Famous analyst expects 5000 percent increase in Shiba Inu (SHIB)!

Crypto Sheriff, known for his cryptocurrency analysis, has made three different price predictions for Shiba Inu (SHIB).

While Bitcoin's recent increase has created an optimistic atmosphere in the market in general, $SHIB has gained 23 percent in this process and is trading at $ 0.00001840 as of writing the news. Crypto expert Crypto Sheriff has set three price targets for the popular altcoin. One of the scenarios the analyst focuses on points to an ambitious target of 5000 percent.

Crypto Sheriff's first target for SHIB is $ 0.00002. The analyst, who thinks that this level is important in the short term, has an 8 percent increase from the current price. His second target is $ 0.0002. SHIB needs to increase by 900 percent to reach this price. Sheriff's latest price estimate is $0.001. This estimate, which seems very far-fetched at the moment, means a 5000 percent increase from the current price.

Crypto Sheriff is not the only one making a striking price prediction about Shiba Inu. Famous analysts LuckSide and Krao think that the popular memecoin can reach $0.001. Krao believes that the SHIB target can be achieved in the first quarter of 2025. Shiba Inu, which has come to the fore with its burning (reduction of circulating supply) transactions, may explode upwards with the launch of spot ETFs that have been on the agenda for a while. However, the possibility of reaching $0.001 is almost impossible for now.

Another factor to pay attention to for the Shiba Inu price will be the performance of memecoins. It is possible that the memecoin trend will directly affect the $SHIB price. An increase in money inflow into this category gives a bullish signal for Shiba Inu. However, with different trends such as artificial intelligence ($AI ), RWA (real world assets) or DePin coming to the forefront, memecoins taking a backseat could push the SHIB price to lower levels.

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