A crypto analyst has made a bullish prediction about Shiba Inu, highlighting the immense profits investors could potentially reap if the cryptocurrency’s price experiences this exponential growth.
Shiba Inu Roadmap To $0.0001
In a recent X (formerly Twitter) post, cryptocurrency investor and analyst, Oscar Ramos expressed strong belief in the bullish outlook for Shiba Inu, predicting that the price of the doggy-themed memecoin could shed off a zero to attain a price of $0.0001. The crypto analyst asserts a 100% likelihood of Shiba Inu ascending to this price level during the 2024 bullish cycle.
Ramos based his forecasts on Shiba Inu’s historical price actions, emphasizing the cryptocurrency’s massive rally to an all-time high of $0.00008 in October 2021. The analyst has suggested that SHIB could experience explosive price growth if fuelled by an optimal combination of hype, momentum and Fear Of Missing Out (FOMO).
He also disclosed that the involvement of retail investors will have a notable influence on SHIB’s market dynamics, predicting that a substantial influx of retail funds into SHIB could propel the cryptocurrency’s price to $0.0001.
Sharing a price chart of SHIB, Ramos noted that the cryptocurrency is currently in its candle week, anticipating a potential surge of over 140% from $0.00008 to $0.0002. He highlighted that Shiba Inu has been steadily advancing towards this price level, demonstrating a noteworthy bullish trajectory, even before the altcoin season and the 2024 Bitcoin halving.
The crypto investor has underscored the considerable profit potential for Shiba Inu investors, emphasizing that investors who had initially purchased the token at $0.00008 would now be reaping gains of over 150% in value.
SHIB’s $1 Price Surge Remains Uncertain
In his forecasts, Ramos revealed that achieving the coveted $1 or $0.1 price mark for Shiba Inu was unlikely during this bullish cycle.
The analyst pointed out the limited impact of SHIB burns in enhancing the cryptocurrency’s value, citing SHIB’s extensive total supply extending to trillions of tokens. He also pointed out that Shiba Inu “must have a total market capitalization of over $60 billion” before it can reach a price of $0.0001.
Despite his reservations about SHIB’s potential to reach $1, the crypto analyst has disclosed possibilities for SHIB to surpass his earlier predictions of $0.0001.
Ramos has suggested that if Shiba Inu undergoes unprecedented growth, achieving an explosive price of $0.002 during the altcoin season, it could signify the cryptocurrency’s peak price. He advised investors to exit the market during this time before a potential price correction occurs.