Altcoins

Analysts Expect Shiba Inu Coin Price To Surge 40X! Is SHIB Still The Altcoin To Bank?

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Jun 21, 2022

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  The crypto sphere is now inching closer to retrieving its $1 Trillion market capitalization, after a heart-wrenching fall. With cryptocurrencies now portraying greener numbers, a myriad of forecasts, thesis, and exchanges of thoughts have been surfacing in the industry. One altcoin which is back to talks is Shiba Inu’s SHIB. 

The meme coin is now making rounds on the internet for the statements made by the creators. And for the bullish predictions of analysts and marketers. While sections still are optimistic about the future prospects of SHIB price. A certain section of investors have been voicing against the statement made by the creators over the burning of SHIB tokens. 

Is A Bull Run Of Shiba Inu Still Possible?

  A prediction of Shiba Inu made by a crypto-research firm that employs AI has caught sight of the community.  The firm expects SHIB to hit a maximum of $9.61 by the year 2050. Learning from the detailed analysis, SHIB is expected to hit a new ATH by 2025, following the halving of Bitcoin. The analysts expect Shiba Inu to claim a new ATH by 2040. As the canine coin could have lost 50% of its supply to burns. 

While the predictions are overwhelming for any SHIB holder, however, since the $9 target is decades ahead. We cannot really expect things to unfold alike, as the digital asset would undergo “n” number of events along the course of time. In a note-worthy instance, Shytoshi Kusama cited that the bear market opens up the best opportunity for one to buy or burn. 

The statement coming from a known personality from the team has infuriated sections of investors. Who are now criticising the platform for the lack of burn initiatives from their end. Talking of burn events, as of press-time 410,369,970,331,037 SHIB have been burnt from the initial supply. As per Shibburn, the burn rate over the past 24 hours has hit +162.98%, with the count at 220,985,769 SHIB. 

Wrapping up, with the initiatives such as developmental and burn events. The price of the meme coin could eventually rise to greater heights in the higher timeframe. Moreover, SHIB being one of the top holds of the top 100 ETH whales, will further upkeep the price during extreme volatility. 

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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