Shiba

Shiba Inu

Rise

<a href="https://bitcoinist.com/crypto-analyst-predicts-1300-for-cardano/">Crypto analyst Ali Martinez</a> recently presented a bullish narrative for <a href="https://bitcoinist.com/shiba-inu-team-show-how-to-move-bone-to-shibarium/">Shiba Inu’s (SHIB) price</a>, which could see the meme coin rise to as high as $0.011. This price prediction has no doubt raised some eyebrows, considering SHIB’s current price.&nbsp; 
<h2 id="how-shiba-inu-could-rise-to-as-high-as-0-011">How Shiba Inu Could Rise To As High As $0.011</h2> 
Martinez mentioned in an X (formerly Twitter) <a href="https://x.com/ali_charts/status/1752356783513838036?s=20" rel="nofollow" target="_blank">post</a> that the TD Sequential indicator was “currently flashing a buy signal, hinting that SHIB could be <a href="https://bitcoinist.com/shiba-inu-ready-for-upswing-crypto-analyst-says/">gearing up for an upswing</a>.” This indicator seems to be very valuable in determining the meme coin’s trajectory, as the analyst noted that it “has proven remarkably precise in predicting SHIB’s price movements.&nbsp; 
Martinez further urged <a href="https://bitcoinist.com/tron-founder-stacks-up-shiba-inu-holdings/">crypto investors</a> to keep an eye out for SHIB as it could climb to $0.010 or “<a href="https://bitcoinist.com/shiba-inu-to-1-ai/">potentially even reach $0.011</a>.” That price level immediately triggered doubts among some of Martinez’s followers. One X user, in particular, <a href="https://x.com/samrat_lol/status/1752540614447534234?s=20" rel="nofollow" target="_blank">stated</a> that he didn’t understand the analysis as SHIB’s current price stood at around $0.000009106. 
<img loading="lazy" decoding="async" class="alignnone size-medium wp-image-278472 aligncenter" src="https://bitcoinist.com/wp-content/uploads/2024/02/Shiba-inu-price.png?w=512&amp;resize=512%2C348" alt="Shiba inu price" width="512" height="348" data-recalc-dims="1"> 
Martinez’s prediction also seems farfetched, considering that SHIB has never come close to that price level before. Currently, SHIB’s all-time high stands at $0.00008845, which is still a far cry from $0.011.&nbsp; 
Interestingly, <a href="https://shiba-burn-tracker.com/shiba-inu-statistics" rel="nofollow noopener" target="_blank">Shiba Inu’s burn tracker</a> had <a href="https://bitcoinist.com/shiba-inu-burns-bright-shib/">suggested</a> that the ‘$0.01’ dream was still a long way from being actualized, as about 85% of the meme coin’s circulating supply will need to be burned for that to happen. Meanwhile, crypto YouTuber Jeff <a href="https://bitcoinist.com/shiba-inu-will-take-years-burn-supply-100-billion/">stated</a> that it would take over a million years for SHIB’s supply to be reduced to 100 billion, making it almost impossible for SHIB to hit $0.01.&nbsp; 
<h2 id="shib-burns-still-integral-to-any-price-rally">SHIB Burns Still Integral To Any Price Rally</h2> 
Despite $0.01 looking unattainable based on how much of the token needs to be burned, there is no doubt that the <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-shib-burns/" rel="nofollow noopener" target="_blank">SHIB burns</a> are still integral to any upward price movement. Shibburn, the SHIB burn tracker, revealed in an <a href="https://x.com/shibburn/status/1752924186505285850?s=20" rel="nofollow" target="_blank">X post</a> that almost 10 billion SHIB tokens were burned in the month of January.&nbsp; 
This is impressive, considering that the <a href="https://bitcoinist.com/shiba-inu-shibarium-network/">Shiba Inu ecosystem</a> was only able to hit this <a href="https://bitcoinist.com/shiba-inu-burns-bright-shib/">milestone twice last year</a> (in May and December). Meanwhile, these burns no doubt contributed to the meme coin rising to as high as $0.0000106 in January. Notable, SHIB experienced a price breakout on January 11, just two days after <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-9-35-billion-shib-burn/" rel="nofollow noopener" target="_blank">9.35 billion SHIB tokens were burned</a>.&nbsp; 
At the time of writing, SHIB is trading at around $0.000008909, down over 1% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="nofollow noopener" target="_blank">data</a> from CoinMarketCap. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/CdAXxFIj/" alt="Shiba Inu price chart from Tradingview.com (Crypto analyst)" width="3266" height="1530">

Crypto Analyst Predicts Historic 122,000% Surge For Shiba Inu Price, Here’s The Target

목차

Bitcoinist

2024년 2월 1일에 게재된 다른 기사

Naira devaluation is part of Nigeria’s big plan – Details

Ithaca Finance raises $2.5m to build on-chain options protocol

Distinctive Generative Pixel Art-Based Mobile Collectible RPG “Meta Toy DragonZ SAGA” Coming to ...

Jupiter ($JUP) Token Launch Could Accelerate Solana Ecosystem Expansion

10 Best Cryptocurrencies To Stake For Highest APY In 2024

Ark Invest Breaks Down What it Would Take for Bitcoin to Hit $2.3M

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!