---

Crypto
analyst
Eljaboom
has
provided
insights
into
how

Shiba
Inu
(SHIB)

could
rise
in

this
bull
run.
The
analyst
alluded
to
history
to
show
that
the
second-largest
meme
coin
by
market
cap
can
still
reach

unprecedented
heights.  

Shiba
Inu
To
Reach
$0.00024
In
This
Bull
Run

Eljaboom
suggested
in
an
X
(formerly
Twitter)

post

that
Shiba
Inu
will
rally
by
over
1,000%
to
reach
$0.00024
in
this
bull
run.
This
came
following
his
remarks
that
history
was
repeating
itself
for

SHIB.
The
accompanying
chart
he
shared
showed
that
the
analyst
was
expecting
Shiba
Inu
to
experience
a
similar
price
surge

as
it
did
in
2021,
although
way
higher
this
time
around.

Related
Reading

Crypto
analyst
Crypto
Emily
seemed
to
agree
with
Eljaboom’s
prediction,

stating

that
anyone
who
has
lost
faith
in
Shiba
Inu
is
“clueless.”
Meanwhile,
Eljaboom’s
prediction
aligns
with
other
crypto
analysts
who
predict
that
Shiba
Inu
will
shed
another
zero
and
rise
to
$0.0001.
One
is
Javon
Marks,
who

predicts

that
SHIB
will
eventually
rise
to
$0.0001553. 

Crypto
analyst
Capt
Toblerone

shared

a
similar
prediction
to
Eljaboom’s
own
while
using
the
Elliot
Wave
Theory
to
analyze
Shiba
Inu’s
chart.
The
chart
showed
that
SHIB
will
rise
to
$0.00022
when
wave
3
of
the
five-way
sequence
occurs.
Interestingly,
the
analyst
suggested
that
Shiba
Inu’s
rise
to
this
price
level
could
happen
by
September
this
year. 

Meanwhile,
other
crypto
analysts,
like
Armando
Pantajo,
have
made
more
bullish
price
predictions
for
SHIB
in
this
bull
run.
Pantajo

predicted

that
Shiba
Inu
would
shed
two
zeros
and
rise
to
$0.001.
Crypto
analyst
Ali
Martinez
went
one
further
and

predicted

that
Shiba
Inu
could
shed
three
zeros
and
rise
to
$0.011.

Factors
That
Can
Spark
Shiba
Inu’s
Unprecedented
Price
Surge

Several
factors
could
contribute
to
Shiba
Inu’s
parabolic
rise
to
such
heights.
One
is
the
institutional
adoption
of
the
meme
coin.
The

Shib
community

has
been
actively
working
towards
achieving
this
by
petitioning

Grayscale

to
consider
launching
a

SHIB
ETF.
Interestingly,
this
petition
has
gained
over
10,000
signatures,
highlighting
the
community’s
dedication
to
the
cause. 

Related
Reading

The
potential
launch
of
a
Shiba
Inu
ETF
would
bring
new
money
into
the
meme
coin’s
ecosystem,
which
could
trigger
this
parabolic
price
surge.
New
money
is
also
expected
to
flow
into
the
SHIB
ecosystem
when
the
team
finally
launches
the
proposed

privacy-focused
layer-3
network.
More
users
are
expected
to
troop
into
the
Shiba
Inu
ecosystem
to
enjoy
such
utility.

Meanwhile,

layer-2
network
Shibarium

undoubtedly
still
has
a
significant
role
to
play
in
SHIB’s
growth.
The
network
has
already
committed
to
using
some
of
the
network
fees
earned
for

Shiba
Inu
token
burns.
As
such,
Shibarium
can
be
expected
to
carry
out
massive
token
burns
again
once
daily
transactions
on
the
network
pick
up. 

Featured
image
created
with
Dall.E,
chart
from
Tradingview.com

Go to Source
Author: Scott Matherson

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