Armando Pantoja, a member of Benzinga’s crypto advisory board, argues that FOMO is about to “hit hard” on Shiba Inu, projecting a 72X surge to $0.001.
Shiba Inu continues to linger at lower values than it traded a week ago, as it has yet to recover from the Monday market downturn fully. Currently, SHIB is hovering around $0.00001371, reflecting a 2% decline in its 24-hour performance after briefly reaching $0.000014 yesterday.
At its current value, Shiba Inu is down over 17% from the weekly high of $0.00001667. Looking at its performance over the past 60 and 90 days, SHIB has experienced a significant 45% decline.
However, market watchers are optimistic that Shiba Inu’s bearish trend is coming to an end, and the asset is poised for a significant upswing.
Shiba Inu Set to Explode, Enters Prime Buying Range
In a recent post on X, analyst Armando Pantoja made a compelling case for an imminent surge in SHIB’s value. He pointed to a bullish RSI divergence, indicating that the correction phase is now behind us.
Accordingly, Pantoja argues that SHIB has entered a prime buying range, suggesting that investors may want to take advantage of the current low prices before the anticipated violent surge past macro resistance.
The optimism surrounding Shiba Inu’s potential surge is rooted in the fact that the cryptocurrency has largely erased its gains from March, with the bearish momentum of this month nearly wiping out its progress.
In March, SHIB reached a high point of $0.000045, a level it had previously reached in 2021. However, by August, the cryptocurrency had plummeted to $0.00001087. It narrowly avoided a decline to five zeros, a level last seen in late February. This dramatic fall represents a staggering 75% collapse from its March high to its August low.
FOMO to Drive SHIB to $0.001
According to Pantoja, the market now views the current low threshold as an attractive accumulation zone. As a result, Pantoja is predicting a massive FOMO frenzy that will propel Shiba Inu to unprecedented heights at $0.001.
This would represent a monumental gain for investors who buy in today. Specifically, their portfolios will potentially expand by 7,193% if Pantoja’s prediction comes to pass.
While other analysts also foresee a significant surge in Shiba Inu’s value in the coming day, their projections are generally more conservative. They expect SHIB to eliminate only one zero rather than the two zeros envisioned by Pantoja.
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