Veteran Bitcoin Analyst Projects $0.00006 as Next Target for Shiba Inu

Davinci Jeremie, a Bitcoin advocate for over a decade, boldly asserts that Shiba Inu is on track to hit $0.00006 amid the recent upsurge.

After much anticipation, Shiba Inu bulls finally proclaim their presence, driving SHIB close to cracking the $0.00003 channel. Market data shows SHIB reached a new daily peak at $0.00002933, following an 18.51% increase from the initial low of 0.00002475.

It is worth noting that Shiba Inu last traded the $0.000029 level approximately eight weeks ago before it plummeted to the April 13 low of $0.00001853. 

Since then, Shiba Inu has faced challenges, with only minimal gains observed until the recent surge. At the time of reporting, Shiba Inu continues to preserve most of the acquired gains, with its value at $0.00002792.

$0.00006 is Next Target for Shiba Inu

Amid this commendable performance, renowned Bitcoin pundit Davinci Jeremie took to X to remark on Shiba Inu. Jeremie emphasized that it is time to “make some money” with SHIB. In parallel, he issued his projected outlook for the asset as the bullish phase finally recommenced.

Want to know my Shiba market projection? 📈🚀This bull run is looking hot! 🔥

Shiba’s rising, let’s make some money 💸💎 pic.twitter.com/uJJZPKpuVB

— Davinci Jeremie (@Davincij15) May 28, 2024

Jeremie first reflected on his previous admonitions to crypto market participants to accumulate SHIB tokens during the bearish period following the initial pump of early March. He noted that a breakout is expected after the downturn, with initial targets between $0.000025 and $0.00003.

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Moreover, Jeremie noted he himself added to his Shiba Inu portfolio during the low prices. Now that his initial projections have materialized, the Bitcoin pundit is confident that SHIB is headed for $0.00006.

At Shiba Inu’s present value, achieving $0.00006 demands only a surge of 114%. Recall that SHIB soared by over 370% in eight days in the first bullish phase that ended in early March.

Notably, Shiba Inu last traded around the $0.00006 threshold at the peak of the 2021 bull run frenzy. Attaining the price point would place SHIB just 32% below its $0.00008845 all-time high.

Other Analysts Agree

Meanwhile, Jeremie’s ambitious target for Shiba Inu is not isolated. Many other market observers, including Davie Satoshi, Javon Marks, and Eunice Wong, have proposed a comparable price target in their independent analyses. Notably, Wong believes SHIB would cancel another zero during this emerging phase.