Shiba Inu price prediction: If the Dogecoin killer ‘overcomes indecision,’ the value of SHIB will double.
SHIBA INU is one of the newest cryptocurrencies to reach the market, and it has been dubbed the “Dogecoin killer” by some analysts. If it continues on its current path, the coin’s value might double.
According to some analysts, the value of the Shiba Inu could treble in the near future as the cryptocurrency market recovers from its recent meltdown. “Despite over two weeks of stabilization, SHIB has overcome indecision, working in favor of the bulls after gaining over 55 percent in market value from the bottom,” according to FX Street. SHIB has experienced tremendous market growth in recent months, because to Elon Musk’s performance on Saturday Night Live (SNL), during which he slammed Dogecoin as “a hustle.” As a result of the Tesla and Space X CEO’s remark, Dogecoin’s value plummeted by 30%, benefiting SHIB.
Binance added Shiba Inu currency on its trading platform two days following Mr Musk’s speech, and the price skyrocketed.
Though the future of Shiba Inu is uncertain, analysts are optimistic about the token’s prospects.
Some observers predict that SHIB will eventually hit $1, though it is unclear when this will happen and it is unlikely to happen soon.
“If accelerating interest is confirmed,” FX Street says, “an adjacent parallel channel might be drawn to identify the likely price goal for SHIB.”
While many people dismissed the “memefication” of money as a fad, Lucy Gazmararian, founder and managing partner of Token Bay Capital, believes that the underlying dynamics at work could be enough to revolutionize banking.
“We are witnessing groups of anonymous individuals experiment with the democratisation of money itself today with the advent of cryptocurrencies, and the SHIB token symbolizes this new trend,” she said.
“As long as participants in a growing ecosystem are connected by a common purpose and vision, and are incentivised to keep building out the network, the network will become increasingly valuable, and this will be reflected in the price of the Shiba token,” says the author.
In terms of SHIB’s future prospects, it appears to be a mixed bag.
According to Wallet Investor, the price of SHIB is expected to hit $0.000030 by June 2021, with the possibility of rising to $0.000048 by the end of the year.
SHIB is expected to reach $0.000025 by the end of June 2021, according to Gov.Capital.
According to some forecasts, the self-proclaimed Doge killer is anticipated to hit $0.000085 before the end of the year. “Brinkwire News in Condensed Form.”