Despite a recent slump, Shiba Inu (SHIB), the popular memecoin, is generating a buzz of optimism among financial experts. A recent survey conducted by Finder, a financial comparison platform, revealed that a panel of 13 crypto specialists anticipate a significant price surge for SHIB in the coming years.
Recent Downturn for Shiba Inu
While the expert predictions paint a rosy picture, SHIB’s recent performance has been lackluster. The token has witnessed a decline across various timeframes, dropping 3.71% in the daily charts and a substantial 11.89% over the past week. The broader market downturn seems to have impacted SHIB as well, with a 4.32% and 35.7% plunge in the last 30 and 90 days respectively.
However, a glimmer of hope emerges when examining SHIB’s performance on a larger scale. The token has exhibited impressive growth year-to-date (YTD), surging a commendable 68.3%. Additionally, SHIB has managed a slight gain of 3.97% in the month-to-date (MTD) timeframe.
Expert Predictions: A Potential 400% Surge
Despite the recent dip, the Finder survey indicates that crypto specialists remain bullish on SHIB. The panel projected a price target of $0.00001 for SHIB by the end of 2024, representing an 11.11% increase from the price at the time of the survey ($0.000009). Interestingly, SHIB’s current price of $0.00001740 has already surpassed this target by a significant margin (74%).
The bullish sentiment continues into the future, with experts predicting a price of $0.000025 by 2025 and a more ambitious $0.000045 by 2030. This translates to a staggering 400% increase from the price point at the time of the survey. Notably, SHIB had previously reached this $0.000045 mark in early March before succumbing to the broader market correction.
Has Shiba Inu Already Achieved Long-Term Targets?
The survey results raise an interesting point. SHIB has already achieved some of the long-term targets set by the experts. The early March rally that pushed the price to $0.000045 demonstrates the token’s potential for rapid growth. This achievement suggests that the $0.000045 target for 2030 could be reached sooner than anticipated.
Should You Hold Shiba Inu?
The Finder survey also delved into investor sentiment. When asked whether investors should buy, sell, or hold SHIB, the results were divided. Interestingly, a majority (50%) of the panelists recommended holding onto the dog-themed token, expressing faith in its future potential.
In contrast, 30% of the specialists believed it’s time to sell SHIB, while the remaining 20% suggested buying the token. This highlights the inherent volatility and speculative nature of the cryptocurrency market, particularly for memecoins like SHIB.
Conclusion
The future of Shiba Inu remains shrouded in uncertainty. While expert predictions offer a glimpse of optimism, the cryptocurrency market is known for its dramatic swings. Investors considering SHIB should conduct thorough research, understand the inherent risks, and develop a well-defined investment strategy before committing their capital.
