According to an industry analyst cited by Forbes, there is still potential for a six-fold return on investment in Shiba Inu by 2024. However, the recent price performance of Shiba Inu has been lackluster as it continues to recover from a recent collapse. Currently, Shiba Inu is trading around $0.00001409, showing a 2% increase in the last 24 hours.
It is worth noting that last Monday, SHIB experienced a significant drop to $0.00001087. Since then, the meme coin has made a recovery of 29.62%. Despite this progress, Forbes editors sought expert opinions on the future direction of the SHIB price in a more optimistic market.
Himanshu Maradiya, the chairman of the CIFDAQ Blockchain Ecosystem, believes that Shiba Inu could reach the price region of $0.0001 this year. For investors who buy Shiba Inu at its current value of $0.00001409, this would result in a potential return on investment of around 610%. Maradiya also suggests that Shiba Inu could potentially reach a target of $0.0003 by this year or 2025, which would represent a 20X return or a growth of 2,030%.
Other industry experts share Maradiya’s perspective and believe that Shiba Inu could achieve new all-time highs this year. However, Utkarsh Tiwari, an executive officer at the KoinBX exchange, is less optimistic about Shiba Inu’s performance for the rest of 2024. He predicts that the price could reach $0.000066 by the end of this year, but there is a possibility that it could drop below the five-zero threshold.
Telegaon, a well-known prediction outlet, also shares this sentiment and believes that Shiba Inu may only reach a maximum of $0.0000601 this year. Although Shiba Inu came close to this price level in March when it was valued above $0.000045, it is currently far from that region, with a price of $0.00001409.
On the other hand, analysts at the Changelly exchange have a more conservative outlook and suggest that Shiba Inu may not surpass $0.0000187 this year.
It is important to note that this article is for informational purposes only and should not be considered financial advice. The views expressed in this article are the author’s personal opinions and do not reflect the opinions of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions, and The Crypto Basic is not responsible for any financial losses incurred.