Popular Bitcoin investor CryptoELITES projects a massive upside for Shiba Inu, forecasting that its price will skyrocket 17x from its current level.
According to the chart shared by CryptoELITES, Shiba Inu is poised to break out of a symmetrical triangle. This pattern typically appears on an asset’s chart when its price compresses between higher lows and lower highs. At the moment, SHIB is approaching the end point of this pattern, with the potential for an upward breakout.
Shiba Inu Potential Surge to $0.00023
At the time of his analysis, Shiba Inu was trading at around $0.00001243, with its movement consolidating near the lower end of the triangle. He suggested that Shiba Inu could embark on a significant rally once it breaks out of this consolidation.
If this happens, the analyst notes that Shiba Inu could climb to the $0.00023 level, representing a potential upsurge of 17x from the token’s price at the time of the analysis. However, moving from $0.000012435 to the $0.00023 target would actually represent a 1,749% increase, or an 18.5x gain.
Achieving the prediction would mark a new all-time high for Shiba Inu. For context, the $0.00023 target is 160% higher than the previous all-time high of $0.00008845.
-
Shiba Inu chart by CryptoElites
Notably, CryptoELITEs has predicted Shiba Inu’s upsurge to the $0.00023 target more than once, highlighting his conviction. He shared a similar prediction in April, when SHIB was trading at around $0.000013. In both analyses, he did not specify a timeline for when the prediction would be realized.
Meanwhile, Shiba Inu community members have expressed mixed reactions regarding whether SHIB can ever reach such ambitious targets. While some users do not expect SHIB to achieve the price milestone, others believe the prediction is too conservative.
Popular SHIB to $0.00023 Predictions
Besides CryptoELITEs, other market commentators have featured the $0.00023 target in their predictions.
Last year, popular analyst Alan Santana predicted that SHIB’s price could reach $0.00023 by the end of 2025. However, he emphasized that SHIB will only attain this milestone under favorable market conditions.
Similarly, prominent crypto figure Himanshu Maradiya expressed a similar outlook, forecasting that SHIB will not only reach $0.00023 this year but could also surpass it, potentially reaching as high as $0.0003.
Meanwhile, Shiba Inu has remained stable around the $0.000012 price region over the past few weeks amid increased volatility across the crypto market. It has lost 1% of its value in the past day and has also experienced a decline of 2.38% in the past week.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
