The Shiba Inu price has recorded a significant decline today as the broader crypto market retreated amid investors’ holiday mood. However, despite the recent dip, traders remained optimistic about the long-term trajectory of SHIB, indicating strong confidence in the crypto. Amid this, a top market expert hints at a potential rally for the dog-themed meme coin to $0.00008 in the coming days.
Shiba Inu Price To Hit $0.00008?
The crypto market retreated today with Bitcoin and top altcoins taking the biggest hits. In addition, the top meme coins also traded in the red, sparking concerns among investors over what lies ahead for the digital assets space.
However, despite the recent pullback, the market optimism remained high for Shiba Inu price ahead. In a recent analysis, top crypto market expert JAVON MARKS said that a bullish signal has appeared on the recent price chart of SHIB, sparking market optimism. In addition, the expert said that the crypto is poised to rally to $0.000081 ahead, adding that “A more than 3.33X in an over 234% climb for Shiba is in the cards.”
Source: JAVON MARKS, X
This analysis has fueled discussions in the broader market about whether the top dog-themed meme coin could witness a strong recovery ahead. On the other hand, the recent market trends and positive developments of SHIB also indicate a potential rally ahead for crypto.
On the other hand, another market expert InvestingHaven has shared a SHIB price outlook for 2025. In a recent X post, the expert said that the crypto could hit $0.0000998 in 2025 if the bullish momentum holds. At the same time, he also warned that the crypto could end the year at $0.0000234 if the bearish pressure remains.
Source: InvestingHaven, X
SHIB Recovery Ahead?
The latest SHIB price chart showed that the crypto was down over 6% and exchanged hands at $0.00002167, with its trading volume falling 32% to $518.5 million. Over the last 24 hours, the crypto has touched a high and low of $0.00002314 and $0.00002146, respectively, indicating the volatile scenario in the market. Furthermore, SHIB Futures Open Interest plunged 10% today, reflecting the gloomy sentiment hovering in the market.
However, despite the dip, the recent market trends hint at a potential recovery ahead for Shiba Inu price. For context, SHIB lead Shytoshi Kusama has recently lauded the SHIB: The Metaverse launch, while hinting at more “TREATS” for the community soon. This has fueled speculations over the potential developments of the ecosystem ahead.
In addition, the recent Shiba Inu burn rate soared 160% with 18.97 million tokens burnt from the supply, Shibburn data showed. This also indicates a bullish road ahead, as the decline in supply often helps in pushing the prices higher. Having said that, the recent burning spree of the meme coin could boost the SHIB prices higher. Besides, positive on-chain indicators for SHIB also suggest that the crypto could target the $0.000045 level ahead.
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