Main reasons for a possible 50% increase in Shiba Inu (SHIB)
Unexpectedly, analysts are predicting Shiba Inu (SHIB) to have a whopping 50% upside. SHIB is currently trading around $0.000013, and there are several factors that could drive a price breakout.
According to the roadmap, a team led by Shitoshi Kusama announced at the Blockchain Futurist Conference 2024 a new super app called ShibHub that centralizes the SHIB ecosystem.
ShibHub includes asset management, staking, DeFi tools, an NFT marketplace, and games based on a play-to-earn model. These elements could have a positive impact on SHIB's price and lead to token growth.
In addition, Shiba Inu developers are partnering with the International Indian Film Academy, which will bring SHIB to 800 million viewers worldwide.
To top it all, the Shiba Inu team is launching a Treat management token through which community members will influence the future of the project.
Analysts see SHIB's position in the market as promising.
Analyst Spetsnaz noticed a potential trendline breakout, which if successful would signal a bullish reversal.
Despite SHIB's outlined prospects, traders should consider the volatility of the market. Cryptocurrency prices fluctuate wildly, and this comes with risks. For this reason, investors should do their own research before spending their money.
