The Shiba Inu ecosystem team recently sparked excitement by posting on X about SHIB hitting a new all-time high (ATH). This post has reignited hope in the community despite a disappointing start to October. Crypto assets, including SHIB, have struggled this month due to various challenges affecting the financial markets.
October’s Disappointing Performance for Shiba Inu
In October, Shiba Inu experienced significant losses, mirroring the broader market’s downturn. After reaching a three-month high of $0.00002156 on September 27, SHIB has since fallen by 23.56%, landing at $0.00001648. The token is also down 11.1% since the start of the month and 13.3% on the weekly charts. Many investors blame this on growing long liquidations and rising geopolitical tensions in the Middle East.
Shiba Inu Community’s Optimism
Despite this bearish trend, many Shiba Inu community members remain confident. They believe that SHIB will eventually reach a new ATH in the 2024/2025 bull market. The ecosystem team’s post on X invited users to share what they plan to do when SHIB reaches a new high. The message encouraged community interaction, with responses ranging from vacation plans to increased SHIB investments.
Notably, community figures such as JD, PawZone’s founder, promised to remind everyone of their predictions when SHIB achieves a new ATH. JD also intends to welcome new members to the community at that time.
SHIB’s Previous ATH and Predictions for 2024/2025
Shiba Inu’s previous ATH occurred on October 28, 2021, when the token hit $0.00008616, according to CoinGecko. Since then, SHIB has dropped 80.7% from that peak.
However, experts remain optimistic. They foresee SHIB eliminating leading zeros and potentially reaching $0.0001. Market observer Alan Santana predicts SHIB could hit $0.00023179 by 2025, requiring a surge of 1,306%. Meanwhile, analyst Oscar Ramos expects SHIB to set a new ATH of $0.00017 next year.
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With positive ecosystem developments, many believe SHIB has a bright future ahead.