Shiba Inu price has not made any meaningful gains over the past month, as meme coin traders remain cautious due to uncertainty caused by tariffs and the trade war. However, one top trader has used an Elliott Wave analysis to identify a bullish outlook for SHIB, suggesting that it may be on the verge of a 700% rally to $0.0001. Is this price target realistic? Let’s explore.
What Elliot Wave Analysis Says About Shiba Inu Price
Analyst CaptToblerone used the Elliott Wave analysis to forecast that the Shiba Inu price was on the verge of a major upside move. The meme coin may have completed the corrective phase near the $0.0000055 price level, suggesting that SHIB may have bottomed and it is now prime for an upward recover.
The analyst noted that Shiba Inu is now prime for five waves of recovery, where the price will climb slowly, with a series of higher highs. If the pattern plays out, Shiba Inu price could rally to as high as $0.00014, which is more than ten times its current price.
Shiba Inu Price Chart
CaptToblerone added that the SHIB price had followed the Elliott Wave pattern in the past, suggesting that the rally to $0.00014 will likely happen.
Is $0.0001 a Realistic Target for SHIB Price?
$0.0001 is a realistic target for the Shiba Inu price. At this price, this top meme coin would have a market capitalization of $58.9 billion, which is also a realistic target.
Shiba Inu has been close to attaining this price target in the past. This is because the meme coin’s all-time high stands at $0.000088, attained in 2021. Moreover, several bullish catalysts could make this price rally possible.
One of these catalysts is the SHIB burn rate. If the burn rate can skyrocket, it will remove a significant amount of tokens from the circulating supply. This will help drive the price rally. Additionally, increased activity on the Shibarium layer 2 network will be a catalyst for a positive Shiba Inu price prediction.
Shiba Inu Open Interest Rebounds
The SHIB open interest has rebounded significantly since hitting a record low of $89M last week. At press time, this metric stood at $116M, suggesting that traders are opening new positions on the meme coin, as they bet on a major price move.
Shiba Inu Open Interest
The open interest is rising when the funding rates are positive according to data from Coinglass. This indicates that many traders have opened long positions on Shiba Inu. As more traders bet that the price is going to increase, it highlights a bullish market sentiment.
Therefore, if Shiba Inu follows the path laid out in the Elliott Wave analysis, it is likely that the price will surge to $0.00001. This is a realistic target for SHIB as it will give the meme coin a $58 billion market. The rising open interest also supports this bullish outlook.
Welcome to the US Morning Crypto News Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee to see what experts say about Bitcoin (BTC) amid prevailing market turmoil caused by Trump’s tariffs and broader macroeconomic events. BeInCrypto reported that the status of Bitcoin as a hedge against economic uncertainty is coming under scrutiny. Now this view is becoming increasingly tangled.
Bitcoin Price Closes In On $89,000 While Traditional Markets Slide
On Monday, the S&P 500 and Nasdaq extended their declines, while the US dollar index (DXY) also fell to a 3-year low. The turnout highlighted a divergence in performance between crypto and equities.
S&P500, Nasdaq, and US DXY price performances. Source: TradingView
“Only 6 times since the 1970s have the DXY and SPX fallen together: 70s stagflation, Gulf War, Greenspan hikes, the dot-com crash, 9/11… Buyback window opens Friday for US corporates,” VanEck Head of Digital Assets Research Mathew Sigel commented on X.
The selloff in equities came amid heightened political tension and renewed concerns over the Federal Reserve’s (Fed) independence. President Donald Trump escalated his criticism of Fed chair Jerome Powell.
“Powell’s termination cannot come fast enough!” the President wrote on Truth Social.
The post followed earlier remarks hinting at Powell’s potential removal, an idea reportedly being reviewed by Trump’s economic advisors.
Trump also suggested the economy would slow unless interest rates were cut immediately. The bone of contention between Trump and Powell is that while the president pushes for interest rate cuts, the chair advocates a more cautious stance.
Market reaction was swift:
The Dow Jones Industrial Average plunged 971.82 points (2.48%) to 38,170.41.
Nasdaq Composite fell 2.55% to 15,870.90.
The S&P 500 dropped 2.36% to close at 5,158.20.
The so-called “Magnificent Seven” tech stocks were hit hardest.
Tesla sank 5.8%
Nvidia slid more than 4%
Amazon and Meta both dropped around 3%.
Industrial heavyweight Caterpillar also lost 2.8%.
Meanwhile, Bitcoin is bucking the trend, steadily approaching the $89,000 threshold while traditional markets slide. A decisive move above this level could see the pioneer crypto hit the $90,000 target highlighted in Monday’s US Crypto News briefing.
Historically, Bitcoin’s performance has shown an inverse correlation with the DXY. This prompts speculation that a pivotal moment for the pioneer crypto may be on the horizon.
“The DXY has broken down to March 2022 levels. Bitcoin is back on the move,” highlighted analyst Ben Werkman.
BeInCrypto contacted Geoff Kendrick regarding the Bitcoin price outlook as traditional finance (TradFi) shows weakness. The Head of Digital Asset Research at Standard Chartered said Bitcoin’s resilience signals a shift in how investors perceive the digital asset.
In his opinion, the king of crypto is now increasingly seen as a hedge against risks in TradFi and US Treasuries.
“I think Bitcoin is a hedge against both TradFi and US Treasury risks. The threat to remove US Federal Reserve Chair Jerome Powell falls into Treasury risk—so the hedge is on,” Kendrick told BeInCrypto.
This sentiment aligns with a recent report when US 10-year treasury yields fell below 4%. The incident signaled a potential shift in Fed policy and sparked renewed interest in Bitcoin and other risk assets.
Sentiment is Improving for Crypto, Bitwise Europe Analysts Say
According to the Tuesday Newsletter from Bitwise Europe, the firm’s proprietary Cryptoasset Sentiment Index has flipped to a “slightly bullish” reading.
“At the moment, 8 out of 15 indicators are above their short-term trend. Exchange inflows and the BTC funding rate have both improved since last week,” Bitwise analysts noted.
Bitwise also noted a continued high correlation between Bitcoin and altcoins, which suggests that a surge in Bitcoin’s price could spill over to other tokens. According to the newsletter, around 20% of tracked altcoins outperformed Bitcoin over the past week.
On the TradFi side, Bitwise reported a marginal uptick in Cross Asset Risk Appetite (CARA), which rose from -0.59 to -0.43. CARA is the firm’s proprietary gauge of market sentiment across traditional asset classes.
While the CARA index is still subdued, it points to a modest rebound in risk appetite. This renewed interest aligns with Kendrick’s view that Bitcoin’s number one purpose in a portfolio is to hedge against risks to the existing financial system.
“Bitcoin’s number one purpose in a portfolio is as a hedge against risks to the existing financial system, due to its decentralized ledger, and this can play out via two routes, as private sector risks like the March 2023 SVB collapse and risks associated with the government sector, such as US Treasury risks,” Kendrick told BeInCrypto.
The Standard Chartered analyst said the current threat to the Fed’s independence via Powell’s potential replacement falls squarely into the second of these categories.
“In terms of what is measurable the current threat plays out via US Treasury term premium, which is now at a 12-year high, 10Y term premium,” he added.
As the Bitcoin 2025 conference unfolds in Las Vegas, New York City Mayor Eric Adams has announced that the city will issue Bitcoin-backed financial instruments. Specifically, Adams says he will do everything in his power to launch BitBonds in New York, cementing the city’s place in the global financial renaissance. New York Targets BitBonds To Attract Investors NYC Mayor Eric Adams says the city will be the first to launch Bitcoin-backed municipal bonds for investors. Adams unveiled the plans in a keynote address at the Bitcoin 2025 summit, sharing plans for a wave of financial instruments backed by Bitcoin. Dubbed BitBonds, the NYC mayor says the incoming financial instrument will cater to a growing investor demographic in the city. Adams confirmed that BitBonds will become the go-to financial tool for Bitcoin holders in New York City. HUGE BREAKING: NEW YORK CITY MAYOR SAYS HE WILL BE THE 1st CITY IN… Read More at Coingape.com
Arizona’s Bitcoin Reserve Bill, SB 1373, has successfully passed the House Committee of the Whole. The bill is now set to move forward to the Third Reading and the final floor vote. This significant step brings Arizona closer to establishing a Bitcoin reserve, potentially strengthening the state’s role in the cryptocurrency space. If approved, this bill could have lasting implications for Arizona’s approach to Bitcoin and digital assets.
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Arizona’s Bitcoin Reserve Bill, SB 1373, has successfully passed the House Committee of the Whole. The bill is now set to move forward to the Third Reading and the final floor vote. This significant step brings Arizona closer to establishing a Bitcoin reserve, potentially strengthening the state’s role in the cryptocurrency space. If approved, this …
