The Shiba Inu has netted more than 51% in the past few days, with one prominent analyst predicting a massive 7x increase in price to $0.00017.
The Shiba Inu has been one of the best performing crypto assets in the ongoing bull run, having breached a three-month high in the past 24 hours. At press time, it is trading above $0.00002, a level not seen since mid-July.
Over the past day, Shiba Inu’s bull run has pushed it as high as $0.00002156, erasing all losses from the past three months. Considering that SHIB was valued at $0.0000143 four days ago, the meme token has achieved a massive 51% gain in less than a week.
However, since reaching a three-month high last Friday, Shiba Inu has seen a brief correction. Its floor price is hovering just above $0.00002, with the potential to fall below that level. This is because some holders believe that the bull run for Shiba Inu has become overheated, so they are starting to take profits on the recent gains.
Meanwhile, prominent market observers such as Oscar Ramos from the Shiba Inu community believe the party is just beginning, and he boldly claims to know where SHIB is headed. He expressed this view in a recent analysis shared on X.
Shiba Inu is just getting started
Ramos first drew attention to the pump earlier this year, which attracted many new investors to the Shiba Inu market. Especially between February 22 and March 5. During this period, Shiba Inu experienced a sharp rise, achieving an increase of about 400% in less than ten days.
Therefore, Ramos stressed that the current stimulus measures have just begun and are unlikely to stop soon. It is worth noting that about five days have passed since the current Shiba Inu stimulus measures began, and SHIB has risen by more than 51%.
At the same time, Ramos believes that this rebound will be more significant than the rebound in the first quarter of this year. The analyst highlighted that the $0.00008 price point that SHIB peaked in during the last cycle in 2021 is now within reach.
According to him, recovery of the yearly high of $0.0000458 from March 5 “is a must.”
Ramos noted that the $0.00002 level was a significant resistance level for Shiba Inu a few days ago, and the pair has managed to break through it. He believes that Shiba Inu is currently heading towards a greater resistance level of $0.000045, which he believes is expected to be broken within the remaining four months of the year.
Shiba Inu expected to gain 750% weight
Ramos said that the price of Shiba Inu could hit a new all-time high by 2025. He pointed out that by next year, the price of SHIB will reach an unprecedented $0.00017, which is a realistic goal.
At press time, Shiba Inu is priced at $0.00002, and reaching $0.00017 would represent a staggering 750% growth, potentially delivering a staggering 7.5x return for investors today.
