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HomeCrypto NewsMarketTeam Predicts Shiba Inu to Join Bitcoin in Hitting a New ATH Soon, But it Seems Doubtful

Team Predicts Shiba Inu to Join Bitcoin in Hitting a New ATH Soon, But it Seems Doubtful

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The Shiba Inu ecosystem team has suggested that SHIB may be gearing up for a rally capable of pushing its price to a new record high.

The team made the suggestion yesterday shortly after Bitcoin set a new all-time high record of $126,198. With Bitcoin achieving the milestone, the team teased that Shiba Inu could be the next in line to reach a new ATH.

Historically, strong Bitcoin rallies have often triggered broader market upswings, benefiting the broader altcoin market. Bitcoin investors often reallocate a portion of their profits into altcoins like SHIB after a rally, triggering price surges across those alternative assets.

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Notably, the Shiba Inu team is anticipating a similar trend this cycle and hopes that the inflow will propel SHIB to a new ATH.

Other prominent community members have echoed the same sentiment, including Shib Spain, who predicted that a major breakout, which could help Shiba Inu clinch a new peak price, is imminent.

Can Shiba Inu Reach New ATH?

Four years since Shiba Inu last reached its ATH of $0.00008845, the token has largely underperformed, dropping 85.65% from its peak. For SHIB to set a new record high at $0.00008850, it would need to surge by approximately 596.85% from its current price of $0.00001270.

Meanwhile, the current bull run stands out from previous cycles, which were primarily driven by retail investors. This time, institutional players are leading the charge through substantial investments in Bitcoin ETFs.

Issuers of Bitcoin ETFs, along with other institutional investors, have been accumulating large amounts of BTC, driving the coin to new heights.

Notably, despite Bitcoin reaching a new all-time high, Google search interest for the asset remains low, a sign that retail investors have yet to re-enter the market.

Given that institutions continue to focus on Bitcoin accumulation, the likelihood of them diverting significant capital toward alternative assets, such as SHIB, as observed during the previous bull cycle, appears limited for now.

Bitcoin interest over time
Bitcoin interest over time

Other Factors Hindering SHIB’s Growth Prospects

Moreover, several other factors continue to hinder Shiba Inu’s potential to reach a new all-time high.

Despite the Shiba Inu ecosystem team launching multiple projects, such as Shibarium and ShibaSwap, this momentum has waned.

Concerns have also grown over the team’s lack of transparency, as many members continue to operate under anonymous identities. This absence of accountability makes it challenging for institutional investors to commit funds to SHIB and its related ecosystem tokens.

Additionally, reports of internal conflict have surfaced. Developer Kaal Dhairya recently hinted at tensions within the team, alleging that some early contributors who profited from Shiba Inu’s growth have distanced themselves while claiming to be sourcing funds for the project.

Further complicating matters, specific team figures have publicly supported other projects, diverting attention away from SHIB. Unless these internal and structural issues are addressed, the likelihood of the token reaching a new all-time high remains slim.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Author

Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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