According to the Analyst, That Meme Coin Started to Move for 100%: Here are the Levels You Should Watch!

Shiba Inu Its price rose to $0.000027 in the last 24 hours, reaching prices last seen in early 2022. However, popular crypto community influencer Oscar Ramos is on track for SHIB to break the previous all-time high and even go as high as $0.0001 in the current market cycle. supports.

The famous name bases his predictions on his experience of witnessing Shiba Inu’s peak performance in October 2021. He also shared a recent article by The Crypto Basic suggesting that such a price move (800% in one week) is within the realm of possibility.

“This is 100% true and the SHIB that will happen reaches $0.0001,” he told his audience. He then added: “I usually keep my expectations realistic for each token. But in October 2021, I witnessed what happened. I know how much true FOMO, hype, and retail money can impact the price of a Shiba Inu.”

Why Shiba Inu Might Rise to $0.0001

In addition to his previous experiences witnessing the Shiba Inu’s bullish performance, the influencer meme coinHe outlined several reasons why it could realistically break the $0.0001 price. He reminded viewers that a $0.0001 price target is more realistic than speculating on whether it will go to a dime or a dollar.

Ramos traded SHIB against other assets, including Ethereum and XRP. He noted that if the Shiba Inu can reach a higher fraction of these assets, a price of $0.0001 would definitely be on the cards.

Oscar Ramos also shared other articles stating that the meme coin is gaining a lot of attention. One of them admits that Shiba Inu is the fourth most traded cryptocurrency and is held by a large number of Ethereum whales.

While talking about Ethereum whales, Ramos noted that the Ethereum price has not yet risen significantly. He added that when Ethereum rises, it typically drags other Ethereum-based tokens with it, of which the Shiba Inu could also be a beneficiary.

Going further, the influencer reminded the audience that the crypto bull market is still in its early stages. According to market analysts, altcoin season usually follows a BTC ATH and during this period the market notes that most coins outperform Bitcoin.

However, Ramos urged investors to monitor their SHIB positions and exit when they begin to see extreme price increases. “When you see prices you never even thought of, like when it goes up to $0.0002; This means a large inflow of money. This is definitely a sign of a bubble. “Leave SHIB and walk away,” he commented.

Source : The Crypto Basic

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