#Shiba Inu Rallying to $0.0001: Crypto Expert Reveals Drivers of the Upswing

As interest in and activity around the meme currency has skyrocketed in recent months, the price of Shiba Inu has seen many price surges. Despite the remarkable market activity, SHIB has so far failed to achieve the much sought-after $0.0001 threshold, prompting traders and experts to wonder when it will reach this level.

Crypto expert Micheal EWPro predicted when the price of SHIB may hit the $0.0001 mark. If things continue as they are, he predicts that SHIB will go over $0.0001 in June. Curiously, Elliott Wave Theory is the basis of his price forecast.

The analyst used his understanding of Elliot Wave Theory to show that SHIB has been forming a greater wave number three since October 2023, with smaller waves numbering i, ii, iii, iv, and v. Most of the price activity in a trend often occurs during the third Elliot Wave, which is also the biggest and most powerful wave. Consequently, his research indicates that the first week of June will see the third wave's price finishing at a little over $0.0001.

The analyst did suggest a $0.00008854 take-profit and a $0.00010191 ultimate price objective, but they also pointed out that the bulls still need to do more work before this price point can be achieved.

Shiba Inu: What's in Store for Them?

after the start of the week, Shiba Inu has mostly fluctuated between $0.000030 and $0.0000275, and it has reversed after hitting $0.00004456. Despite this, SHIB supporters and experts are still optimistic, particularly in light of SHIB's debut on an Australian cryptocurrency platform.

Thanks to all the good vibes, #SHIB is now the runner-up in crypto searches. Concurrently, the layer-2 platform Shibarium, developed by Shiba Inu, has seen a TVL surge of $3.9 million, an all-time high.

Trading at $0.00003097 as of this writing, $SHIB has gained 14% in the last seven days.