Shiba Inu (SHIB) Price Will Skyrocket 1,000%? This Is What Analysts Say!

Bittime - Crypto analyst Eljaboom provides a glimmer of hope for Shiba Inu meme token holders. According to him, the price of Shiba Inu (SHIB) has the potential to explode by up to 1,000% during this bull run (price upward trend). Eljaboom believes history will repeat itself for SHIB, as it did in 2021.

Analyst Predicts Shiba Inu (SHIB) Price Could Rise 1,000%

Eljaboom, via an upload on platform This prediction is based on his observations of SHIB price movement patterns in the past. In fact, Eljaboom includes graphs to strengthen its analysis.

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Crypto analyst Crypto Emily seems to agree with Eljaboom's predictions. He said anyone who has lost faith in SHIB is "foolish" for not seeing the huge potential this meme coin has.

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Eljaboom's predictions also align with other crypto analysts. Javon Marks, for example, predicts that SHIB will rise to $0.0001553 (around Rp. 2.5). 

Also read: Can the price of Shiba Inu (SHIB) reach 1 cent per token?

Crypto analyst Capt Toblerone, used Elliot Wave theory to analyze the SHIB chart, and predicted the price would reach $0.00022 (around Rp. 3.58) in the 3rd wave of the pattern. Interestingly, Capt Toblerone estimates that this increase could occur in September 2024!

Some other crypto analysts, such as Armando Pantajo, make even more fantastic predictions. Pantajo predicts SHIB will cut the two zeros after the decimal point and reach $0.001 (around Rp. 16.2). 

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In fact, crypto analyst Ali Martinez was even bolder by predicting that SHIB could cut three zeros. According to him, the price of Shiba Inu (SHIB) could reach $0.011 (around Rp. 178).

Also read: SHIBA INU (SHIB) Breakout! Will Bitcoin (BTC) & Solana (SOL) Follow?

Factors That Make Shiba Inu (SHIB) Prices Skyrocket

So, what could make SHIB explode so high? There are several factors that could drive this price increase. One important factor is the adoption of SHIB by financial institutions. 

The SHIB community is intensively lobbying Grayscale, a leading crypto investment company, to launch a SHIB-specific ETF (Exchange Traded Fund). This petition created by the SHIB community has collected more than 10,000 signatures, showing their enthusiasm and sincerity.

The launch of the SHIB ETF has the potential to bring significant new funding flows into the SHIB ecosystem. Thus, this triggers a sharp price increase. 

Additionally, new funding inflows are also expected to come in when the SHIB development team launches the privacy-focused layer-3 network they designed. This new network is expected to attract more users to the SHIB ecosystem.

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Meanwhile, the Shibarium layer-2 network certainly still plays an important role in SHIB's growth. The network is committed to using a portion of network transaction fees to burn SHIB tokens. 

Thus, Shibarium is expected to again burn large amounts of tokens along with increasing daily transaction activity on the network.

How to Buy Shiba Inu (SHIB) on Bittime

You can buy and sell Shiba Inu (SHIB) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Shiba Inu (SHIB) is available on Bittime with the market pair SHIB/USDT. To be able to buy SHIB USDT on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Shiba Inu (SHIB) on Bittime. 

Monitor price chart movements of Shiba Inu (SHIB), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Will Shiba Inu Soar High After Bitcoin Halving?

Shiba Inu Burn Token Makes Shiba Inu Market Cap Soar Sharply

Shiba Inu Price Analysis: Will It Return to the Top?

Shiba Inu (SHIB) Price At Launch Of Phase 2 Hard Fork Strategy For Shibarium

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.