In a surprising turn of events, September has proven to be a bullish month for Shiba Inu, with the meme coin surging to a three-month high. This positive momentum followed the broader crypto market’s uptick after the Federal Reserve’s 50 basis point interest rate cut. SHIB’s price skyrocketed by 51% over the week, reaching new highs. However, a slight decline today has caused some concern among investors. Despite this, one expert’s analysis has transformed worry into excitement.

Crypto Expert Predicts Shiba Inu to Hit $0.00016

SHIB, the second most popular meme coin, has delivered substantial gains for its holders. The token’s recent performance saw it climb to a three-month peak of $0.00002148. Although there’s been a slight pullback, with the current price at $0.00001964, SHIB maintains a market capitalization of $11,571,705,258 and a trading volume of $1,411,672,336.

Despite the minor dip, SHIB remains in a strong buying zone. The Relative Strength Index (RSI) indicates overbought conditions, which explains today’s price consolidation. Once this sentiment settles, an uptrend may resume, especially if SHIB breaks through the third resistance level at $0.00002172.

Crypto analyst Oscar Ramos believes this is just the beginning for SHIB. Ramos, who accurately predicted SHIB’s 400% surge within ten days during the March rally, now has his sights set on even higher targets. He suggests that after overcoming the $0.00002 resistance, SHIB is poised to reach $0.000045 by the end of 2024.

But Ramos’s predictions don’t stop there. He anticipates a staggering 750% pump that could push SHIB to a new all-time high of $0.00017 or slightly lower by 2025.

Conclusion

Shiba Inu has made an impressive comeback, erasing three months of losses in just one week with its 51% rise. While it’s currently in a consolidation phase due to overbought conditions, the outlook remains positive. Market conditions and technical indicators suggest strong demand for this popular meme coin. With Oscar Ramos’s bullish prediction of a potential $0.00016 price point by 2025, SHIB holders have reason to be optimistic about the token’s future performance.

Disclaimer: This content may contain the personal opinion of the author and is subject to market conditions. Conduct your own market research before investing in cryptocurrencies. The author or the publication bears no responsibility for your personal financial loss.