A notable market analyst presented a realistic view on Shiba Inu potential to claim the dollar bar.
Notably, Shiba Inu (Shib) continuous To consolidate About the price level of $ 0.000016 because the lowering feelings dominate the market. The same part had collapsed at an annual minimum of $ 0.00001160 on February 3 in the middle of a wider market correction but Immediately recovered above $ 0.000016.
Despite the consolidation and downward pressure of the market and the incapacity of SHIB to recover the peak of 2024 of $ 0.000045 in recent times, many investors hope that the token will claim $ 1 in the future. Top Exchange Coinw fueled this optimism in a projection last month.
Shiba Inu at $ 1
However, a recent analysis de Trade City Pro defies this expectation. The analyst explained why such a price objective is not realistic, pointing to market capitalization assessments and global market Trends.
One of the main reasons why the analyst rejects prices prediction at $ 1 is Suba Inu Shibiba token supplycurrently at 589 Billions. The market capitalization, which is a product of the supply in circulation and the current price, is an important metric when determining the potential of an asset.
If Shib claims $ 1, its market capitalization is soaring $ 589 billions of dollars. To put this in perspective, the total market capitalization of gold is only 19 billions of dollars and all the market capitalization of cryptography is now around 3 billions of dollars. Given these numbers, the analyst affirms that such an assessment is impossible.
A report According to the Motley Fool also suggests that a price of $ 1 is impossible for SHIB. Nevertheless, it is important to note that most of the commentators and community figures who believe in the Shiba Inu prediction at $ 1 In fact Expect that the meme’s play reaching this assessment of any time.
Analysis of the weekly graphics of Shiba Inu
Meanwhile, Trade City Pro underlined the current current action of Shiba Inu to present a perspective for its potential movements in the coming weeks. Looking at the Historical Shibse Price Movement, the analyst noted that the token had spent 620 days in a weekly range, with resistance at $ 0.000011,7.
After bursting, he climbed $ 0.00003279 last year before rejecting rejection. The analyst suggested that Shib then retraced the support of 0.00001296 and tried to go back in December 2024 in the middle of a broader trend on the market, but Resistance is strong.
This price action has created an equal high level, which suggests a high potential double scheme on the weekly graph. A double high is a downward training that indicates a trend reversal. However, the analyst stressed that volumes decrease during correction, indicating a positive sign.
He noted that the market will only confirm the upper double structure if Shibs breaks below the support of 0.00001296. If this happens, the price could further drop, with a target of $ 0.00,00067. Shib recently collapsed at 0.0000001160 on February 3, but immediately recovered, now negotiating $ 0.0000,1603.
The analyst’s trading strategy
Especially when These are Investing in SHIB, the analyst revealed that he would never buy the token, whatever the potential benefits. Instead, he says he prefers altcoins at low prices when speculation.
For those who seek to sell, he advises that they leave the market if Shib fell below 0.00001296, at least temporarily. If the feeling of the market moves and an upward trend emerges, traders can consider entering.
Difles: This content is informative and should not be considered financial advice. The opinions expressed in this article may include the author’s personal opinions and do not reflect the basic opinion of cryptography. Readers are encouraged to do in -depth research before making investment decisions. The Crypto Basic is not responsible for financial losses.