Shiba Inu (SHIB) has shown signs of recovery since its recent slump, but the meme coin is still grappling to regain its former glory. While the cryptocurrency has managed a 29.62% increase from its lowest point last week, it currently trades at $0.00001409, a far cry from its previous highs.
However, industry experts are divided on Shiba Inu’s potential for the remainder of 2024. Some analysts are incredibly bullish, predicting significant price increases, while others maintain a more cautious outlook.
Himanshu Maradiya, Chairman of the CIFDAQ Blockchain Ecosystem, is among the optimists. He forecasts a Shiba Inu price of $0.0001 by the end of the year, representing a staggering 610% return on investment for current holders. Maradiya is even more bullish for the long term, suggesting a potential price target of $0.0003 by 2025. Such a price would equate to a 20-fold increase, or a 2,030% return.
While Maradiya’s prediction is undoubtedly ambitious, other experts offer more tempered forecasts. Utkarsh Tiwari, an executive officer at KoinBX exchange, suggests a Shiba Inu price of $0.000066 by year-end, but warns of potential downward pressure. Telegaon, a well-known prediction outlet, shares a similar outlook, with a maximum price target of $0.0000601.
On the more conservative end of the spectrum, Changelly exchange analysts believe Shiba Inu may struggle to surpass $0.0000187 in 2024.
Also Read: Shiba Inu Rallies 11%, Igniting Hopes for 100% August Surge – Is This the Start of a Doubling Rally?
It’s important to note that these are predictions, and the cryptocurrency market is highly volatile. Past performance is not indicative of future results. Investors should conduct their own research and consider consulting with a financial advisor before making any investment decisions.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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