Despite the bearish trend, a prominent crypto analyst has argued Shiba Inu remains on the path to a price beyond its all-time high, explicitly targeting an explosive rocket launch of 433% to $0.0001553.
In recent weeks, Shiba Inu has given up to bearish forces, tanking by over 30% to a low of $0.00002786. While the price collapse is due to the Bitcoin price correction, Shiba Inu has yet to recover significantly. Its price retains a 4% decline in the last 24 hours, with a prevailing market value of $0.0000291.
Meanwhile, prominent market observers like Javon Marks believe Shiba Inu’s bullish phase is still in action and that market participants can expect a rocket launch soon, as it happened earlier this month.
Shiba Inu Rocket Launch Soon
In a recent update on X, Marks reiterated his longstanding target of $0.000081 for Shiba Inu. The analyst noted that since he first issued the target around September 2023, SHIB has witnessed an outstanding 531% gain.
However, he emphasized that the gain stays low as his breakout target for Shiba Inu remains at $0.000081.
Since the attached and more original analysis, prices of $SHIB has shown MASSIVE STRENGTH, climbing approximately +531%, but these prices can be set for even more growth!
With the breakout target still at $0.000081, prices of Shiba Inu could have another +147% move coming.
A… https://t.co/ZjA5onlnBO pic.twitter.com/YuUllePvbl
— JAVON⚡️MARKS (@JavonTM1) March 13, 2024
Notably, SHIB surged 350% within a week to crack $0.00004534 on March 5, although the asset has corrected most of these gains amid the bearish markets. With Shiba Inu around $0.0000291, Marks argued that the asset is set for another 147% gains in the coming days.
The projected percentage growth implies Shiba Inu could soon reclaim the $0.000071 threshold. At the same time, the analyst remains convinced that the $0.000081 is within range. Notably, these are price points Shiba Inu last attained during the peak of 2021’s bull season.
SHIB Path to $0.0001553
Furthermore, Javon Marks argued that SHIB’s rally to $0.000081 sets the foundation for more unprecedented price territories. In particular, the analyst argued that the $0.000081 level opens the door for SHIB to engineer further 90% gains to reach a never-seen-before price of $0.0001553.
Considering SHIB’s price at $0.0000291, attaining $0.0001553 implies a 433% return on investment for Shiba Inu investors. With SHIB’s all-time high at $0.00008845, crypto market participants eagerly await SHIB overcoming this threshold in this bull season.