There’s plenty of interest in cryptocurrencies this week. Today’s trading session has seen the overall value of the crypto market surge about 5% over the past 24 hours to more than $1 trillion in total value. This move has been driven by stalwarts Bitcoin (BTC-USD) and Ethereum (ETH-USD), but also meme tokens like Shiba Inu (SHIB-USD). Now, interest in Shiba Inu price predictions is climbing.
What’s behind today’s rise? Indeed, it seems like it has been weeks since we’ve seen a full-on rally in crypto. As a higher-risk growth sector, many investors have seen fit to forget about the asset class and find more defensive investments. With recession fears increasing amid surging inflation and rising rates, the strategy makes sense.
The crypto market does have some catalysts today, however. Most important to SHIB is Ethereum’s upcoming Merge upgrade, which now has a tentative date of Sept. 19. When ETH is on the rise, investors can expect Ethereum-related tokens to benefit.
With that said, let’s dive into where Shiba Inu price predictions see it headed next.
Shiba Inu Price Predictions
For context, SHIB trades at $0.00001166 at the time of writing.
- WalletInvestor provides one-year and five-year price forecasts of $0.000016 and $0.0000347 for SHIB, respectively.
- Similarly, Gov Capital projects that Shiba Inu could be worth $0.000086 in 2023 and $0.000697 in 2027.
- Finally, DigitalCoinPrice suggests SHIB could average $0.0000173 in 2023 and $0.0000275 in 2027.
On the date of publication, Chris MacDonald 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.