Investors in Shiba Inu (SHIB) are experiencing a significant reality check as cryptocurrency analysts provide a more reserved and pessimistic forecast for the meme coin’s price. While analysts still believe in Shiba Inu’s long-term bullish prospects, they advise investors to adjust their expectations, cautioning that a significant price increase is unlikely in the near future.
The Era of Rapid Price Surges for Shiba Inu Has Ended
In a recent YouTube video, crypto analyst Zach Humphries provided Shiba Inu investors with a sobering update regarding the price forecast for the meme coin. Humphries made it clear that his intent was to inform and enlighten all Shiba Inu investors, including those looking to engage with SHIB’s ecosystem in various capacities.
The analyst mentioned that many within the crypto community are anticipating a strong bull run for Shiba Inu lasting between 8 to 12 months, potentially extending up to 15 months. While Humphries does concur that Shiba Inu will eventually exceed market performance, he warns that such a massive bull run will not occur immediately.
In his video, Humphries stated that the phase of explosive growth for Shiba Inu, characterized by sudden surges in price, has concluded. He based this evaluation on SHIB’s remarkable growth over the years, emphasizing that the meme coin has transformed into a multi-billion dollar asset and now holds the position of the 15th largest cryptocurrency. As a result, Humphries has advised investors to moderate their expectations and adopt a more grounded perspective regarding potential returns.
The crypto analyst acknowledged the potential for growth in both the short and long term for Shiba Inu. However, he expressed skepticism about the meme coin reaching $0.1 in the near term. He likened the chance of Shiba Inu suddenly soaring to $1 to the unlikely scenario of XRP ascending to $1,000, firmly asserting, “it’s not gonna happen.”
As of this writing, it is noted that Shiba Inu has a trading price of $0.000012, while XRP is valued at $0.52, as per CoinMarketCap.
Although Humphries does not anticipate SHIB reaching $1, he remains hopeful that the cryptocurrency could experience a tenfold increase during this cycle and reach new all-time highs. He further envisions Shiba Inu’s market cap potentially hitting $100 billion, provided there is a full altcoin season. However, these optimistic projections are primarily contingent upon favorable price movements and the positive momentum of Ethereum (ETH).
In conclusion, Humphries has advised investors to remain level-headed when investing in volatile assets such as cryptocurrencies. As a meme coin, Shiba Inu is heavily swayed by social sentiment and speculation, making emotional investment choices potentially detrimental and likely to result in unnecessary losses.
Growth of SHIB Prices Linked to Burn Mechanism
Throughout his video, Humphries pointed out that the introduction of a Shibarium burn mechanism could positively influence SHIB’s price significantly. The analyst noted that many retail investors have continuously advocated for a SHIB burn, as this approach would dramatically lower the overall supply of the token and may potentially initiate a price rally.
Featured image created with Dall.E, chart from Tradingview.com
