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Breaking News: Bitcoin Price Falls Under $100,000: Elliott Wave Analysis Forecasts Decline To $70,000

Crypto Analyst Predicts Shiba Inu Price To Surge Above $0.00001

Scott Matherson
Scott Matherson
Last Updated: June 11, 2024 7:08 am
3 mins read
Shiba Inu

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After months of experiencing slow growth, the Shiba Inu native token SHIB has begun riding the bull market wave and surging with new gains. As a result, a crypto analyst has predicted new highs for the doggy-themed cryptocurrency, estimating the price of SHIB to reach $0.00001.

Analyst Foresees Bullish Trajectory For Shiba Inu

Crypto analyst and investor SHIB Knight took to X (formerly Twitter) on Monday to discuss SHIB’s recent price movements. Lately, the doggy-themed token has been witnessing significant price increases, pushing it closer to the coveted $0.00001 price mark. 

According to CoinMarketCap, SHIB has recorded about 1.32% in gains over the last seven days and is trading at a price of $0.000009 at the time of writing. 

Martinez shared a chart illustrating SHIB/Tether’s price movements. He disclosed that the price of SHIB was experiencing a technical breakout on a two-hour chart from the downtrend that has been plaguing the cryptocurrency market. This suggests that the Shiba Inu token may be on its way to a price recovery after experiencing significant declines despite its flourishing ecosystem and community.

Subsequently, SHIB Knight shared another chart showing SHIB’s price movement with an arrow pointing toward a surge to $0.000014. The crypto analyst predicted that SHIB could pump at any time, suggesting that investors should stay alert and keep watch of the cryptocurrency’s present bullish outlook. 

Shiba Inu price chart from Tradingview.com (SHIB Crypto analyst)

SHIB price at $0.00000899 | Source: SHIBUSD on Tradingview.com

Analyst Predicts SHIB To Surge To $0.01

As the crypto market gradually exits bearish trends that have been causing the declines of many altcoins, SHIB has positioned itself at the forefront of the potential market recovery, preparing for the anticipated 2024 bull run. 

Crypto analyst Ali Martinez disclosed in an X post that SHIB is gearing up for a significant upswing that could push it to unprecedented highs. Martinez shared a chart initially published on TradingView, illustrating the price trends and movements of SHIB from November 2023 to February 2024. 

The chart revealed red and green zones in Shiba Inu’s token price trend. Relying on his analysis of these price movements, Martinez predicted that the value of SHIB could climb as high as $0.010 or potentially surpass that price mark to $0.011. The occurrence of this event could signify a potential breakthrough for the cryptocurrency as SHIB has only been able to achieve an all-time high of $0.0009 since its inception. 

Featured image from Dall.E, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

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