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Shiba Inu drops but analysts stay optimistic

Shiba Inu has experienced a massive price correction in the past few weeks. Data from CoinMarketCap shows the Shiba Inu price has dropped by 16.8% on the weekly timeframe. The losses have also extended to the biweekly and monthly levels where there are price drops of 23.0% and 3.1%.

The meme coin’s value is consolidating between $0.00002364 and $0.00002887 on the weekly level. Despite the decline, analysts maintain a bullish stance on the Shiba Inu crypto. Crypto Sheriff believes that SHIB’s price could rise above its current record high of $0.00008654 this cycle.

Also, another analyst CryptoELITES has cited a cup and handle formation on the weekly chart. According to him, a potential breakout could push the Shiba Inu price USD to $0.0004729. Such a rally would erase a zero from the current value of the token.

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🚨 JUST IN: France’s 5th largest bank, BPCE Group, with €863 billion in assets, is set to offer Bitcoin and crypto purchases to its 35 million customers in 2025.

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🐶 Shiba Inu (SHIB) Price Timeline

From an all-time low of just $0.000013 in August to a current value of $0.000029, SHIB has seen tremendous growth over a span of 3 months and recorded huge gains of over 130%. Although SHIB is expected to rise further, it may be slow. It could see slow and steady increases, eventually hitting $0.0001 between 2025 and 2026. Strong adoption, token burns, and a favorable market environment will drive this increase. The token burn mechanism has been quite effective. However, it will still take more effort to see significant results. Recently, 17 million SHIB tokens were burned in 24 hours. This reiterates the SHIB community’s commitment to reducing supply and boosting value.

Predictions for SHIB’s rise to $0.001 and $0.01 are more ambitious, requiring increases of over 3,500% and 36,600%, respectively. These targets also depend on massive token burns and significant institutional adoption. Changelly estimates SHIB could reach $0.001 by 2033, while the one-cent dream might not materialize until 2040 or beyond.

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