CryptoSheriff, known for his cryptocurrency analysis, made three different price predictions for Shiba Inu (SHIB).
While Bitcoin’s recent surge creates an optimistic atmosphere in the overall market, SHIB It gained 23% in value during that period and is trading at $0.00001840 as of writing. Crypto expert CryptoSheriff has set three price targets for the popular altcoin. One of the scenarios the analyst focuses on is an ambitious target of 5000 percent.
Can Shiba Inu (SHIB) Hit $0.001?
Crypto Sheriff’s SHIB initial target is $0.00002. The first target of the analyst, who believes that this level is important in the short term, corresponds to an increase of 8% from the current price. Its second target is $0.0002. SHIB needs to grow by 900% to reach this price. Sheriff’s latest price forecast is $0.001. This estimate, which seems high at the moment, implies a 5,000 percent increase from the current price.
Crypto Sheriff isn’t the only one predicting a surprising price for Shiba Inu. Popularity analysts Lookside and Crowe memecoinHe believes it could reach $0.001. Krau believes that the SHIB target can be achieved in the first quarter of 2025. Shiba Inu, which comes with burning (decreasing circulating supply) operations, could explode to the upside with the launch of spot ETFs, which have been on the agenda for some time. But currently, the possibility of reaching $0.001 is almost impossible.
Another factor to consider in Shiba Inu price will be the performance of memecoins. It is possible that the trend of Memecoin will directly affect the price of SHIB. An increase in inflows in this category signals a bullish trend for Shiba Inu. But artificial intelligence (A.I) RWA (real world entities) or D. Pan With various trends such as this unfolding, memecoins remaining in the background could drive SHIB’s price to lower levels.
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.