Well-known shiba-inu community figure Lola is making a bold statement about investors' year-end target price for $SHIB
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In a tweet yesterday, Lola stated that SHIBArmy, members of the shiba-inu community, expect the price of #SHIB، to go even higher, surpassing its previous all-time high (ATH).
She made the announcement in response to an article titled “Will the Shiba Inu Price Reach ATH [an all-time high] before the end of the year?” The article predicted that significant whale transactions, strong demand and an efficient burning mechanism could drive the price of shiba inu to a new all-time high by the end of the year.
Why SHIBArmy wants a higher ATH for SHIB
SHIB recorded its previous peak price on October 28, 2021, when it rose to $0.000088845. However, since then, the token has fallen a lot. At its current price of $0.00001684, SHIB SHIB has fallen by 80.91% of its ATH.
While some members of the community expect SHIB to reach a new high this year, others, like Lola, consider this prediction too modest.
Notably, Lola emphasized that members of the Shiba Inu community want the SHIB to rise above its all-time high. This suggests that community members have high expectations for the SHIB and are hoping for higher price milestones. However, Lola did not specify a target for her forecast.
Recent performance of the siba inu
Shiba Inu has struggled to register any significant price gains since it hit a yearly high of $0.000045 in March. Several factors, including geopolitical tensions and macroeconomic activity, have negatively impacted SHIB performance this year.
Nevertheless, Shiba Inu is still up 63.3% year-to-date (YTD) and 117.38% over one year. In contrast, SHIB is down 0.66% in 24 hours, 11.98% in one week, and 18.07% in the last month.
Despite this, many market analysts remain optimistic about SHIB's prospects, with some predicting that the token will register a new ATH before the end of the 2024/2025 market cycle.
In August, popular TradingView analyst Alan Santana predicted that the Shiba Inu could grow to an ATH of $0.00023179 by next year. Earlier this month, the analyst revised his target, predicting that SHIB would record an ATH of $0.00013994 by the second half of 2025.
He then suggested that the token would reach a peak price of $0.00022321 before the end of the bull cycle.
It remains to be seen whether SHIB will reach any of these targets in this cycle, but it's worth noting that the Shiba Inu ecosystem has seen some positive updates recently.
These updates include the launch of ShibaSwap 2.0 and increased Shibarium activity. Developments could increase SHIB burn, potentially increasing the value of remaining tokens.
