Shiba Inu (CCC:SHIB-USD) is on the verge of some serious momentum. The altcoin is currently eyeing up a new all-time high as it narrows the increasingly smaller gap. Trading volume of the coin is up nearly twofold today as bulls continue a push to get the crypto to a new value. Just since this morning, the network has added over $700 million in market capitalization. Of course, the jaw-dropping price movement the coin is seeing is prompting investors to seek out their Shiba Inu price predictions.
It would be foolish to say that nobody saw Shiba Inu’s rise coming; the coin and its ecosystem have found one of the most fervent fanbases across the whole cryptocurrency asset class. Where it began as a child of Dogecoin (CCC:DOGE-USD), a meme based on another meme, it has taken on a new goal since the spring of being the “Dogecoin killer.” Its developers have created a robust staking ecosystem, where SHIB holders can stake their SHIB for passive income. Since its first bout of success, which brought it to its all-time high in May, the network has added a governance token that allows the community to be more involved with the development of SHIB.
The last two weeks have been exceptional for the SHIB coin and its holders. SHIB has grown well over 200% in valuation, putting it right back up near its all-time high of $0.0000388 from May. If it continues its current pace, it will surely retake this all-time high and spark a new era for the coin. As it stands right now, the coin is 25% lower than its all-time high. Just today, it is gaining 17%; on this past week alone, it has gained 170%.
Shiba Inu Price Predictions: Where Might SHIB Go Upon Hitting New All-Time High?
It seems all but inevitable that SHIB will reach its old glory and start paving new highs for itself soon. Where it goes in terms of development is up in the air; however, if SHIB bulls are to get their way, a Robinhood (NASDAQ:HOOD) listing or similar catalysts can keep these monolithic gains just as large as they are this week. With that being said, what are analysts thinking about the future state of SHIB? Let’s take a look at some Shiba Inu price predictions and find out:
- CoinPriceForecast thinks SHIB will boom past its all-time high and move ever-closer to its next decimal value before the year is up. By December, the site is expecting a price of $0.000059.
- Gov Capital thinks SHIB can reach a similar value, but it will take a much longer time. The site’s 12-month forecast places a price target of $0.0000559 on SHIB by next October.
- The Economy Forecast Agency predicts that with its current bullish momentum, the coin can see a high of $0.000069 by the end of 2021. On a similar trajectory, the site is forecasting a price of $0.00015 for the coin by next October.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.