Experts Predict Shiba Inu’s Next Move: SHIB Price To Hit $0.00016 Soon

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As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed numerous market cycles and trends. The current bullish surge of Shiba Inu, despite the general investor fear, is a testament to the unpredictability of the crypto world.

Contrary to what investors might have anticipated, September has proven quite bullish, particularly for Shiba Inu. This digital currency reached a three-month peak recently. The surge came about following an uptick in the broader crypto market, which started climbing after the Fed implemented a 50 basis points interest rate reduction. Remarkably, the SHIB price touched new record highs due to a 51% increase over the past week. Regrettably, the price has dipped today, causing some concern. Nevertheless, one expert’s analysis has transformed those concerns into anticipation.

Crypto Experts Claims Shiba Inu To Reach $0.00016

SHIB, a meme-themed coin, is the second most widely used token in its category and has been highly profitable for its investors. This profitability can be seen in recent trades, as the Shiba Inu price reached a three-month high of $0.00002148 within the past few days. However, today, the price has dropped significantly to $0.00001964. At present, its market capitalization and trading volume stand at approximately $11,571,705,258 and $1,411,672,336 respectively.

Although it decreased, the meme coin based on dogs is currently in a robust buying area, as suggested by the RSI showing excessive purchasing of the token. This has caused the SHIB price to stabilize today. Once this excessive buying sentiment subsides, an upward trend could start if the token manages to surpass its third resistance level at $0.00002172.

Regardless, this is just a start as a crypto expert, Oscar Ramos believes this is just the start. He brought people’s attention to SHIB at the beginning of the year when SHIB’s price grew 400% within just ten days during the March rally. At that time, the SHIB price hit $0.0000356, the highest peak since its ATH of $0.00008845 set three years ago.

Exciting Updates if You Own $SHIB
— Oscar Ramos (@realOscarRamos1) September 27, 2024

Due to Ramos’s focus on this meme cryptocurrency, numerous investors have taken interest in it and are anticipating another potential surge similar to its previous rally. This optimism stems from predictions made by experts that another rally is imminent, surpassing even the March high and potentially reaching a new all-time high. According to Ramos, there’s a notable resistance level at $0.00002, which the token has already surpassed, and it is projected to reach the $0.000045 level.

He further explained that the significant event will take place by the close of 2024, with the ultimate goal being far beyond this point. Ramos is convinced that the SHIB price must hit $0.000045 before experiencing a 750% surge and reaching a new all-time high of $0.00017 or less in 2025.

Final Thoughts

In recent days, Shiba Inu’s value was lagging behind on the price charts, but it has since recovered and erased all its losses from the past three months in just a week, experiencing an approximately 51% surge. However, it is currently in a holding pattern as investors have driven it into the overbought zone. At the same time, Dogecoin‘s price increase is challenging Shiba Inu’s token value. Nevertheless, there remains optimism for further gains given the current market situation and indications of strong demand for this meme-themed cryptocurrency. Renowned crypto analyst Oscar Ramos even predicts that the SHIB price could reach a new high of $0.00016 by 2025.

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2024-09-29 02:32