An expert in the cryptocurrency market has given an optimistic prognosis about Shiba Inu, underlining the enormous gains that investors might possibly harvest if the price of the cryptocurrency sees this exponential increase.
On the Road to $0.0001 for Shiba Inus
Oscar Ramos, a cryptocurrency investor and analyst, recently made a post on X (which was then known as Twitter) in which he voiced his strong conviction in the optimistic prognosis for Shiba Inu. Ramos predicted that the price of the memecoin with a canine motif may shed off a zero and reach a price of $0.0001. The cryptocurrency researcher believes that there is a one hundred percent chance that Shiba Inu will reach this price level during the bullish cycle that will occur in 2024.
He based his projections on Shiba Inu's previous price movements, highlighting the cryptocurrency's enormous surge to an all-time high of $0.00008 in October 2021. Ramos's estimations were based on Shiba Inu's historical price moves. Using the perfect mix of excitement, momentum, and Fear Of Missing Out (FOMO), the analyst has proposed that SHIB might enjoy spectacular price increase. This would be brought about by the confluence of these three factors.
Additionally, he acknowledged that the participation of retail investors would have a significant impact on the dynamics of the SHIB market. He predicted that a significant flood of retail money into SHIB may potentially accelerate the price of the cryptocurrency to $0.0001.
A price chart of SHIB was shared by Ramos, who said that the cryptocurrency is presently in its candle week. He predicted that the cryptocurrency may have a possible increase of more than 140%, going from $0.00008 to $0.0002. The fact that Shiba Inu has been slowly progressing towards this price level, displaying a remarkable bullish trajectory, even before the altcoin season and the 2024 Bitcoin halving, was something that he brought to everyone's attention.
An investor in cryptocurrencies has highlighted the significant profit potential for Shiba Inu investors. The investor has emphasized that investors who had first acquired the token at $0.00008 would now be enjoying rewards of more than 150% in value.
The Price Increase of $1 for SHIB Is Still Uncertain
Within the context of this bullish cycle, Ramos said that it was very improbable that the Shiba Inu would reach the sought price threshold of $1 or $0.1 during this trading period.
The expert cited the wide total supply of SHIB tokens, which extends to trillions of tokens, as evidence of the minimal influence that SHIB burns have on the value of the cryptocurrency. In addition to this, he said that in order for Shiba Inu to achieve a price of $0.0001, it "must have a total market capitalization of over $60 billion."
The cryptocurrency expert has revealed that there is a possibility that SHIB would exceed his prior estimates of $0.0001 in value, despite the fact that he has some qualms about the possibility of SHIB reaching $1.
In the event that Shiba Inu has remarkable growth and achieves an explosive price of $0.002 during the altcoin season, Ramos has said that this might be a sign that the cryptocurrency has reached its highest point in popularity. He recommended that investors get out of the market at this period of time before there is a possibility of a price correction occurring.
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