Shiba Inu (SHIB) is stirring the crypto market with projections of significant growth. Top trader Dexter foresees SHIB rising from $0.00001389 to $0.00015, marking an almost 1,000% gain. This optimistic prediction contrasts with SHIB's recent performance, showing only 1.27% growth in 24 hours and 7% in the past week.
Analyst Krao at TradingView presents an even bolder prediction of a 7,300% gain, potentially pushing SHIB to $0.001 by early 2025. Krao's confidence is based on a technical pattern seen on the monthly chart, suggesting a massive rally if SHIB breaks out of its current downward trend.
Conversely, CoinCodex provides a cautious short-term outlook, forecasting a 0.69% decline to $0.00001397 by October 2024. The Fear & Greed Index at 32 indicates a neutral market sentiment, reflecting investor anxiety that could influence SHIB's short-term movements.
Despite recent declines and underperformance compared to other meme coins like PEPE and Dogelon Mars, Dexter remains optimistic. SHIB, with a market cap exceeding $7.78 billion, still holds a significant position in the cryptocurrency market.
Support levels identified by Dexter range between $0.00001076 and $0.0000120. Falling below these levels could result in a substantial drop to $0.000007, indicating a potential 47% decline from its current value and a continued dip from its annual high of $0.000045 in March.
Investors should weigh these diverse predictions from Dexter, Krao, and CoinCodex amid ongoing market uncertainties, as they provide contrasting perspectives on SHIB's future potential.
