Bitcoin analysts Jason Williams and Yazan have put forward a bold prediction for Shiba Inu, setting a target of $0.05 for the cryptocurrency in the current bull market. In separate social media posts, both Williams and Yazan have expressed their belief that Shiba Inu could reach this price level. Their prediction forms part of a broader outlook for various leading cryptocurrencies, including Bitcoin, Ethereum, and XRP.
Yazan’s argument is based on the assumption that if Bitcoin were to reach $777,000 this season, Shiba Inu would also hit the $0.05 mark. On the other hand, Williams has proposed that if Bitcoin were to reach $250,000, Shiba Inu could achieve the same target.
Currently, Shiba Inu is trading at $0.0000249, with four leading zeros. According to the Bitcoin analysts, the expectation is for Shiba Inu to eliminate three more zeros by 2025. This means that the dog-themed token would need to rally by a staggering 200,703% within the next year in order to reach their target.
While there is optimism surrounding Shiba Inu’s potential, given its impressive 884,400% surge after the Bitcoin halving in 2020, analysts have a more conservative outlook. Analyst Dona, known for accurate Dogecoin predictions, believes that Shiba Inu’s price will not exceed $0.000114 in this bull season. Similarly, analysts Eunice Wong and Bunchhieng have targeted $0.0001 for Shiba Inu in the near future, based on the cryptocurrency’s history.
Prediction platform Telegaon has proposed a date of 2040 for Shiba Inu to reach $0.05, which is sixteen years away. However, experts at Changelly do not believe that Shiba Inu will ever attain this price level. They have suggested that the cryptocurrency’s potential highest value by 2050 would be $0.033.
It is important to note that the projection of Shiba Inu reaching $0.05 this season is an isolated prediction and does not guarantee its realization. If Shiba Inu were to reach this price, its market capitalization would soar to $29 trillion, far surpassing Bitcoin’s current market cap of $1.3 trillion. Even if Bitcoin were to reach $500,000 by next year, its market cap would still fall short of $29 trillion.
It is essential for readers to understand that this content is for informational purposes only and should not be considered as financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions, and The Crypto Basic is not liable for any financial losses incurred.