Shiba Inu (SHIB) has the potential to rise to $0.0000225 next year, according to ChangeNow, which cited forecasts from a price-tracking resource.
While the future of Shiba Inu (SHIB) remains uncertain, numerous platforms have attempted to make predictions of its price direction from its current position. The latest is ChangeNow, which predicted a $0.0000225 price for SHIB next year, citing external sources.
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— ChangeNOW (@ChangeNOW_io) May 31, 2023
In a recently-published blog post, ChangeNow, a leading crypto exchange service, took account of Shiba Inu’s current position, the dynamics of its ecosystem, and the asset’s projected price for the next one to seven years.
SHIB’s Bearish Position
ChangeNow aptly emphasized that Shiba Inu’s all-time high value of $0.00008616, which the asset attained in October 2022, was driven by a combination of several factors, including listing on top exchanges such as Binance and Coinbase Pro, increased adoption, and the development of the SHIB ecosystem.
However, ChangeNow identified that SHIB had faced a decline in recent times, changing hands at a value less favorable for investors. The Crypto Basic reported last week that, at its current position, SHIB had left over 1 million investors at a loss. Despite the setback, Shiba Inu boasts a resilient and vibrant community.
Shiba Inu Price Prediction
Citing data from DigitalCoinPrice, a top price-tracking resource for crypto assets, ChangeNow noted that Shiba Inu is projected to trade at an average price of $0.0000186 in 2024, ranging from a low of $0.0000191 to a high of $0.0000225. The $0.0000225 target would mark a 164% increase in the value of Shiba Inu, which currently stands at $0.00000851.
In addition, Shiba Inu’s price projection for 2025 stands at an average of $0.0000293, with a projected low of $0.0000256 and a potential high value of $0.0000313. Ultimately, combining data from DigitalCoinPrice and CoinPriceForecast, ChangeNow put Shiba Inu’s projected high value at $0.0000913 in 2030.
Factors Behind the Forecast
ChangeNow factored in several developments that could sway the direction of Shiba Inu’s price. According to the article, these developments include the overall market conditions and the state of the Shiba Inu ecosystem. This sentiment syncs with the projection of Microsoft’s Bing AI.
ChangeNow believes Shibarium’s launch will significantly impact SHIB’s price, depending on its success and adoption. The upcoming layer-2 network could attract more developers and investors, bolstering demand and utility. Shibarium is expected to launch between Q3 and Q4 this year.
Another factor taken into account is the development of the ShibaSwap DEX. The development team is looking to launch a more streamlined version of the decentralized exchange, dubbed ShibaSwap 2.0. In addition, ChangeNow highlighted the success of SHIB: The Metaverse as another catalyst to propel the price of Shiba Inu.
Investors should note that these forecasts are mere projections of SHIB’s price and should not serve as investment advice. This is because several unforeseen factors could influence a lower price or trigger a much higher value for the asset.