Shiba Inu is currently trading around the $0.0000175 mark on Friday and is down nearly 8% in the day’s trade. SHIB is mostly on a downward trend in Q2 of 2024 leading to massive losses. The token had spiked 280% in Q1 this year but shed a majority of its profits this quarter. However, a new and revised price prediction from Finder’s forecasts that the token could kick-start a rally.
Also Read: Shiba Inu or Pepe Coin: Which Cryptocurrency Can Reach $0.01 First?
However, the rally could be slow and tiresome and wear out investors who want to make quick money. Only the ones who hold on for the long term could get to taste their money doubling. In this article, we will highlight when Shiba Inu could rise 160% in the charts.
Shiba Inu: A 160% Rise On the Cards For SHIB, Forecasts Finder’s
Leading price prediction firm Finder’s has forecasted that Shiba Inu could rise 160% in the indices and reach $0.000045. The tentative timeline is tiresome as the estimates suggest that it could reach $0.000045 in 2030. That’s another six years from today and is considered a long-term investment.
Also Read: Shiba Inu: Highest Price SHIB Will Trade in 2024
According to the price prediction, SHIB could surge nearly 26% every year to climb 160% in the charts by 2030. An investment of $1,000 could turn into $2,600 if the prediction turns out to be accurate in 2030.
Also Read: Binance Might Throw a Surprise to the Shiba Inu Army This Week
Finder’s analysts claim that SHIB is facing competition in the meme coin segment by new players. Several meme coins have mushroomed lately and are looking to sink both Shiba Inu and Dogecoin.
“It’s difficult to say whether SHIB has staying power in the meme coin sector,” said Finders. “We’ve seen newer meme coins take a lot of market share from SHIB, and this trend is likely to continue.” Therefore, the token is expected to face further competition in the coming years which could reduce its fanfare.