Leading cryptocurrency experts are optimistic about the future of Shiba Inu, projecting a significant rally that could push its price to $0.0002 and beyond. Despite the recent decline in value, these experts remain confident in their predictions.
Shiba Inu, like other major cryptocurrencies, experienced a sharp drop in price following the Bitcoin halving. After briefly surging to around $0.00002800, it has since fallen by 19.39% to $0.00002257.
This decline has left many Shiba Inu investors at a loss, with 39% of all SHIB holders currently underwater. However, experts believe that a recovery is on the horizon, and the price could reach $0.0002.
Several market watchers have made similar predictions. The Crypto Basic, referring to a tweet from Shiba Inu’s marketing lead Lucie, suggested that in a bull market, Shiba Inu could soar by 1,126% to $0.0002858. This projection is based on the cryptocurrency’s performance in October 2021, when it surged from $0.000007 to $0.000088.
Changelly, a crypto trading firm, originally forecasted that Shiba Inu could reach $0.00024 by 2031. However, they have since revised their timeline, stating that the target of $0.0002 could be achieved by October 2028.
While some may consider this target unrealistic, Shiba Inu has a history of significant price spikes. In one month, it experienced a surge of 1,126% to reach its previous all-time high of $0.00008845.
Shiba Inu’s ongoing burn campaign, which involves the incineration of large amounts of SHIB tokens, has contributed to its price stability. In the past 24 hours alone, 41.27 million SHIB tokens have been burned, bringing the total burns to 410.72 trillion.
Furthermore, the cryptocurrency has attracted the attention of crypto whales, with 705.91 billion SHIB being withdrawn from exchanges in a single day.
In addition to these factors, Shiba Inu is making progress as a utility project. The development of projects like Shibarium, its Layer-2 blockchain, and the upcoming play-to-earn game Shiba Eternity could play a crucial role in its potential rally to $0.0002.
It is important to note that this article is for informational purposes only and should not be considered financial advice. Readers are advised to conduct thorough research before making any investment decisions.
