes the $0.0001 target is imminent.
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.
