Shiba Inu (SHIB) Struggles to Recoup Losses, But 10 Forecasts Project a Surge to $0.001 Target

Shiba Inu has been making significant efforts to recoup some of its recent losses. On August 5, 2024, Shiba Inu was just a few steps away from adding another zero to its price after it slumped to $0.00001088.

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Shiba Inu has been struggling to recoup some of its recent losses. However, enthusiasts have remained optimistic about the token's potential price surge. As Shiba Inu enthusiasts anticipate an upward price trend, several predictions have hinted at a potential rally to $0.001.

Here are 10 predictions regarding Shiba Inu’s potential surge to $0.001:

1. Popular market analyst Armando Pantoja recently projected that FOMO (Fear of Missing Out) is about to hit Shiba Inu. He said this FOMO trend could propel the token for a 72x surge above the $0.001 price territory. Pantoja noted that investors would likely take advantage of SHIB’s low price to scoop the token for a discount.

2. In a separate commentary, Pantoja foresees SHIB hitting the $0.001 price mark this year or 2025 at worst. Interestingly, Pantoja has been expressing confidence in SHIB’s potential rise to the $0.001 price level.

3. The analyst projected that SHIB would reach the target in April after the highly anticipated Bitcoin Halving event. Recall that Bitcoin completed its fourth Halving on April 20, 2024. Despite Bitcoin completing the Halving event in April, Shiba Inu is trading far below the $0.001 territory.

4. Last month, popular crypto price tracker Coinpedia Markets forecasted that the price of SHIB could rally to $0.0016 after the U.S. SEC approves the trading of spot-based Ethereum exchange-traded funds (ETFs). A few days after the projection, the SEC finally approved nine Ethereum spot ETFs to commence trading in the U.S.

5. Other Predictions

6. In addition, Crypto Basic recently analyzed that SHIB’s price could soar to $0.001477 if it gets 50% of Bitcoin spot ETF inflows. We made the forecast in reaction to the growing demand for a Shiba Inu ETF. As reported earlier, Shiba Inu community members petitioned popular crypto asset manager Grayscale to launch an ETF for SHIB. However, it remains to be seen whether Grayscale will heed this demand.

7. According to an analysis in June, we predicted that SHIB could surpass the $0.001 mark by December 2024 if its price doubles monthly.

8. In May, popular AI chatbot ChatGPT highlighted three factors that could take SHIB to the $0.001 territory. They include massive burn, increased demand and adoption, as well as overall ecosystem improvement.

9. Also, ChatGPT’s rival Google Bard (now Gemini) forecasted a similar rally for the dog-themed token. As reported in February, Google Bard speculates that SHIB could hit the $0.001 mark anytime between ten and twenty years.

10. Furthermore, famous crypto community figure Increasity believes that Shiba Inu will surge to the $0.001 price territory in the 2024/2025 bull season.

11. Lastly, according to an analysis last year, we predicted that it could take a few years for SHIB to hit the $0.001 target if its L2 blockchain, Shibarium, successfully incinerates 111 trillion tokens annually, as projected by community figure Queenie.

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