Shiba Inu (SHIB) has once again caught the attention of the crypto world, with analysts predicting a potential price explosion.
The popular meme coin is currently trading at $0.0000162, but experts suggest it could skyrocket by 858% to over 6,000% in the near future.
Could SHIB Hit $0.001?
Crypto analyst Javon Marks believes that SHIB could see a 10-fold increase, reaching $0.0001553.
Meanwhile, an internet personality known as Investment CEO has made an even bolder prediction, suggesting that SHIB could hit $0.001—a 6,072% jump from current levels.
If this happens, Shiba Inu’s market cap would surge from $9.56 billion to $590 billion, placing it among the world’s most valuable digital assets.
Market Performance and Technical Signals
SHIB recently dropped to a six-month low of $0.00001160 on February 3 but managed a brief recovery. Despite a 6% dip due to US-China trade concerns, analysts see stability as a sign of strength.
One key technical indicator is SHIB’s breakout from a two-year-old descending triangle formation. In January, the token rose 13% to close at $0.00001200, adding to bullish sentiment.
Challenges Ahead for SHIB
Despite the optimism, regulatory uncertainty and macroeconomic factors could impact SHIB’s growth. The broader crypto market remains volatile, and speculative assets like SHIB may face challenges in sustaining long-term rallies.
For now, investors are watching closely to see if SHIB can break out and deliver on these bold predictions.