thecryptobasic.com
Shiba Inu has netted over a 51% surge in the last few days, with a notable analyst predicting a more substantial 7X price rally to $0.00017.
Shiba Inu has been among the best-performing crypto assets in the ongoing bull run, breaking a three-month high in the last 24 hours. At press time, it is trading above the $0.00002 price level, which was last seen in mid-July.
Within the past day, Shiba Inu’s bull run sent it to $0.00002156, erasing all losses from the last three months. Considering that SHIB was worth $0.0000143 just four days ago, the meme coin has registered a massive 51% gain in under a week.
However, Shiba Inu has seen a brief pullback since reaching the three-month high on Friday. Its floor price hovers just above $0.00002, threatening to break below this level. This results as some holders move to capitalize on recent gains, believing Shiba Inu’s bull run has become overheated.
Meanwhile, prominent market watchers like Oscar Ramos from the Shiba Inu community believe the party is only just getting started, boldly claiming he knows where SHIB is headed. He expressed this sentiment in a recent analysis shared on X.
Shiba Inu Only Just Getting Started
Ramos first drew attention to the pumps earlier this year, which attracted many new investors to the Shiba Inu market. This was particularly between February 22 and March 5. During this period, Shiba Inu experienced a dramatic upswing, achieving approximately 400% growth in less than ten days.
As a result, Ramos stressed that the ongoing pump is only just beginning and is unlikely to stop soon. Notably, it has been around five days since the current Shiba Inu pump commenced, and SHIB has registered over a 51% gain.
Meanwhile, Ramos believes this rally will be more significant than the one seen in the first quarter of the year. The analyst highlighted the $0.00008 price point, around which SHIB peaked in the last 2021 cycle, as now being within reach for SHIB.
According to him, reclaiming the yearly high of $0.0000458 from March 5 “is a must.”
Ramos noted that the $0.00002 level was a significant resistance barrier for Shiba Inu just days ago, and it has successfully overcome it. He believes Shiba Inu is now headed for the more major resistance at the $0.000045 level, which he considers attainable in the remaining four months of the year.
Shiba Inu On Track to Pump by 750%
Ramos suggested that Shiba Inu could set a fresh all-time high by 2025. He outlined the unprecedented price level of $0.00017 as a realistic target for SHIB by next year.
For context, with Shiba Inu at $0.00002 at press time, reaching $0.00017 would amount to a staggering growth of 750%, potentially netting today’s investors a remarkable 7.5X return.