Shiba Inu (SHIB) has once again ignited discussions in the cryptocurrency space, thanks to a bold price prediction from leading trader Dexter. With SHIB currently struggling to capitalize on the latest market upswing, Dexter’s forecast that the meme coin could soar to $0.00015 has sparked excitement and debate among investors.
Dexter’s Bullish SHIB Prediction
Dexter, a well-known trader on TradingView, shared an optimistic analysis on SHIB, despite its recent underperformance. He highlighted Shiba Inu’s pioneering role as one of the earliest meme coins and its solid position in the market, noting SHIB’s market cap of over $7.78 billion.
“Shiba Inu was an early meme coin pioneer,” Dexter commented, emphasizing the coin’s resilience. He remains hopeful about SHIB’s long-term potential, stating that the meme coin is still holding its ground in the ever-volatile crypto market.
SHIB is currently priced around $0.00001343, with only a modest 1.27% rise in the last 24 hours. The token has faced challenges in benefiting from the broader crypto market rally, with its price fluctuating over the past few days. Although the recent price action has been lackluster, traders like Dexter are keeping an eye on key price levels that could signal future movement.
Key Price Levels to Watch
Dexter has identified several important price levels for SHIB:
- Main support: $0.00001076 to $0.0000120
- Lower support: $0.000007
- Second buying range: $0.0000056 to $0.0000071
Should SHIB fall below its main support level, it could face a significant drop to lower support, which would translate into a steep 47% decline from its current price. However, Dexter believes this is unlikely in the long run, as SHIB’s fundamentals remain solid.
Future Targets and Investor Hope
Despite short-term struggles, Dexter envisions an optimistic future for SHIB with some ambitious targets:
- Near-term goal: $0.000026 to $0.000033
- Long-term goal: $0.000089 to $0.00015
These targets suggest the potential for SHIB to exceed its previous all-time highs, giving long-term investors hope that the meme coin could rebound stronger than ever.
Also Read: Shiba Inu Set For 15% Surge – Key Indicators Signal A Strong Rally Ahead
While Dexter’s forecast offers a promising outlook, the volatile nature of cryptocurrency markets means that predictions should be approached with caution. SHIB’s price action could be influenced by broader market trends, investor sentiment, and technological developments within its ecosystem. As always, it’s crucial to conduct thorough research and consider risk management strategies before investing.
As Shiba Inu continues to evolve, many will be watching closely to see if Dexter’s bold prediction comes true. Will SHIB reach the coveted $0.00015 mark? Only time will tell.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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