Crypto analyst Eljaboom provided insight on how to do this Shiba Inu (SHIB) he could rise this running of the bulls. The analyst referenced history to show that the second-largest meme coin by market capitalization can still achieve unprecedented heights.
Shiba Inu made $0.00024 in this bull run
Eljaboom suggested on X (formerly Twitter) post that Shiba Inu will enhance by over 1000% to reach $0.00024 in this bull market. This followed his remarks that history was repeating itself SIS. The attached chart he shared showed that the analyst expected Shiba Inu to experience a similar price enhance as was the case in 2021although this time much higher.
Crypto analyst Emily seemed to agree with Eljaboom’s predictions, stating that anyone who has lost faith in the Shiba Inu is “ignorant”. Meanwhile, Eljaboom’s predictions coincide with those of other cryptocurrency analysts who predict that Shiba Inu will lose another zero and rise to $0.0001. One of them is Javon Marks, who predicts that SHIB will eventually enhance to $0.0001553.
Cryptocurrency analyst, Captain Toblerone common a similar prediction to Eljaboom’s when using Elliot Wave Theory to analyze the Shiba Inu chart. The chart showed that SHIB will enhance to $0.00022 when wave 3 of the five-way sequence occurs. Interestingly, the analyst suggested that an enhance in Shiba Inu prices to this level may occur as early as September this year.
Meanwhile, other cryptocurrency analysts such as Armando Pantajo have provided more bullish price predictions for SHIB in this bull market. Pantajo predicted that the Shiba Inu will lose two zeros and enhance to $0.001. Cryptocurrency analyst Ali Martinez went a step further and predicted that a Shiba Inu could drop three zeros and go up to $0.011.
Factors that may cause an unprecedented enhance in Shiba Inu prices
Several factors may contribute to the Shiba Inu’s parabolic rise to this height. One of them is the institutional adoption of the meme coin. The Shiba community is actively working to achieve this goal by submitting petitions Grey scale consider running a SIB ETF. Interestingly, this petition gathered over 10,000 signatures, highlighting the community’s commitment to the cause.
The potential launch of the Shiba Inu ETF would inject fresh money into the meme coin ecosystem, which could trigger a parabolic price rally. Recent money is also expected to flow into the SHIB ecosystem once the team finally launches its proposed solution privacy-oriented Layer 3 network. More users are expected to join the Shiba Inu ecosystem to enjoy such usability.
Meanwhile, Shibarium layer 2 network undoubtedly still has a significant role to play in the development of SHIB. The network has already committed to using some of the network fees it earns The Shiba Inu token is on fire. As such, you can expect Shibarium to conduct massive token burns again as daily transactions on the network enhance.
Featured image created with Dall.E, chart from Tradingview.com
