- SHIB’s recent surge prompts speculation of millionaire status for traders.
- Industry experts project an ambitious target of $0.0001 for SHIB.
- SHIB faces challenges in achieving its $0.001 target, requiring significant investment.
In a recent Twitter post by influencer Keyur Rohit, it was observed that the recent buzz surrounding Shiba Inu (SHIB) had prompted numerous cryptocurrency experts to delve into the possibility of the meme coin catapulting traders into the millionaire club. This speculation was largely driven by the remarkable surge in SHIB’s price, which recorded a staggering 16% increase in the past three days.
In addition to the Shibarium launch, which generated significant excitement, it is worth considering other factors that contributed to the hype. Considering these elements, Rohit, a prominent figure in the crypto industry, mentioned in his post that industry experts have projected an ambitious target of $0.0001 for SHIB.
It is crucial to remember that SHIB still faces significant challenges in achieving its $0.001 target, as its price would need to surge by approximately 952%. Even if this remarkable milestone is attained, Rohit, in his post, highlighted that traders would require a minimum of 10 billion SHIB tokens to attain millionaire status. This would entail an investment of approximately $95K at the current price of SHIB.
In the crypto industry, CoinMarketCap reported a decline of over 4% in SHIB’s price during the last 24 hours of trading, resulting in a trading value of $0.000009259. However, it is worth noting that SHIB has experienced positive growth of over 10% throughout the past week.
From a technical standpoint, SHIB was currently hovering above the critical support level of $0.00000915. However, should today’s daily candle close below this level, it may face a test of the subsequent support level at $0.00000819 in the upcoming week. Furthermore, if selling pressure persists, it could drive this meme coin’s price further down to $0.00000757.
In contrast, should SHIB’s price successfully conclude the next two consecutive daily candles above $0.00000915, it will probably endeavor to test the crucial resistance level at $0.00001075. A breach beyond this threshold will pave the way for SHIB’s price to ascend towards $0.00001185 within 48 hours.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
