Shiba Inu reaches critical point in its campaign for $0.00028

Shiba Inu continues to face difficulties in the market, especially as Bitcoin continues to show moderate price movements ahead of the halving. This market-wide bearish trend continues to keep cryptocurrency prices low. However, in the long term, the outlook for coins like Shiba Inu remains incredibly optimistic, according to analysts.

Crypto Analyst Claims Shiba Inu Is Now In Third Macro Wave

Crypto analyst Crypto Cipher took to X (formerly Twitter) to share his latest Shiba Inu analysis with the community. Cipher first caught the attention of the SHIB community with its May 2023 analysis, which revealed an accumulation phase for the meme coin, which was followed soon after by rallies.

This time, the crypto analyst points out the bottom of the current trend and explains that macro wave 3 is already in motion for the altcoin. This occurs after the conclusion of the first and second waves, which will occur between the end of 2023 and the beginning of 2024.

At this intersection, the Shiba Inu price is more bearish than bullish, as the analyst chart shows a possible decline from its current price. This would put the price of SHIB at $0.000015 before the price could recover again.

However, if SHIB price manages to maintain this level, the price could bounce towards the fourth macro wave. “To continue, it must contain Gray Box,” Crypto Cipher stated in the post.

Possible prices for SHIB

The latest macro waves noted by the crypto analyst in the post are the fourth and fifth waves, and both should be even more bullish than the previous one. For example, the fourth wave that is expected to begin if the $0.000015 level holds has an upper limit of $0.0001. This means that from the lows there will be an increase of almost 500%. Although from the current 509 at the time of writing this article, it would be a 3x increase.

After the fourth wave, another correction is expected, where the SHIB price could fall by up to 50%. However, once the correction ends and the fifth wave continues, the upper limit will be placed at $0.00028, where the analyst expects the wave to end. At this upper limit, investors could expect a 1,000% price increase.

As for the timeline for this, it is expected to happen over a long period of time, according to the chart. The fourth wave is expected to begin no earlier than mid-2024, while the fifth wave is scheduled for 2025, concluding mid-year.