Takeoff for Shiba Inu? Analyst foresees 10-fold increase in annual peak
Shiba Inu (SHIB), the memecoin, is back in the spotlight after a crypto expert predicted a tenfold market value increase.
Zach Humphries suggested many factors that might boost SHIB's market valuation to $100 billion and price to $0.000171, a 890% rise.
Humphries, known for his memecoin market analysis, thinks SHIB might rise despite its low price.
Humphries' latest analysis focuses on SHIB's core assets. Its brand strength, dedicated community, and probable return of retail investors prepared to take another memecoin risk are among these.
Community Support & Brand Power
Humphries feels SHIB's strong brand awareness boosts its appeal. Due to its devoted following, Shiba Inu has become a memecoin icon.
After the 2021 event, SHIB supporters stayed involved, keeping the group relevant in a competitive field. Humphries believes SHIB's brand power and meme token market standing give it an edge against newer coins.
Humphries also observes that in the unpredictable cryptocurrency market, a well-known token like Shiba Inu may seem safer for first-time investors. If the cryptocurrency market improves, SHIB's price and reputation may rise. This investment boom might help SHIB reach its $100 billion objective, says Humphries.
Together with Humphries, analyst “World Of Charts” predicted technical trends. SHIB broke out, implying a 200% advance that might send it closer to annual highs. SHIB's comeback to $0.00001784 gives traders optimism.
World Of Charts currently views SHIB's breakthrough above the main resistance trendline as another growth catalyst. If the breakout holds, SHIB will rise again with this descending expanding wedge formation.
Hit the Target, Shiba Inu?
Humphries and World Of Charts portray a positive image but foresee problems. A $100 billion market value is overly ambitious for a memecoin and requires sustained growth.
