- The hype surrounding SHIB led experts to explore the theory that the meme coin could make traders millionaires.
- For this to happen, SHIB’s price will have to rally by 900+%.
- Over the past 24 hours, SHIB’s price dropped by more than 4%, which left it trading hands at $0.000009259.
The recent hype surrounding Shiba Inu (SHIB) had many cryptocurrency experts exploring the theory that the meme coin could make traders millionaires, according to a Twitter post shared by influencer Keyur Rohit earlier today. These theories were mostly fueled by the fact that SHIB’s price surged by more than 16% over the past three days alone.
The hype surrounding the Shibarium launch was certainly also a contributing factor. Taking all of this into account, Rohit shared in his post that experts predict that SHIB could have a very ambitious target of $0.0001 in its sights.
It is, however, important to keep in mind that SHIB still has a lot of work to do to reach the $0.001 target as its price will have to rally by an estimated 952%. Even if the meme coin can accomplish this feat, Rohit revealed in his post that traders will need at least 10 billion SHIB to become millionaires. This will cost about $95K at SHIB’s latest price.
Meanwhile, CoinMarketCap indicated that SHIB’s price slipped by more than 4% over the past 24 hours of trading, which left it trading hands at $0.000009259. On the other hand, SHIB was still up by more than 10% over the past week.
From a technical perspective, SHIB was resting on the crucial support level at $0.00000915 at press time. If it closes today’s daily candle below this price point, then it may be at risk of testing the next support level at $0.00000819 in the coming week. Continued sell pressure may also push the meme coin’s price down to $0.00000757.
On the other hand, if SHIB’s price is able to close the next 2 daily candles above $0.00000915, then it will most likely attempt another challenge at the key resistance level at $0.00001075. A break above this mark will clear a path for SHIB’s price to rise to $0.00001185 in the following 48 hours.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
