Interesting times are ahead for Shiba Inu with triple-digit profit potential for investors, according to a leading cryptocurrency analyst. The prediction comes when Bitcoin is skyrocketing in the charts after touching a new all-time high of $122,838 on Monday. The bullishness has spilled over to other leading altcoins including Ripple’s XRP, Cardano’s ADA, Solana’s SOL, and VeChain’s VET. Even SHIB is benefiting from the upward trajectory and is eyeing a triple-digit rise.

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Shiba Inu Could Surge 500%, Reach $0.00008

Leading cryptocurrency analyst Javon Marks shared a chart analysis indicating that Shiba Inu could break out in price soon. He projected that SHIB has an upside potential of 500% with a new price target of $0.00008. That’s close to its all-time high of $0.00008616, which it reached in October 2021.

If SHIB reaches the target, it would come close to its ATH after nearly a four-year hiatus. Therefore, an investment of $1,000 could turn into $6,000 if the forecast turns out to be accurate. That’s phenomenal profits as very few financial assets generate triple-digit returns to investors in a short period.

Also Read: Shiba Inu Rallies 19%: Can It Hit $0.00002 This Week?

“SHIB (Shiba Inu)’s breakout target at $0.000081 is being maintained. We project a more than 500% upside to reach it in response to the pictured resisting trend break!” he predicted.

This puts Shiba Inu in the must-watch category as the prediction outweighs the risks. The dog-themed token has mostly remained sideways in the last six months with little to no price action. The forecast comes as a ray of hope that SHIB could kick-start a rally and come out of its slumber.

However, the market rarely goes in a single direction and its usual route is up and down. The chances of surging 500% in a straight line remain slim and could occur over time. It is advised to do thorough research before taking an entry position in the SHIB token.