Bitrabo Editorial
An analyst specializing in cryptocurrencies has put forward various price targets for the popular dog-themed cryptocurrency, Shiba Inu (SHIB). The analyst has projected a potential highest price level of $0.0001605 for SHIB in the coming years.
Predictions for Shiba Inu’s Future
Abmoon, a crypto analyst at TradingView, has shared optimistic forecasts for Shiba Inu. Based on his analysis, the meme coin could hit several price targets, potentially propelling it to new all-time highs.
Abmoon’s interest in Shiba Inu has led him to invest in the cryptocurrency and conduct an in-depth analysis of SHIB’s price movements.
The analyst has outlined six price targets for Shiba Inu, with the first target predicting a modest surge of up to 163% for the meme coin.
He foresees significant price increases in subsequent targets, with projections ranging from 272% to an impressive 1,487% surge to achieve new highs within the $0.0001606-$0.000165 range.
Abmoon acknowledges that these predictions are long-term and targets 2 to 6 may take years to materialize. He plans to sell portions of his holdings at different target levels.
Potential for Meme Coins Reaching New Highs
In a recent post, crypto analyst Andrew Kang hinted that meme coins, including Shiba Inu, could potentially reach new all-time highs in the current market cycle. Despite recent declines, Shiba Inu has maintained strong trading volume.
Kang highlighted the vast number of meme coins in the market and suggested that only a select few might achieve new highs, positioning Shiba Inu as a contender given its significant market capitalization and large community.