The Shiba Inu team has reignited hope among investors by teasing the possibility of a new all-time high (ATH) for SHIB.
This comes despite recent market struggles and October’s disappointing price action for the token. With investors’ optimism still alive, the SHIB community is buzzing, anticipating what could come next. Could Shiba Inu hit a new ATH soon?
Shiba Inu SHIB’s October Setbacks and Market Challenges
Like most cryptocurrencies, Shiba Inu has faced some tough challenges in October. The meme token experienced a notable price drop after reaching a three-month high of $0.00002156 on September 27.
SHIB dropped by 23.56% in less than a month, settling at $0.00001679, and is down by 13.7% in the past week. This bearish momentum is also visible in its 24-hour trading volume. According to CoinMarketCap, Shiba Inu’s trading volume is down 24.64%, at around $390 million.
These setbacks align with the broader crypto market struggles amid selling pressure due to rising geopolitical tensions, particularly in the Middle East.
However, despite these issues, Shiba Inu’s community continues to show unwavering belief in the token. They believe Shiba Inu could eventually bounce back and hit a new ATH during the next market cycle.
This recent optimism has caused a daily increase of more than 5%, with SHIB trading around $0.00001683.
Shiba Inu’s X Post Ignites Enthusiasm
Shiba Inu’s ecosystem team posted a thought-provoking message on X (formerly Twitter), playing on the community’s hopes for SHIB’s future.
The post asked: “When SHIB hits a new high, I’m going to _______,” encouraging fans to share their plans for the token’s next peak.
When SHIB hits a new high, I’m going to _______
— Shib (@Shibtoken) October 3, 2024
The responses from SHIB enthusiasts were diverse and filled with excitement. Many community members replied with personal dreams, including plans to retire, increase their investment in SHIB, or even buy luxury items like a Lamborghini.
The enthusiasm in the community isn’t new. On October 28, 2021, Shiba Inu reached its all-time high of $0.00008616, a record that sent waves of excitement across the crypto world.
This previous rally shows that current enthusiasm has strong roots, as SHIB has already proven its potential once. However, since then, the token’s value has dropped by over 80%, leaving many wondering if it could recover.
Expert Predictions of a New All-Time High
The Shiba Inu community isn’t the only group that believes in SHIB’s potential. Experts and market analysts believe Shiba Inu will break its previous ATH and reach new heights during the 2024/2025 bull market.
One such analyst, Alan Santana, has projected that Shiba Inu could reach a new ATH of $0.00023179 during the next bull run. If Santana’s prediction comes true, it would mean a 1,306% surge from SHIB’s current price.
His confidence stems from positive developments, such as the increased use of Shibarium and layer-2 blockchain and a recent uptick in SHIB burns.
Oscar Ramos, another prominent crypto analyst, has also made bullish predictions. Ramos speculates that SHIB could hit a new ATH of $0.00017 by next year, representing a 931.55% increase from its current value. He points to the same ecosystem developments as reasons for his optimistic outlook.
If You HOLD $SHIB, I Got NEWS For You
1. $0.00002 REACHED, 1st step
2. The ONLY Shiba Inu Price Prediction You Need
3. Current #SHIB ATH is in Danger Now😈
4. 750% PUMP is Realistic (00017 per SHIB)
5. MORE BURNS INCOMING?
6. I opened a 100x Position yesterday and I’m up 100%! pic.twitter.com/GvyMJckDM9— Oscar Ramos (@realOscarRamos1) September 27, 2024
Adding to the excitement, top trader Dexter recently predicted that SHIB could trade between $0.000089 and $0.00015 in the coming months. This further fuels the community’s anticipation that the token could hit new highs as the market picks up.
Despite Shiba Inu’s challenges this October, the community’s belief in a new ATH is stronger than ever. While the future remains uncertain, the excitement surrounding SHIB’s potential rally is undeniable.
