Shiba Inu (SHIB) has garnered significant attention in the crypto community for its potential to make substantial price movements.
Himanshu Maradiya, the Chairman of CIFDAQ Blockchain Ecosystem, has made a bold prediction, suggesting that SHIB could reach the $0.0001 level in 2024.
This ambitious target represents a 696% increase from its current price of $0.00001436, attracting the interest of investors and enthusiasts alike.
Shiba Inu Ready to Surge
Maradiya’s optimism doesn’t stop there. He believes SHIB could deliver even greater gains, projecting a peak target of $0.0003 by the end of this year or at the latest in 2025.
Cryptopolitan reported that this prediction comes at a time when Shiba Inu’s price is in recovery mode following a recent dip. Despite lackluster performance, Shiba Inu’s price has increased by 2.49% over the past 24 hours.
This rise offers hope to investors who witnessed the token’s price drop to $0.00001087 just this past Monday.
Since then, SHIB has rebounded by nearly 30%, reflecting a broader recovery in the crypto market following last weekend’s massive sell-off, which saw Bitcoin drop below $50,000 and Ethereum fall below $2,500.
As Shiba Inu continues to recover, experts have differing opinions on the token’s future. Some, like Maradiya, remain optimistic, suggesting that Shiba Inu’s retracement towards key moving averages (MA) indicates that the bulls are attempting a comeback.
Data from TradingView supports this view, showing that if SHIB can break through and close above these MAs, it could pave the way for a rally toward the $0.000020 level. This move would be a strong signal that the market has rejected lower levels and is ready to climb higher.
However, not all experts share this optimism. Utkarsh Tiwari, an executive at the KoinBX exchange, offers a more cautious perspective.
In an interview with Forbes, Tiwari stated that while widespread bullish sentiment could push Shiba Inu to $0.000066 by year-end, the token could also face significant bearish pressure.
He warned that this bearish momentum might cause Shiba Inu to fall below the critical five-zero threshold, a sentiment echoed by the popular prediction platform Telegaon.
Their analysts believe that the token might only reach a high of $0.0000601 in 2024, highlighting that Shiba Inu nearly reached this price in March, only to drop by 32% since then.
Adding to the differing views, analysts at Changelly Exchange have lowered expectations even further.
They predict that Shiba Inu may struggle to surpass the $0.0000187 level this year, reflecting a more conservative outlook on the token’s price movement.
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