Shiba Inu is currently trading at $0.000013, with four zeros on the chart. This month, the dog-themed token has mostly traded sideways, with few price surges. The last time SHIB surged in value was in March this year, when it surged 280% in a month.
The rise in Bitcoin prices comes after the Bitcoin halving event, which coincides with the launch of a Bitcoin ETF. It has been six months since Bitcoin rose in the index, and the development is testing investors’ patience.
However, leading cryptocurrency analyst Krao shared a chart on TradingView and predicted that Shiba Inu’s current price is consolidating. The analyst predicted that when the consolidation phase ends, SHIB could rise and delete two zeros.
Shiba Inu: SHIB is expected to reach $0.001 in the first quarter of 2025
Cryptocurrency analyst Krao predicts that Shiba Inu is about to see a price breakout. The analyst gave a tentative timeline with a target price of $0.001, which is January to February 2025. There are still four to five months from today, so it can be considered a short-term holding.
If the forecast is accurate during January-February 2025, $1,000 invested today could turn into $77,000. However, given the state of global markets, a 7,600% increase in the next four to five months seems unlikely. The Shiba Inu price would need to increase by at least 1,500% per month over the next five months.
There was no guarantee that SHIB could surge so much in such a short period of time. The market was volatile and both ways for investors to suffer losses were cut off.
It is recommended to do a thorough research before investing in a coin. Cryptocurrencies not only go up, but they also tend to go down and lose all their previous gains.
