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Shiba Inu: 420 Billion SHIB Mystery Transfer Aids $0.00001 Target

Joshua Ramos
Joshua Ramos
January 23, 2024
With Shiba Inu (SHIB) recently erasing one zero from its price, a top market analyst has uncovered the key target and support levels to watch out for going forward. Shiba Inu price erased one zero to trade at a 24-hour high of $0.00001462. Though the token had shown signs of an imminent rally for weeks, the current market momentum pushed its price to the highest level in more than 52 weeks. Judging by the current outlook, market analyst SHIB KNIGHT affirmed that Shiba Inu has surpassed all of his previous targets. To showcase the confidence in the current uptrend, SHIB KNIGHT dropped new targets and support levels to watch. Shiba Inu to $0.00001668? Per an accompanying price chart, the 3 targets and support levels unveiled are relatively bullish, as none of the latter targets shows a slump below the $0.00001 level. According to $SHIB KNIGHT, the current momentum might push Shiba Inu to $0.00001466, a price point that will slightly outpace the 52-week high. On a more promising basis, the analyst foresees SHIB soaring to $0.00001545, a level that is about 9.886% from the current level. SHIB KNIGHT is also optimistic Shiba Inu could rally as high as $0.00001668 and even beyond, per earlier projections. Though the potential timeline to achieve this feat was not highlighted, the projections have set the community on edge with pent-up anticipation of what to watch out for. Cautionary SHIB Note Amid the bullish targets, SHIB KNIGHT left room for unforeseen circumstances that might trigger a reversal in Shiba Inu’s uptrend. At the time of writing, Shiba Inu has maintained a 24-hour growth of 13.06%, taking its price and market cap to $0.00001409 and $8,285,705,642 respectively. Exactly $2,271,151,442 SHIB has been traded within the same time span. There are no guarantees that the market would not record a correction. Riding on this, SHIB KNIGHT pegged the first support level at $0.00001343 with a subsequent target of $0.00001306 if the selloffs persist. To cap his bullish disposition, the analyst believes the support zone at $0.00001258 is a formidable one for SHIB, a point at which another trend reversal might be recorded.

In a surprising development for the Shiba Inu ecosystem, a 420 billion SHIB mystery transfer may well be adding to the assets target of $0.00001 price. Indeed, Etherscan reports the massive transaction was worth an astronomical $3.87 million. Additionally, the transfer is making waves due to its mysterious nature.

Furthermore, the intrigue has increased by the revelation that the sender’s address is associated with Coinbase Prime Custody. Subsequently, it signals that the transfer of assets may well have institutional connections. Yet, the big question is what this movement means for the asset’s price overall.

Shiba Inu: Analyst Provides Ambitious Price Target For SHIB

Also Read: Shiba Inu [SHIB] Weekly Price Prediction

Mystery SHIB Transfer Worth $3.87 Million Could Help Price Target a Zero

Throughout the year thus far, the digital asset market has been mauled by volatility. Subsequently, the meme coin market has been equally affected by such movements. Still, there remains a lot of optimism connected to one of the most popular meme coins available and one that could be reinforced by recent large-scale asset movements taking place.

Indeed, Shiba Inu has observed a 420 billion SHIB mystery transfer that could have positive implications on the overall price of the asset. Specifically, it could play a role in propelling it to the $0.00001 mark. Subsequently, taking out a coveted zero from the assets price.

Shiba Inu

Also Read: Shiba Inu: How Much Will $1000 in SHIB Today Be Worth in 2030?

There remains a lot of intrigue surrounding the transfer worth more than $3 million. Moreover, the asset is currently trading at $ 0.0000089 and down more than 4% over the last 24 hours, according to CoinMarketCap. Additionally, that adds to a more than 20% drop from its price just a month ago.

As the asset seeks to break through to the $0.00001 level, the mysterious transition is driving a lot of intrigue. Subsequently, the movement could be a small hint that significant price fluctuations are ahead. Moreover, the interest in the meme coin remains, more so fueling the overall anticipation. If a positive movement is in store, only time will tell.

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