As a seasoned crypto investor with a keen interest in Shiba Inu, I’ve seen the ups and downs of this meme coin over the past few years. The latest Forbes report suggesting that Shiba Inu could reach new all-time highs is an intriguing development, but I remain cautiously optimistic.
Among analysts, there’s ongoing debate regarding the Shiba Inu price trajectory and whether it will face obstacles or continue to thrive. Some predict a prolonged struggle for the meme coin, while others envision a resumption of its rally leading to fresh all-time highs. A recent Forbes analysis aligns with this optimistic viewpoint, anticipating a substantial price increase towards new record levels.
Shiba Inu Price To Reach New ATH
In the Forbes analysis, Shiba Inu token is highlighted for its advancements and expanding practical uses, propelling it into the top 13 cryptocurrencies. Yet, the coin’s price has faced challenges over the past few years, falling short of recapturing its peak value of $0.00008 despite bitcoin hitting new record prices.
As a crypto investor, I’ve been following the Shiba Inu trend closely by examining various reports and predictions over the years. One intriguing forecast comes from Utkarsh Tiwari, the chief strategy officer at KoinBX. According to his analysis, SHIB could experience a significant price surge of more than 100% from its current value, potentially reaching above $0.00003. Tiwari anticipates that this bullish move might occur around the closing stages of 2024 for the meme coin.
For Forbes, a more modest estimation for Shiba Inu’s meme coin value ranges between $0.0001 and $0.0003. This estimate diverges from Tiwari’s projection of $0.000396 for 2024, offering a significant gap from the present SHIB price of $0.000016.
Looking ahead, Tiwari’s projection indicates that the Shiba Inu coin could potentially reach a value of $0.0000456 by 2025 under ideal market circumstances. However, considering the impact of technological innovations and regulatory changes, the estimated price for the same year rises to as much as $0.00007488.
SHIB Sees Dwindling Pressure
Despite the heightened anticipation surrounding the Shiba Inu token and its price, the meme currency has experienced difficulties in the market recently. Sell-offs within the market have caused a dip in its value over the past week, bringing it close to the significant support level at $0.000016. Though this level held firm, it underscores the intensity of the selling pressure from the bears.
Regarding volume, SHIB‘s token has experienced a setback, with CoinMarketCap indicating a 22% decrease in the past 24 hours. Yet, this potential downturn might be advantageous for the meme coin. The selling pressure could be waning, potentially leading to another price surge.
Currently, the cost of Shiba Inu tokens remains above $0.000016 due to the persistent strength of bulls in the market. The recent inflation data reporting a surprise decrease of 3% has added a slight push to their efforts.
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2024-07-11 23:10