Bitrabo Editorial
Zach Humphries, a crypto analyst, has outlined a positive outlook for Shiba Inu (SHIB), forecasting a potential surge in value to $0.00014 during this market cycle. While expressing optimism, he cautioned against expecting a repeat of the massive gains seen in 2021.
Projected Increase to $0.00014 for Shiba Inu
During a video on his YouTube channel, Zach Humphries suggested that Shiba Inu could experience a significant tenfold increase from its current price, reaching a new all-time high of $0.00014 in the current bullish phase. This surge would bring the market cap of Shiba Inu close to the $100 billion mark, a milestone identified by the analyst as within reach.
The analyst emphasized that Shiba Inu’s upward momentum would be contingent upon the occurrence of another altcoin season in the crypto market. He highlighted the importance of Ethereum’s performance in driving such a season and asserted that for Shiba Inu to follow suit, Ethereum would first need to achieve new highs.
Describing SHIB as the largest ERC-20 token, Zach justified his expectation of a substantial price rally for the second-largest meme coin by market capitalization, pointing to Ethereum’s anticipated market movements during the altcoin season. This optimistic projection aligns with his previous assertion in June about Shiba Inu reaching a $100 billion market cap in the ongoing market cycle.
Furthermore, other analysts, including Oscar Ramos and Javon Marks, have also voiced bullish forecasts for Shiba Inu, predicting price increases that would involve the removal of additional zeros from the current value.
Cautious Assessment of Shiba Inu Future Performance
Despite his positive outlook, Zach Humphries cautioned that Shiba Inu is unlikely to replicate the extraordinary gains seen during the 2021 bull run. Drawing attention to the historical surge that resulted in a 157 million percent price increase and an all-time high of $0.00008845 in October 2021, he advised investors and prospective traders to manage their expectations realistically.
Highlighting the evolution of SHIB into one of the leading cryptocurrencies with a substantial market capitalization, the analyst suggested that the meme coin’s potential for significant price appreciation may be limited compared to previous periods. He issued a warning against unwarranted projections of Shiba Inu reaching values like $0.01 or $1, urging caution and a balanced perspective.