Shiba Inu is facing the heat from the bearish market trend. However, core proponents remain hopeful that a major rebound is due
October has yet to bring the explosive crypto rallies investors had hoped for, and Shiba Inu (SHIB) is feeling the sting. Factors like geopolitical tensions and regulatory uncertainty have weighed in on the market’s performance, impacting SHIB.
Market Struggles vs. Community Confidence
After hitting a three-month high of $0.00002156 in late September, Shiba Inu has since dropped by 23.56%, now trading at $0.000017. The token’s performance reflects the wider market, which has faced its challenges as October progresses.
SHIB is down by 11.1% this month, and its weekly chart shows a 13.3% decline. Notably, Shiba Inu’s last all-time high (ATH) came nearly three years ago on October 28, 2021, when it hit $0.00008616 per token. Since then, the price has fallen 80.7%, but the community remains hopeful.
Despite these setbacks, the SHIB developer team has engaged the community. A recent X post from a user has sparked excitement and plans from supporters who believe in the token’s potential recovery.
Ongoing developments in the Shiba Inu ecosystem buoy these optimistic projections. Shibarium’s rising Total Value Locked (TVL) and recent increases in token burns are key factors that could drive renewed interest in SHIB.
Expert Projections: How High Can Shiba Inu Go?
Market analysts’ sentiments are divided on Shiba Inu’s future potential, but many expect a strong performance in the next bull market. Some predicted it could remove a zero and reach $0.0001 or higher soon.
Alan Santana has forecasted an ATH of $0.00023179 by 2025, marking a potential 1,306% surge from its current level. Other notable figures, such as Oscar Ramos SHIB KNIGHT, predicted a rise to $0.00017 by next year after noting that the ATH is due.
Other voices, like trader Dexter, JD, founder of PawZone, have also expressed optimism about SHIB’s future. Broader market dynamics and internal ecosystem improvements drive these bullish predictions. However, whether these targets will be reached before the 2024/2025 market cycle ends remains speculative.
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