Cryptocurrency analyst Javon Marks has provided a timeline for when the Shiba Inu price will reach its all-time high (ATH) of $0.00008. This comes after the analyst predicted a price surge of over 350% for the meme coin.
Analyst Reveals When Shiba Inu Price Will Reach ATH
In a post on X, Marks revealed that the price of Shiba Inu could reach an all-time high by November. The analyst stated that Shiba Inu is still maintaining its explosiveness, and with more bullish patterns emerging, the next part of a “massive surge” could be on the way. He added that larger explosions still point to $0.000081 as a target, and a price surge of over 351% could occur, sending the leading meme coin to this price level, and it could happen “very quickly.” The attached chart showed that this massive surge could happen in November. It would certainly be interesting to see the price of SHIB surge by over 350% in November, especially considering that the month has not been a good one historically for the second-largest meme coin by market cap. Cryptorank data shows that SHIB recorded monthly losses of 29.6% and 24.8% in November 2021 and 2022, respectively. Meanwhile, it recorded a small price increase of 6% in November 2023.
Accordingly, such a price surge to an all-time high in November would be a challenge to history. It is worth noting that expert Oscar Ramos is also confident in Shiba Inu’s potential. The expert said that a 100% price explosion is imminent, which could pave the way for the meme coin to retest its all-time high.
Why November Looks Good for Meme Coins Next month promises to be a bullish month for the cryptocurrency market, which could also be positive for Shiba Inu prices. The presidential election is set to take place on November 5, which has positive implications for cryptocurrencies as it will bring certainty to the market. Moreover, pro-crypto candidate Donald Trump is leading in the polls, a development that could boost crypto prices if he ultimately wins the election.
The Shiba Inu outlook is also positive thanks to the team’s efforts, which could help boost SHIB adoption. The team recently announced a “strategic upgrade” to the Shibushi NFT collection on the Shibarum network. This move could help increase daily transactions on the Shibarum network, which will ultimately positively impact the Shiba Inu price. The increase in daily transactions on Shibarum will lead to more SHIB burns, making the meme coin more valuable in the long run.
At the time of writing, Shiba Inu is trading at around $0.00001719, up over the past 24 hours. Trading volume is up over 77%, with $269 million traded during this period.
