• Popular crypto analyst SHIB Knight has said Shiba Inu could touch $0.0001 this June. 

• Shiba Inu’s recent price action suggests a resilient market sentiment.

Shiba Inu (SHIB) has shown signs of recovery after a brief dip, sparking optimism among analysts who foresee a significant price surge. The meme coin recently hit a daily high of $0.00002519, marking a 4.57% increase from its low of $0.00002409. This rebound has reignited speculation about SHIB’s potential to reach unprecedented heights.

SHIB Knight’s Bold Prediction

Crypto analyst SHIB Knight has stated that Shiba Inu could reach $0.0001 this June. This target would represent a substantial 300% rally from current levels and set a new all-time high for the token, surpassing its previous peak of $0.00008845.

SHIB Knight’s forecast is grounded in his track record of accurate predictions. On February 22, when SHIB was trading at $0.0000097, he correctly anticipated its rise to $0.000014, a 12-month high. He later projected a target of $0.000022, which SHIB achieved within days. He believes the meme coin is poised to break out of its two-month downtrend and reach the $0.0001 milestone.

A 300% rally might seem ambitious, but it’s not uncharted territory for Shiba Inu. Between late February and early March, SHIB soared by an impressive 373% in less than ten days, demonstrating its capacity for rapid growth.

SHIB Knight’s bullish outlook is echoed by other market watchers. Eunice Wong anticipates a “second leg” rally that could propel SHIB to $0.000125. Similarly, Javin Marks suggests that a rebound to $0.000081 might pave the way for a surge to $0.0001553.

These predictions indicate a growing consensus among analysts that Shiba Inu is on the brink of a significant upward movement. The convergence of these forecasts lends credibility to the notion that SHIB could reach the $0.0001 level in the coming weeks.

Market Conditions and Technical Factors

The optimism surrounding Shiba Inu is not solely based on speculation. Technical analysis plays a crucial role in these predictions. SHIB Knight’s February forecast was founded on the formation of symmetrical triangles on SHIB’s chart, a pattern often associated with bullish breakouts.

Moreover, Shiba Inu’s recent price action suggests a resilient market sentiment. Despite experiencing a pullback after reaching a two-month high five days ago, SHIB has quickly recovered, erasing losses incurred in the past 24 hours. This rapid rebound indicates strong buying interest and support at lower levels.

Shiba Inu (SHIB), the popular meme cryptocurrency, has experienced a significant downturn in its price over the past 24 hours. According to CoinMarketCap data, SHIB’s value has dropped by 5.03%, bringing its current trading price to $0.00002382. This decline is in stark contrast to the token’s trading volume, which surged by 33% to $639.8 million in the same period. SHIB decreased by more than 8% during the last week and 6.5% throughout the past month. At that time, the market capitalization of the meme cryptocurrency was $14.09 billion.