Analysts predict significant price movements for Shiba Inu (SHIB) if Ethereum (ETH) reaches an ambitious target of $100,000. The recent approval of Ethereum exchange-traded funds (ETFs) has sparked optimism in the crypto market.
Ethereum’s Price Predictions
Changelly analysts forecast that ETH will hit $100,000 by June 2033. They project a maximum price of $101,231 and an average of $86,007. To achieve this target, ETH must increase by 3,218% from its current price of $3,013.5.
Shiba Inu’s Correlation with Ethereum
Given the strong correlation between ETH and SHIB—reported at 78% over the past month—market watchers expect SHIB to mirror ETH’s price movements. If SHIB experiences a similar 3,218% increase, its price could rise from $0.00001469 to approximately $0.0004871. This surge would potentially lead to a market capitalization of $311 billion.
Expert Opinions on Shiba Inu
Market analysts have diverse predictions for SHIB’s future. Some, like Google Bard, suggest that SHIB could reach around $0.0005 between 2025 and 2026. Meanwhile, Changelly believes this milestone may not occur until 2033. Despite SHIB’s current decline—down 62.4% from its yearly high and 80.89% from its all-time high—analysts remain optimistic about its growth potential.
Current Market Performance
Currently, SHIB is struggling, having fallen significantly from its yearly high of $0.000045, recorded on March 5, 2024. However, analysts believe that the broader market could experience a resurgence if ETH continues to rise.
In conclusion, the anticipated surge in Ethereum’s price could significantly benefit Shiba Inu. If ETH reaches its target of $100,000, SHIB could potentially achieve a new all-time high, with projections suggesting a price of $0.0004871. Investors in Shiba Inu may find themselves in a favorable position in the coming years, thanks to the expected positive impact of Ethereum’s performance on the broader crypto market.
