Analyst Raises Target for Shiba Inu, Increases Expectation by 750%!
Shiba Inu had a strong breakout in September.
Analyst Ramos predicts that the SHIB rally will continue.
He expects SHIB to reach a target of $0.00017 by 2025.
Despite investor concerns in September, Shiba Inu reached a three-month high, showing positive performance in the cryptocurrency market. Following the Federal Reserve’s interest rate cut, the market experienced an upward trend, and SHIB’s price followed suit, rising by 51% over the week to new highs. However, today’s decline has caused concern among many investors. Nevertheless, analyst Oscar Ramos has offered an analysis that is changing these concerns.
- Expert Opinion on Shiba Inu
- Price Predictions
Expert Opinion on Shiba Inu
SHIB is the second most popular memecoin, with investors seeing significant gains. Over the past few days, SHIB’s price reached a three-month high of $0.00002148. However, as of today, the price has dropped to $0.00001964, with a market cap of $11.57 billion and a trading volume of $1.41 billion.
Price Predictions
The dog-themed memecoin SHIB remains in a strong buy zone. The RSI indicator suggests the token is in an overbought position and has entered price consolidation today. Once this sentiment subsides, especially if the token surpasses its third resistance level of $0.00002172, an upward trend could begin. Ramos commented on SHIB, saying, “I have news for SHIB. A 750% increase is realistic, with a target of $0.00017.”
Ramos further predicted that SHIB’s price would reach $0.000045 by the end of 2024 and could climb to the $0.00017 target by 2025. The analyst highlighted that SHIB’s price surged by 400% in just ten days this past February.
Compared to major cryptocurrencies like BTC and ETH, memecoins tend to be more volatile. SHIB’s strong technical indicators and high demand are considered promising signs for a future price increase. Ramos’ analysis underscores that investors should closely monitor SHIB.
Shiba Inu is currently in a consolidation phase, with Dogecoin’s rise to $0.117574 adding competition to SHIB. Nevertheless, given the current market conditions and technical factors, SHIB is expected to rise again. Experts like Ramos believe SHIB has the potential to climb even higher in the future.
Considering the overall trends in the cryptocurrency market and expert opinions, SHIB presents potential opportunities for investors. However, due to the high volatility of the market, caution is advised.
Disclaimer: The information provided in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks. It is important to conduct their own research before making any investment decisions.
