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A prominent Bitcoin analyst has boldly asserted that Shiba Inu may not surpass the $0.000114 price level this bull season.
Shiba Inu bulls have run out of steam as the SHIB price stalls at $0.00002486. At this value, Shiba Inu marks only a 1.5% gain over the past day, with its 24-hour trading volume down by over 46%. Nonetheless, over the last seven days, Shiba Inu has grown by an impressive 26%, soaring from $0.00002071 to $0.00002615.
Meanwhile, market participants eagerly await the bull rally that would drive SHIB to a new price territory. Shiba Inu last established new price territories three years ago, and the bears have continued to have the upper hand since then.
Emphatically, SHIB is down 72% from its October 2021 all-time high of $0.00008845. However, with the onset of the bull market, anticipations continue to heighten for when Shiba Inu could make a new history.
Shiba Inu to Max at $0.000114
Recently, a SHIB enthusiast sought Dona’s expert opinion, a widely followed Bitcoin analyst, on Shiba Inu’s outlook. The inquiry came after Dona updated his analysis on Dogecoin with commendable results from his earlier prediction. In particular, he foreshadowed DOGE’s path to $1, and Dogecoin continued to mirror his outlined trajectory.
In response to the inquiry on Shiba Inu, the analyst presented a chart on the 24-hour timeframe, suggesting a path to $0.000114. Accordingly, Dona boldly stated that he does not see Shiba Inu “going any higher than” $0.000114. Essentially, the analyst expects Shiba Inu to max at the projected range in this bull market.
$SHIB
i don't see it going any higher than that 🤝 https://t.co/tz57OyvCL4 pic.twitter.com/P56SUZKMY6
— Dona.inj🥷 (@CryptoDona7) May 4, 2024
Views of Other Analysts
Other market watchers and commentators agree that the $0.00011 territory could be where Shiba Inu tops out this season. Looking at the asset’s history, Shiba Inu could cancel more zeros this season. Amid the prevailing bullishness, lofty targets at $0.19 have come up. However, analysts with perspective are few.
Notably, Shiba Inu requires only a 358% upswing to break the unprecedented $0.000114 price territory. Interestingly, just two months ago, Shiba established a higher percentage growth in under ten days.
On February 26, SHIB traded at $0.000009483 but rallied by 378% to regain $0.00004534 on March 5, one of its 2021 tops.
Meanwhile, Changelly exchange researchers believe Shiba Inu may not establish a new all-time high this cycle. They project a maximum price of $0.000059994, a view widely contested by independent analysts.