Shiba Inu (SHIB) finds itself in the spotlight once again. Despite market challenges, top trader Dexter predicts that the meme coin could soar to a long-term target of $0.00015. This bold prediction comes as SHIB hovers at $0.00001343, advancing by only 1.27% in the last 24 hours. While the overall crypto market is experiencing a strong uptrend, Shiba Inu has yet to capitalize on the momentum fully.
SHIB’s price saw a dip into the $0.000012 range earlier this week before making a modest recovery. On a weekly and monthly scale, however, the token’s price trajectory remains unimpressive. More bearish days than bullish ones paint a lackluster picture, with retail investors reportedly fleeing SHIB for better-performing meme coins like PEPE and Dogelon Mars.
Yet, Dexter, a notable figure in the cryptocurrency community, remains optimistic. In his recent analysis on TradingView, he suggested that SHIB could cancel another leading zero, pushing it to new heights in the months ahead. Despite its current struggles, Shiba Inu’s longevity sets it apart from other meme coins that have fallen into obscurity. With a market cap exceeding $7.78 billion, SHIB maintains a firm foothold in the crypto space.
Shiba Inu’s Key Support and Resistance Levels
Dexter acknowledged Shiba Inu’s ongoing downtrend, noting that the token is approaching a critical support zone between $0.00001076 and $0.0000120. According to him, maintaining this support is essential for SHIB to regain its momentum. If it fails to hold, the price could drop to $0.000007, a level not seen since the final quarter of 2023. A plunge to this support would mark a 47% decline from its current value, furthering the slide from its yearly high of $0.000045 in March.
Even worse, Dexter outlined a second accumulation range for SHIB, predicting a potential dip to between $0.0000056 and $0.0000071 if the bearish trend continues. For context, a drop to these levels could trigger widespread panic, but it might also present an opportunity for long-term holders to accumulate more.
On a more positive note, Dexter identified a bullish price range of $0.000089 to $0.00015 as a long-term target for Shiba Inu. Even the lower end of this range would exceed SHIB’s all-time high, set during the meme coin boom. If achieved, this could signal a new era for Shiba Inu, potentially attracting both retail and institutional investors back into the fold.
Dexter’s insights carry weight in the crypto world, but he is quick to remind his audience that these predictions are for educational purposes only, not financial advice. Whether SHIB will rise or fall remains uncertain, but its story is far from over. As market conditions evolve, so too will the fate of this iconic meme coin.
At the moment, Shiba Inu is priced at $0.00001343, reflecting a 1.27% increase over the past 24 hours. Its market capitalization stands at $7.78 billion. Earlier this year, in March 2023, SHIB reached its highest value at $0.000045. Currently, key support levels for the token range between $0.00001076 and $0.0000120. If bearish trends prevail, the price could drop to $0.000007, but on the bullish side, projections suggest it could climb as high as $0.000089 to $0.00015.
