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Historical Trends Suggest Shiba Inu Price Will Rally 1,000% To $0.00024, Analyst Reveals When
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Historical Trends Suggest Shiba Inu Price Will Rally 1,000% To $0.00024, Analyst Reveals When

Scott Matherson
Scott Matherson
11 months ago
3 mins read
Shiba Inu

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Crypto analyst Eljaboom has provided insights into how Shiba Inu (SHIB) could rise in this bull run. The analyst alluded to history to show that the second-largest meme coin by market cap can still reach unprecedented heights.  

Shiba Inu To Reach $0.00024 In This Bull Run

Eljaboom suggested in an X (formerly Twitter) post that Shiba Inu will rally by over 1,000% to reach $0.00024 in this bull run. This came following his remarks that history was repeating itself for SHIB. The accompanying chart he shared showed that the analyst was expecting Shiba Inu to experience a similar price surge as it did in 2021, although way higher this time around.

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Shiba Inu
Source: X

Crypto analyst Crypto Emily seemed to agree with Eljaboom’s prediction, stating that anyone who has lost faith in Shiba Inu is “clueless.” Meanwhile, Eljaboom’s prediction aligns with other crypto analysts who predict that Shiba Inu will shed another zero and rise to $0.0001. One is Javon Marks, who predicts that SHIB will eventually rise to $0.0001553. 

Crypto analyst Capt Toblerone shared a similar prediction to Eljaboom’s own while using the Elliot Wave Theory to analyze Shiba Inu’s chart. The chart showed that SHIB will rise to $0.00022 when wave 3 of the five-way sequence occurs. Interestingly, the analyst suggested that Shiba Inu’s rise to this price level could happen by September this year. 

Meanwhile, other crypto analysts, like Armando Pantajo, have made more bullish price predictions for SHIB in this bull run. Pantajo predicted that Shiba Inu would shed two zeros and rise to $0.001. Crypto analyst Ali Martinez went one further and predicted that Shiba Inu could shed three zeros and rise to $0.011.

Factors That Can Spark Shiba Inu’s Unprecedented Price Surge

Several factors could contribute to Shiba Inu’s parabolic rise to such heights. One is the institutional adoption of the meme coin. The Shib community has been actively working towards achieving this by petitioning Grayscale to consider launching a SHIB ETF. Interestingly, this petition has gained over 10,000 signatures, highlighting the community’s dedication to the cause. 

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The potential launch of a Shiba Inu ETF would bring new money into the meme coin’s ecosystem, which could trigger this parabolic price surge. New money is also expected to flow into the SHIB ecosystem when the team finally launches the proposed privacy-focused layer-3 network. More users are expected to troop into the Shiba Inu ecosystem to enjoy such utility.

Meanwhile, layer-2 network Shibarium undoubtedly still has a significant role to play in SHIB’s growth. The network has already committed to using some of the network fees earned for Shiba Inu token burns. As such, Shibarium can be expected to carry out massive token burns again once daily transactions on the network pick up. 

Shiba Inu price chart from Tradingview.com
SHIB price jumps | Source: SHIBUSDT on Tradingview.com
Featured image created with 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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