Confident Targets for Shiba Inu Set by Analyst Abmoon from TradingView
Analyst Abmoon from TradingView remains confident in his previously outlined series of six price targets for Shiba Inu, with an ultimate goal of $0.000165. His latest update came in the wake of a bullish report about Shiba Inu, notably highlighting that Kronos, a leading air purification company, has become the first publicly traded company in the US to support Shiba Inu payments.
Abmoon emphasized this development in his analysis, aiming to bolster positive sentiment amid a persistent slowdown. He noted that Shiba Inu trading remains active, indicating his belief that the targets are still achievable.
Six Price Targets for Shiba Inu
In November 2023, when SHIB was still struggling to reclaim $0.00001, Abmoon outlined his targets. At that time, Shiba Inu’s price fluctuated between a low of $0.00000816 and a high of $0.00000839. Despite the challenges below $0.00001, Abmoon expressed confidence in his six ambitious targets.
He unveiled plans to enter a trade with an entry zone between $0.00000755 and $0.00001018. Notably, the first target, representing a 163% increase from the price at that time, ranged from $0.00002629 to $0.00002825. The second target was set between $0.00003778 and $0.0000399, a 272% return at that time. Additionally, he anticipated a surge towards $0.000065 to $0.00006773, marking a 545% increase. The fourth target stood at $0.0000869 to $0.0000924, a 757% rise.
The fifth target aimed for $0.000124 to $0.00013, while the sixth had a minimum of $0.0001606. Abmoon set $0.000165 as the final price target for his ongoing trade, a 997% rise from the current price. The trade spanned eight months, with some targets already hit and others missed.
SHIB’s Struggle to Achieve These Targets
In early March, SHIB reached $0.000045. Abmoon confirmed this bullish move in an update on March 11. However, he emphasized his plans to hold his trades, believing Shiba Inu has more room for significant gains.
Despite losing both targets due to the ongoing downward trend in the broader crypto market, Abmoon remains confident in a recovery push. Other analysts share this sentiment, with some expecting a rise towards $0.00003 to $0.000045.
Read more Market Analyst Predicts Final Dip for Shiba Inu Before Major Rally
SHIB has now broken the lower Bollinger Band range but hasn’t surpassed this level amid a readjustment. Currently trading at $0.00001508, SHIB is focusing on the 20-day simple moving average of $0.00001715. A slight 13% increase is needed to break through this area. If this occurs, Shiba Inu could then head towards the upper Bollinger range of $0.00001939, aiding in reclaiming $0.00002.
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