Shiba Inu [SHIB] continues to maintain its position as the second largest memecoin in the world by market cap. The asset has shown impressive resilience and potential for future growth. In the past 24 hours, SHIB has surged 5.75% on speculation surrounding the potential approval of the first spot Ethereum ETF.
The rally pushed SHIB’s value past the $0.000025 threshold. Despite a 6% drop over the past 30 days, SHIB has gained more than 5% over the past two weeks, raising questions about its future price trajectory.
At press time, SHIB is valued at $0.00002642, marking a notable daily gain of 10%. This upward momentum has sparked new interest and speculation in the crypto community about SHIB’s long-term prospects.
Adding fuel to the speculation is market analysis and forecasts by Telegaon, a well-respected source of market insights. They have been predicting that by 2040, the price of Shiba Inn might touch $0.035 or 3.5 cents.
Shiba Inu: Short-term and long-term forecasts
Telegaon’s short-term forecast suggests that SHIB could achieve a minimum price of $0.0000421 by the end of this year, nearly doubling its current valuation. Looking ahead, Telegaon predicts a peak price of $0.0000601 in 2024, with an average trading price of around $0.0000567 for the year. These forecasts suggest a steady upward trend in the market, in line with broader market optimism.
Meanwhile, the long-term forecast for SHIB is particularly ambitious. They predict that SHIB could reach a peak price of $0.089 between 2024 and 2040. This massive growth is expected to occur in stages, with important milestones expected between 2030 and 2040.
According to Telegaon, the path to $0.035 by 2040 is plausible. It is driven by factors such as increased adoption, technological advancements, and overall market growth.
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