Massive Shiba Inu (SHIB) Price Prediction: Is 10x Possible?

TL;DR

Analysts foresee the potential for a massive SHIB rally, driven by numerous factors, including Shibarium’s breakthrough. One market watcher believes the meme coin has a 50/50 chance of outperforming its biggest rival, Dogecoin (DOGE), in this bullish cycle.

New ATH in these conditions

Shiba Inu (SHIB) has had a turbulent year so far. It experienced a big run in March, but erased much of the gains in the following months. It is currently worth about $0.00001765 (according to data from Coingecko), which represents a 68% increase since January 1st.

SHIB Price, Source: CoinGecko

Some analysts think the second largest meme coin has yet to make big waves. Popular X-user Zack Humphries, for example, envisioned a potential 10x bomb from current price levels that would result in a new all-time high.

Such an exponential increase, however, will depend on several factors, the main one being the interest of retail investors.

“I think OG memecoins will make another big run when retail returns to crypto. I think DOGE and SHIB have the luxury of being household brands in the memecoin and crypto world. New retail will first return to chips they’ve heard of,” user X suggested.

The second element is the potential advancement of Shibarium. Zack Humphries stated that the Layer 2 scaling solution helps Shiba Inu’s recording program and “adds utility that could attract more crypto investors this cycle.”

Shibarium, specifically designed to encourage the development of the SHIB ecosystem, was launched in August 2023. A year later, it adopted a combustion mechanism called “Burn Portal”. Their ultimate goal is to reduce the circulating supply of SHIB tokens, thereby increasing their value due to scarcity (assuming demand doesn’t head south).

Finally, user X surmised that the self-proclaimed Dogecoin killer could chart substantial gains in the event of an Ethereum (ETH) resurgence:

“When Ethereum pumps (which I believe will eventually happen), the top ERC-20 crypto will pump harder. This token is SHIB.”

Another bullish prediction

User X Master Kenobi also contributed an optimistic SHIB price forecast. He argued that the creation of the meme currency “involved precise calculations and significant capital, emphasizing that these projects are rare and controlled by people who deeply understand how blockchain technology can grant them financial freedom and preserve value.”

The analyst described SHIB as a “real competitor” to DOGE, maintaining that it has a 50/50 chance of beating it this cycle.

He also suggested that its potential explosion to a $100 billion market cap “doesn’t seem impossible” and that it may enter the top 10 crypto list.

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