In contrast to the investor’s fear, September has turned out to be very bullish, especially for the Shiba Inu, as it has surged to a three-month high. It happened after the crypto market began to rise following the Fed 50 bps interest rate cut. As a result, the SHIB price has hit new highs, thanks to a 51% surge over the week. Sadly, the price has begun to decline today, which is concerning many. However, this one expert’s analysis has turned the worries into excitement.
Crypto Experts Claims Shiba Inu To Reach $0.00016
SHIB is the second most popular token in the meme-themed coins category, where it has presented heavy gains for its holders. Its heavy gains are also visible in the last few day’s trades, as the Shiba Inu price has surged to a three-month high at $0.00002148. However, the value has plunged today, currently at $0.00001964 with a market capitalization and trading volume of $11,571,705,258 and $1,411,672,336.
However, despite the drop, the dog-themed meme coin is still in the strong buying zone, where the RSI indicates an overbuying of the token, leading to the SHIB price consolidation today. Once this sentiment gets over, an uptrend might begin especially if the token crosses the third resistance at $0.00002172.
Regardless, this is just a start as a crypto expert, Oscar Ramos believes this is just the start. He brought people’s attention to SHIB at the beginning of the year when SHIB’s price grew 400% within just ten days during the March rally. At that time, the SHIB price hit $0.0000356, the highest peak since its ATH of $0.00008845 set three years ago.
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1. $0.00002 REACHED, 1st step
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3. Current #SHIB ATH is in Danger Now
4. 750% PUMP is Realistic (00017 per SHIB)
5. MORE BURNS INCOMING?
6. I opened a 100x Position yesterday and I’m up 100%! pic.twitter.com/GvyMJckDM9— Oscar Ramos (@realOscarRamos1) September 27, 2024
With Ramos’s attention to this meme coin, many investors connected with it and are eyeing another similar rally. It is because the experts have claimed another rally is to happen, pushing it to the ATH, not just the March high. As per him, there is a significant resistance level at the $0.00002 level, which the token has overcome already, and the token is headed to the $0.000045 level.
However, he also clarified that this will happen by the end of 2024, and the end target is much more than this. Ramos believed that $0.000045 is a must-happening event before SHIB price surges 750% to reach a new ATH of $0.00017 or lower in 2025.
Final Thoughts
Shiba Inu was lacking on the charts up to a few days ago, but it has covered all three months’ losses in just a week, rising almost 51%. However, it has now entered a consolidation period as the investors pushed it into the overbuying zone. Meanwhile, the Dogecoin price rally is also giving competition to the Shiba Inu token. Despite that, there is hope for new gains, considering the current market conditions and the technical factors showing heavy demand for this meme coin. Even popular crypto analyst Oscar Ramos has declared that this is the beginning for this popular meme-themed crypto, as the SHIB price could rise to a new high of $0.00016 in 2025.
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