Cash News
Crypto analyst Zach Humphries has made a bullish case for Shiba Inu (SHIB), predicting that the crypto token could rise to as high as $0.00014 in this market cycle. The analyst also warned against having too many expectations from the meme coin, suggesting that it is unlikely to have the kind of run it did in 2021.
Shiba Inu Could Rise To As High As $0.00014
Zach Humphries mentioned in a video on his YouTube channel that Shiba Inu can “definitely” enjoy a 10x run from its current price level, meaning that it can reach a new all-time high (ATH) of $0.00014 in this bull run. A rise to such a price level also means that Shiba Inu will come close to hitting a $100 billion market cap, which the crypto analyst also noted is possible.
The crypto analyst added that this price rally from Shiba Inu will happen as long as the crypto market witnesses another altcoin season. He further remarked that this altcoin season will largely hinge on Ethereum and that the second largest crypto by market cap will need to reach new highs for Shiba Inu also to make its run.
Zach asserted that SHIB is the biggest ERC-20 coin. As such, it only makes that the second-largest meme coin by market cap witnesses a significant price rally as Ethereum makes its move during the altcoin season. This isn’t the first time that Zach has laid such an ultra-bullish price prediction for Shiba Inu. In June, he mentioned that the meme coin will reach a $100 billion market cap in this market cycle.
Meanwhile, other crypto analysts, like Oscar Ramos, have also predicted that Shiba Inu will delete another zero from its current price. Ramos previously stated that the meme coin could rise to $0.0001, while Javon Marks predicted that Shiba Inu could surge to as high as $0.0001553.
SHIB Unlikely To Replicate Its 2021 Bull Run
Despite his bullish prediction for Shiba InuZach warned that the meme coin’s days of recording massive gains in weeks are long gone, suggesting that the meme coin cannot replicate its 2021 bull run. Shiba Inu recorded a price gain of 157 million percent in the 2021 bull run, as its price continued to skyrocket for weeks before reaching an ATH of $0.00008845 in October 2021.
The crypto analyst remarked that Shiba Inu’s investors and potential ones must be “realistic” about their expectations for potential gains from the meme coin. Zach noted that unlike in 2021, SHIB has now become among the top cryptos by market cap with a multi-billion dollar market cap. As such, he suggested that the meme coin has less room now to run to the upside. In line with this, the crypto analyst warned investors about listening to those who say Shiba Inu can run to $0.01 or even $1.
Featured image created with Dall.E, chart from Tradingview.com