Shiba Inu [SHIB] has continued to remain the world’s second-largest meme coin by market capitalization. The asset has shown impressive resilience and potential for future growth. In the last 24 hours, SHIB surged by 5.75%, fueled by speculation surrounding the potential approval of the first spot Ethereum ETF.
This rally propelled SHIB’s value above the $0.000025 threshold. Despite being down 6% over the past 30 days, SHIB has rallied over 5% in the past two weeks, prompting questions about its future price trajectory.
As of press time, SHIB was valued at $0.00002642, marking a notable 10% daily surge. This upward momentum has sparked renewed interest and speculation within the crypto community regarding SHIB’s long-term prospects.
Market analysis and predictions by Telegaon, a well-regarded source of market insights, have added fuel to this speculation. They have been projecting that Shiba Inn could reach a price of $0.035 or 3.5 cents, by 2040.
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Shiba Inu: Short-Term and Long-Term Predictions
Telegaon’s short-term predictions suggest that SHIB could achieve a minimum price of $0.0000421 by the end of the year, nearly doubling its current valuation. Looking further ahead, Telegaon forecasts a peak price of $0.0000601 in 2024, with an average trading price of around $0.0000567 throughout the year. These predictions indicate a steady upward trend, aligning with broader market optimism.
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Meanwhile, the long-term forecast for Shiba Inu is particularly ambitious. They predict that SHIB could achieve a peak price of $0.089 between 2024 and 2040. This substantial growth is anticipated to occur in stages, with significant milestones projected for the period between 2030 and 2040.
According to Telegaon, the path to $0.035 by 2040 is plausible. It is driven by factors such as increased adoption, technological advancements, and overall market growth.