As a seasoned cryptocurrency researcher with over a decade of experience in the financial markets, I find Zach Humphries’ bullish prediction for Shiba Inu (SHIB) intriguing, yet plausible. Having closely observed and analyzed the crypto market’s dynamics, I can attest to the fact that altcoin seasons can indeed propel certain coins to new heights. However, I would advise caution when it comes to expectations – a run similar to SHIB’s 2021 bull run might be challenging to replicate given its current market position and size.
Crypto analyst Zach Humphries has made a bullish case for Shiba Inu (SHIB), predicting that the crypto token could rise to as high as $0.00014 in this market cycle. The analyst also warned against having too many expectations from the meme coin, suggesting that it is unlikely to have the kind of run it did in 2021.
Shiba Inu Could Rise To As High As $0.00014
Zach Humphries mentioned in a video on his YouTube channel that Shiba Inu can “definitely” enjoy a 10x run from its current price level, meaning that it can reach a new all-time high (ATH) of $0.00014 in this bull run. A rise to such a price level also means that Shiba Inu will come close to hitting a $100 billion market cap, which the crypto analyst also noted is possible.
The crypto expert indicated that a price surge in Shiba Inu could occur if the cryptocurrency market experiences another period of altcoins gaining popularity, often referred to as an “altcoin season.” Moreover, he pointed out that Ethereum‘s performance will play a crucial role in triggering this altcoin season. Specifically, for Shiba Inu to rise, Ethereum must set new record highs first.
Zach asserted that SHIB is the biggest ERC-20 coin. As such, it only makes that the second-largest meme coin by market cap witnesses a significant price rally as Ethereum makes its move during the altcoin season. This isn’t the first time that Zach has laid such an ultra-bullish price prediction for Shiba Inu. In June, he mentioned that the meme coin will reach a $100 billion market cap in this market cycle.
As a researcher delving into the cryptocurrency realm, I’ve observed predictions from analysts such as Oscar Ramos, who foresees Shiba Inu shedding another zero in its current price, potentially reaching $0.0001. Interestingly, Javon Marks also speculates a more ambitious target for Shiba Inu, suggesting it could surge as high as $0.0001553.
SHIB Unlikely To Replicate Its 2021 Bull Run
Despite his bullish prediction for Shiba Inu, Zach warned that the meme coin’s days of recording massive gains in weeks are long gone, suggesting that the meme coin cannot replicate its 2021 bull run. Shiba Inu recorded a price gain of 157 million percent in the 2021 bull run, as its price continued to skyrocket for weeks before reaching an ATH of $0.00008845 in October 2021.
The crypto expert advised Shiba Inu investors, new and existing, to keep their expectations for returns from the meme coin “moderate.” Zach pointed out that unlike in 2021, SHIB now ranks among the top cryptocurrencies by market cap with a cap worth billions of several billion dollars. As a multi-with a suggestion that the meme coin may have less potential for further price increases. In light of this, the crypto expert cautioned investors against heeding to those claiming Shiba Inu can reach $0.01 or even $1.
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2024-09-04 00:42