Shiba Inu to $0.001, Key Market Predictions You Need to See
The Crypto Basic delves into key Shiba Inu to $0.001 price predictions.Leading doggy-themed memecoin Shiba Inu (SHIB) broke into the limelight during the 2021 bull run when it closed the year with a staggering 45,000,000% gain. Since then, investors in the asset have continued to hope for a repeat of this success. After all, it is the reason most jumped in.Amid these hopes, one particular price target has dominated discussions: $0.001. At a current price of $0.00001363, a surge to this level will represent an over 7,000% increase for SHIB.Here are some instances where analysts have tipped the memecoin to clinch this milestone.CRYPTO SHERIFF October 2024In October 2024, highly followed crypto analyst CRYPTO SHERIFF tipped SHIB to be on course to hit the $0.001 price point after it broke out of a descending triangle chart pattern it had entered a month before.Specifically, the analyst noted that the targets for the memecoin were $0.00002, $0.0002, and $0.001. At the time, SHIB was exchanging hands for $0.00001855. LuckSide Crypto September 2024In September 2024, prominent crypto YouTuber LuckSide Crypto asserted that signs pointed to a SHIB breakout to $0.001.Notably, these signs were significant whale purchases combined with perceived minimal upside resistance. At the time, the analyst noted that the $0.000016 level was the resistance level to watch.Krao September 2024Still, in September 2024, Krao, another highly followed analyst, tipped SHIB to hit the $0.001. The analyst shared the token's monthly candle chart, contending that it was set to break above a downtrend it has been stuck in since 2021. Krao said the memecoin was on the verge of clinching the long-desired milestone between January 2025 and February 2025.However, as of the time of writing on March 7, 2025, this has yet to materialize.Armando Pantoja August 2024In August 2024, highly followed crypto analyst Armando Pantoja predicted that FOMO (fear of missing out) was about to hit the SHIB market."It's going to $0.001," the analyst wrote, citing a divergence in the relative strength index and a potential breakout from a descending channel on the daily candle chart.Coinpedia Markets July 2024In July 2024, Coinpedia Markets asserted that SHIB could soar between 10x and 100x following the approval of spot Ethereum exchange-traded funds. This would have taken the memecoin to between $0.0001679 and $0.001679 at the time.The analysis was based on the expectation that ETF inflows would send ETH soaring and spark similar rallies in correlated tokens.How Realistic is the $0.001 Target?The debate over whether or not the $0.001 price target for SHIB is realistic has been raging for years, especially as the memecoin will need a $589 billion market cap with its current circulating supply of 589 trillion tokens.For many, the likely catalyst would be a massive spike in token burns. One factor that could drive this is the adoption of Shiba Inu's Ethereum Layer 2 project, Shibarium.
Text source: The Crypto Basic
