Shiba Inu (SHIB), the self-proclaimed “Dogecoin Killer,” has had a rough few weeks. After a strong start to 2024, the meme coin has succumbed to broader market forces, plummeting over 30% and currently sits at $0.0000291. However, prominent crypto analyst Javon Marks remains bullish on SHIB, predicting a “rocket launch” that could propel the token far beyond its previous all-time high.
Recovering From a Correction
Shiba Inu’s recent price decline mirrors the correction experienced by Bitcoin and the broader cryptocurrency market. While the price has shown some signs of recovery in the last 24 hours, it remains significantly lower than its March 5th peak of $0.00004534.
Marks, known for his optimistic SHIB predictions, reiterates his earlier target of $0.000081, a price point representing a still impressive 147% gain from the current price. Notably, this target aligns with the peak SHIB reached during the 2021 bull run.
But Marks doesn’t stop there. He argues that a surge to $0.000081 would pave the way for even greater heights. His ultimate prediction? A mind-blowing 433% increase, pushing SHIB to a previously unseen price of $0.0001553.
A Hopeful Community Awaits
With SHIB’s all-time high of $0.00008845 within reach, Marks’ prediction has undoubtedly captured the attention of the SHIB army. Many investors are eager to see the meme coin recapture its past glory and establish new records in this bull season.
It’s crucial to remember that this information is for informational purposes only and should not be taken as financial advice. Cryptocurrency investments are inherently risky, and thorough research is essential before making any investment decisions.
Shiba Inu (SHB) Market Outlook
At the time of writing on March 19, 2024, the global cryptocurrency market capitalization stands at $15.97 billion, reflecting a decline of 7.29% over the past day. Shiba Inu (SHIB) is currently trading at $0.00002709, with a 24-hour trading volume exceeding $1.62 billion. However, SHIB has dipped 7.03% in the last 24 hours. There are currently 589.27 trillion SHIB coins in circulation, with a maximum supply yet to be determined. SHIB holds the 12th position by market cap. The price reached a high of $0.00002986 and a low of $0.00002647 within the last 24 hours.
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