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Shiba Inu is currently trading at the $0.000013 price level with four zeroes in the charts. The dog-themed token has been mostly trading sideways this month with little to no price outbursts. The last time SHIB surged in value was in March of this year when it skyrocketed 280% in a month.
The rise followed the Bitcoin halving event that coincided with the launch of the ETF. It’s been six months since the token rallied in the indices, and the development is testing investors’ patience.
Also Read: Shiba Inu: What is SHIB’s Price If Its Market Cap Hits $50 Billion?
However, leading cryptocurrency analyst Krao took to TradingView to share a chart and predicted that Shiba Inu is currently consolidating in price. The analyst forecasted that when the consolidation phase ends, SHIB could head north and delete two zeroes.
Shiba Inu: SHIB Forecasted To Reach $0.001 in Q1 of 2025
The cryptocurrency analyst Krao forecasted that Shiba Inu is on the brink of a breakout in price. The analyst provided a tentative timeline for the target of $0.001 from January to February 2025. That’s another four to five months from today and is considered a short-term holding.
Also Read: Bitcoin Experts Bullish On Shiba Inu’s (SHIB) $0.05 Price Target
An investment of $1,000 made today could turn into $77,000 if the forecast turns out to be accurate from January to February 2025. However, surging 7,600% in the next four to five months seems sketchy considering the global market’s condition. Shiba Inu needs to rise a minimum of 1,500% per month for the next five months.
Also Read: Which Is the Best Meme Coin To Buy Shiba Inu, Dogecoin, or Pepe?
There is no guarantee that SHIB could surge this much in such a short period. The markets are volatile, and both ways of delivering losses to investors are cut.
Doing thorough research before taking an entry position into the token is advised. More than heading north, cryptocurrencies tend to slide south and shed all their previous gains.
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