The Shiba Inu ecosystem team has recently ignited excitement by discussing SHIB’s potential to reach a new all-time high (ATH). However, October has not met investor expectations. Many had anticipated significant price rallies across various crypto assets, including Shiba Inu.
Current Market Challenges
Several factors have contributed to a sluggish start for October in the cryptocurrency market. Increased long liquidations have heightened volatility and uncertainty among investors. Additionally, escalating geopolitical tensions in the Middle East have dampened investor confidence, further impacting overall market sentiment.
As a result, Shiba Inu has faced notable declines. After hitting a three-month high of $0.00002156 on September 27, the token has fallen approximately 23.56%. Currently, it trades around $0.00001648. In the first few days of October alone, SHIB’s price decreased by 11.1%, reflecting a broader downturn in the crypto market.
Community Engagement and Aspirations
In response to growing speculation about SHIB’s price potential, the ecosystem team engaged with its community on X (formerly Twitter). They asked followers to share their plans for when SHIB reaches a new ATH. The prompt, “When SHIB hits a new high, I’m going to _,” encouraged diverse responses. Some community members expressed intentions for vacations or retirement, while others planned to increase investments or purchase luxury items like Lamborghinis.
Tell everyone I told you so while continuing to build for the ecosystem and welcoming all new members to this amazing vision.
— JD’s Updates (@jds_updates) October 3, 2024
Prominent figures within the community, such as JD from PawZone, also shared their optimism about SHIB’s future price milestones. They welcomed newcomers into the community and promised to remind followers of their predictions.
Expert Predictions for Future ATH
Despite current challenges, many analysts remain bullish about Shiba Inu’s potential to achieve a new ATH during the upcoming 2024/2025 market cycle. Alan Santana projects an ambitious new ATH target of $0.00023179 by 2025. This increase would require approximately 1,306% growth from current levels.
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— FXCryptoNews (@FXCryptoNews) December 14, 2023
Oscar Ramos suggests that SHIB could reach an ATH of $0.00017 within the next year, representing around 931.55% gain. Meanwhile, top trader Dexter estimates that SHIB could trade between $0.000089 and $0.00015 in the coming months.
Read Also: Explosive 40% Growth in Shiba Inu: Is This Just the Beginning?
While Shiba Inu faces significant hurdles in the short term, community engagement and expert predictions suggest hope for a new ATH in the coming years. Investors will closely monitor market developments as they unfold throughout 2024 and into 2025.
