Today, crypto prices are plunging on the Federal Reserve’s rate hike from last week. In just days, crypto markets have lost roughly $200 billion in value as names like Bitcoin (BTC-USD), Ethereum (ETH-USD) and Solana (SOL-USD) finally react to the news. While today’s focus has mainly been on some of the biggest cryptos, smaller meme tokens have been fighting against the bearish energy as well. However, some experts still remain bullish on the pupcoin pack — and specifically Shiba Inu (SHIB-USD). Even as its prices fall, Shiba Inu price predictions are mostly positive.
For one, Elon Musk’s recent purchase of Twitter (NYSE:TWTR) has helped keep pupcoins like SHIB in the spotlight. However, some experts are still wondering if this will be enough. InvestorPlace contributor Thomas Niel recently speculated that the Fed’s rate hikes will put more pressure on the token despite its other catalysts:
“It’s too early to tell whether its Shibarium layer-2 solution will help the Shiba ecosystem attract more developers and investors. As for its token burning efforts, while the destruction of SHIB tokens has picked up, it’s still far from enough to make a difference […] It’s silly to assume these ‘catalysts’ will be any match to the downward pressure […]”
Looking forward, the selloff may indeed continue as bearish energy in the crypto markets persists. Still, other experts see SHIB prices rallying, continuing to rise before the end of 2022. So, with that said, let’s take a look at some recent Shiba Inu price predictions.
Shiba Inu Price Predictions
- WalletInvestor still regards SHIB as a positive investment. According to recent analysis, the site sees a $100 investment in Shiba Inu today being worth more than $863 by 2027. The site has a one-year price target of $0.0000414 for SHIB.
- Gov Capital remains similarly bullish on Shiba Inu. The platform predicts that prices will rise by as much as 527% by May 2023. According to the site, that would make a $100 investment today worth up to $627 in exactly one year. Gov Captial has a one-year forecast of $0.000119 for SHIB.
- Finally, DigitalCoinPrice is fairly bullish with its Shiba Inu price predictions. The platform notes that the token’s latest 24 hour volume of $1.36 billion is “massive and impressive.” It sees prices rising as high as $0.0000218 in 2022 and as high as $0.000024 in 2023.
On the date of publication, Samuel O’Brient did not hold (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.