{"id":600130,"date":"2024-03-28T21:00:28","date_gmt":"2024-03-28T21:00:28","guid":{"rendered":"https:\/\/ktsl888.com\/?p=600130"},"modified":"2024-06-11T08:29:35","modified_gmt":"2024-06-11T08:29:35","slug":"shiba-inu-going-to-0-0001","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/shiba-inu-coin\/shiba-inu-going-to-0-0001\/","title":{"rendered":"Shiba Inu Going To $0.0001: Crypto Analyst Reveals What Will Drive The Rally"},"content":{"rendered":"

Shiba Inu has gone on <\/span>various price spikes<\/span><\/a> in the past few months amidst a surge in activity and <\/span>interest in the meme coin<\/span><\/a>. This price movement has prompted traders and analysts to ponder on when <\/span>SHIB can reach<\/span><\/a> the much coveted $0.0001 mark, a price level which it has largely failed to reach despite the impressive price action.\u00a0<\/span><\/p>\n

Micheal_EWPro, a crypto analyst, posted an analysis on when SHIB could potentially reach the $0.0001 price level. According to him, the current dynamics could push SHIB above $0.0001 in June. Interestingly, his price prediction is based on the Elliott Wave Theory.<\/span><\/p>\n

Analyst Reveals SHIB Is Going To $0.0001<\/h2>\n

According to the SHIB chart shared by Michael on the 3-day candlestick formation, the meme coin’s price formation since 2022 has largely followed the <\/span>Elliott Wave count<\/span><\/a>. The Elliot Wave Theory is basically a technical analysis method that analyses price movement traditionally in terms of a 5-wave move in the direction of the larger trend and a 3-wave correction in the opposite trend.<\/span><\/p>\n

Related Reading: XRP Price Enters Pre-Bull Rally Phase: Crypto Analyst Reveals Next Target<\/a><\/div>\n

Each of these Elliott Wave can be further subdivided into various patterns of smaller degree impulses based on their formations. However, all the subdivisions add up to one larger wave impulse.<\/span><\/p>\n

Using this knowledge of Elliot Wave Theory, the analyst noted that SHIB has started the formation of the third of five larger degree waves since October 2023 albeit with smaller degree impulses which he labelled as i, ii, iii, iv, and v. Traditionally, the third Elliot Wave is usually the largest and most powerful wave in a trend where most of the price action takes place. As a result, his analysis points to the third wave ending at a price just above $0.0001 in the first week of June.<\/span><\/p>\n

The analyst did implore a take-profit at $0.00008854 and a final price target of $0.00010191, while also noting that the bulls still have some work to do before this price point can come to a reality.\u00a0<\/span><\/p>\n

\n

$SHIB<\/a> bulls got a little work to do here on 3D but after that I think it sends to my sub 5 TP pic.twitter.com\/YQLQqw8bxH<\/a><\/p>\n

\u2014 BigMike7335 (@Michael_EWpro) March 24, 2024<\/a><\/p><\/blockquote>\n

What\u2019s Next For Shiba Inu?<\/h2>\n

Shiba Inu <\/span>has reversed since<\/span><\/a> reaching $0.00004456 and has majorly traded between $0.000030 and $0.0000275 since the beginning of the week. However, analysts and SHIB enthusiasts <\/span>remain positive,<\/span><\/a> especially with SHIB <\/span>securing a listing<\/span><\/a> on an Australian-based crypto exchange.<\/span><\/p>\n

Related Reading: The Road To $100,000: Bitcoin Whale Accumulation Explodes<\/a><\/div>\n

This positive sentiment recently <\/span>pushed SHIB to second place<\/span><\/a> in crypto searches. At the same time, Shiba Inu’s layer-2 platform, Shibarium, has seen its <\/span>TVL surging<\/span><\/a> to a new <\/span>high of $3.9 million<\/span><\/a>.<\/span><\/p>\n

At the time of writing, SHIB is trading at $0.00003097, up by 14% in the past seven days.\u00a0<\/span><\/p>\n

\"Shiba<\/p>\n

SHIB price at $0.000031 | Source: SHIBUSDT on Tradingview.com<\/a><\/pre>\n
Featured image from TronWeekly, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Shiba Inu has gone on various price spikes in the past few months amidst a surge in activity and interest in the meme coin. This price movement has prompted traders and analysts to ponder on when SHIB can reach the much coveted $0.0001 mark, a price level which it has largely failed to reach despite the impressive price action.\u00a0 Micheal_EWPro, a crypto analyst, posted an analysis on when SHIB could potentially reach the $0.0001 price level. According to him, the current dynamics could push SHIB above $0.0001 in June. Interestingly, his price prediction is based on the Elliott Wave Theory. Analyst Reveals SHIB Is Going To $0.0001 According to the SHIB chart shared by Michael on the 3-day candlestick formation, the meme coin’s price formation since 2022 has largely followed the Elliott Wave count. The Elliot Wave Theory is basically a technical analysis method that analyses price movement traditionally in terms of a 5-wave move in the direction of the larger trend and a 3-wave correction in the opposite trend. Related Reading: XRP Price Enters Pre-Bull Rally Phase: Crypto Analyst Reveals Next Target Each of these Elliott Wave can be further subdivided into various patterns of smaller degree impulses based on their formations. However, all the subdivisions add up to one larger wave impulse. Using this knowledge of Elliot Wave Theory, the analyst noted that SHIB has started the formation of the third of five larger degree waves since October 2023 albeit with smaller degree impulses which he labelled as i, ii, iii, iv, and v. Traditionally, the third Elliot Wave is usually the largest and most powerful wave in a trend where most of the price action takes place. As a result, his analysis points to the third wave ending at a price just above $0.0001 in the first week of June. The analyst did implore a take-profit at $0.00008854 and a final price target of $0.00010191, while also noting that the bulls still have some work to do before this price point can come to a reality.\u00a0 $SHIB bulls got a little work to do here on 3D but after that I think it sends to my sub 5 TP pic.twitter.com\/YQLQqw8bxH \u2014 BigMike7335 (@Michael_EWpro) March 24, 2024 What\u2019s Next For Shiba Inu? Shiba Inu has reversed since reaching $0.00004456 and has majorly traded between $0.000030 and $0.0000275 since the beginning of the week. However, analysts and SHIB enthusiasts remain positive, especially with SHIB securing a listing on an Australian-based crypto exchange. Related Reading: The Road To $100,000: Bitcoin Whale Accumulation Explodes This positive sentiment recently pushed SHIB to second place in crypto searches. At the same time, Shiba Inu’s layer-2 platform, Shibarium, has seen its TVL surging to a new high of $3.9 million. At the time of writing, SHIB is trading at $0.00003097, up by 14% in the past seven days.\u00a0 SHIB price at $0.000031 | Source: SHIBUSDT on Tradingview.com Featured image from TronWeekly, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":600164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[167,6664,26263,14690,83668,89178,84473,83667,89157,86437,84562,84558],"class_list":["post-600130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-shib","tag-shib-news","tag-shib-price","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-price","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShiba Inu Going To $0.0001: Crypto Analyst Reveals What Will 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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