Following Dogecoin, Shiba Inu (SHIB) is currently the second-largest memecoin by market capitalization. Despite its current value being far from $1, analysts have suggested a scenario where SHIB could potentially experience an incredible surge in the future.
At present, SHIB is trading at $0.00001020, having seen a 1.67% increase in the past 24 hours, with a daily trading volume of $218.17 million. Although the price is 88.46% below its all-time high (ATH), SHIB showed signs of recovery last year.
CryptoTicker highlighted the sentiment surrounding SHIB, pointing out a “Greed” level of 73 on the Fear and Greed Index, and an optimistic trend based on 21 positive days out of the last 30. SHIB’s market cap performance surpassed 64% of the top 100 crypto assets last year, showcasing its high liquidity level.
CryptoTicker emphasized that SHIB is far from finished, with technical indicators suggesting a cryptocurrency with potential rather than one nearing its end. Recent price performances support this optimistic outlook.
Notably, Tron (TRX) founder Justin Sun’s withdrawal of SHIB tokens from Binance caused significant concern, yet SHIB maintained its strong stance without negative reaction. CryptoTicker took their predictions further, suggesting SHIB could reach the astonishing level of $1, which would require a 95.7 million percent increase from its current price. Factors such as token burning could significantly contribute to price increases by creating scarcity. While achieving $1 for SHIB seems nearly impossible now, the volatile nature of the crypto market has historically produced unexpected prices. Shiba Inu’s lead developer Kusama also hinted at major announcements that could impact SHIB’s price growth.