Meme-token extraordinaire Shiba Inu (CCC:SHIB-USD) has plenty of tails wagging this morning. Shiba Inu price predictions are flying after a series of positive developments related to the cryptocurrency has it surging.
So what do you need to know?
After yesterday’s listing on crypto exchange platform Kraken, Shiba Inu has skyrocketed. The listing confirms that SHIB is now available on the 10 largest crypto platforms in the world. With the glory comes the spoils: SHIB is up more than 30% on the day and has overtaken Avalanche (CCC:AVAX-USD) as the 11th largest crypto in terms of market capitalization. Many major cryptos have seen a resurgence this week, after a fairly muted month overall, but few greater than SHIB.
Despite its jovial origins, SHIB continues to make plays to cement its spot ascrypto royalty. In a Nov. 26 Medium article, project lead Shytoshi Kusama detailed a new partnership with former Activision (NASDAQ:ATVI) Vice President David Yolk to work on a Shiba Inu video game. Until Roblox (NYSE:RBLX) made its fated debut, Activision was the most valuable video game company in the world. As such, approaching a former VP for a AAA publisher to assist on the game makes sense. The article provides details on the project, mentioning that it would be a mobile game and intertwine with the current Shiba Inu architecture. In-game purchases would be used for SHIB and LEASH (CCC:LEASH-USD) burns, and there would be several elements of the Metaverse to be discovered in-game.
With all the momentum going for it, will the current up-trend continue? Let’s find out what some experts think about the future of SHIB.
Shiba Inu Price Predictions: Where Is SHIB Headed Next?
- With SHIB currently sitting at $0.000049, CryptoPotato thinks it may go higher but is unlikely to sustain a higher pricepoint. Based on technical analysis, it believes positive momentum will likely continue but that it will only be met by an eventual pullback. It predicts that if SHIB can break through its current $0.000055 resistance, it could soar much higher in the short term.
- WalletInvestor believes the canine coin will likely drop back down over the next two weeks to $0.00004. In the long run, however, the platform is bullish on the coin. It set a one-year price target of $0.000089 and a five-year target of $0.000289.
- CoinPriceForecast sees Shiba Inu riding its current momentum to new heights. It set a two-week price target of $0.00012 and estimates that it will finish 2022 at $0.00037, for a more than 600% increase to its current price. It’s worth noting that SHIB’s all-time high is $0.00008, which it achieved this past October.
- FXStreet sees its current momentum continuing into long-term growth. It estimates SHIB can use its current momentum to yield a more than 125% breakout to $0.000088.
On the date of publication, Shrey Dua 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.