A market analyst believes Shiba Inu has the potential to reach a 0.1 cent price, arguing that such a price milestone is “possible” for the meme coin.
This commentary comes as Shiba Inu battles to regain its footing amid a massive correction that has lasted for over a week. During this period, SHIB has persistently witnessed lower highs, recently giving up the pivotal support at the $0.00002 psychological level.
Despite this bearish price action, certain market analysts remain optimistic about Shiba Inu’s prospects. Shib Knight, a community figure and pundit with nearly half a million followers on X, is one such optimistic individual.
“Shiba Inu to $0.001 Possible”
In one of his latest commentaries, Shib Knight argued that a $0.001 price was possible for Shiba Inu. Interestingly, he made this daring conclusion months back when SHIB was in a much worse position than it is today.
Particularly, at the time of the disclosure last August, Shiba Inu traded at an average price of $0.00001380. Since then, SHIB has appreciated, soaring 142% to the most recent peak of $0.00003343 last December. Despite a drop from this top, Shiba Inu has still been up 34% since Shib Knight’s disclosure.
This confirms that SHIB is now in a better position to reach the $0.001 price level than last August. Notably, with its price currently trading for $0.00001849, Shiba Inu would need to surge by a whopping 5,308% to reach the $0.001 price level.
Meanwhile, Shib Knight also suggested that the lower price target of $0.0001 is not just possible but “quite realistic.” This indicates that while the market analyst believes $0.001 is attainable in the long run, he is confident that the $0.0001 price goal is more feasible for Shiba Inu.
Notably, the closest Shiba Inu has been to hitting $0.0001 was in October 2021, when it reached the all-time high of $0.00008845. At this price, SHIB only needed a further 13% upsurge to reach $0.0001. With most analysts agreeing that Shiba Inu could reclaim the ATH in the current cycle, a 13% extra rally to $0.0001 becomes rather plausible.
Timelines for SHIB to Hit $0.0001 to $0.001
Interestingly, Mama Whale, a community pundit, predicted timelines for Shiba Inu to reach these levels in a post on X last December. The proponent shared a chart revealing Shiba Inu’s remarkable journey from a $0.000000000510 price in August 2020 to $0.0000073 in September 2023.
They suggested that SHIB was on track to repeat this run, predicting the meme coin to reclaim its ATH of $0.00008845 in January 2025. At Shiba Inu’s current price, the altcoin would need to increase 378% to reach the all-time peak. However, with two days left in January, this is unlikely to materialize.
🚨 THE LEGEND OF $SHIB: HISTORY WILL REPEAT ITSELF
~~~~~~~~~~~~~~~~~~~~$SHIB BLUEPRINT 2025🦊
~~~~~~~~~~~~~~~~~~~~
> 2025 January all time high
> 2025 February $0.0001+
> 2025 March $0.0005+
> 2025 april $0.001+✨️ $SHIB $0.01 ✨️Q1 2025$shib #1centdream #soon pic.twitter.com/Gj4hcUlG4v
— Meme whale# (@Salah3436797099) December 24, 2024
Meanwhile, Mama Whale predicts that by next month, Shiba Inu could hit the $0.0001 goal previously set by Shib Knight. Further projections set a target of $0.0005 by March 2025 and then $0.001 in April 2025. However, these predictions appear rather unfeasible, given the current market condition.
