- The Shiba Inu community anticipates a new all-time high despite challenges in October, including long liquidations and geopolitical tensions.
- Analysts predict SHIB could reach significant price targets, with projections ranging from $0.00017 to $0.00023179 in the next bull market.
The Shiba Inu (SHIB) community recently expressed excitement over the prospect of the token reaching a new all-time high (ATH) despite a challenging market environment in October. Several factors have contributed to a downturn in the crypto sector, dampening investor expectations for significant rallies.
October has not been able to deliver the expected big returns on various cryptocurrencies, including Shiba Inu. The market has been under pressure from longer liquidations and rising geopolitical risk, especially in the Middle East. These problems have led to a fall in the overall performance of the crypto market.
Since the beginning of October, Shiba Inu has been on the decline. The token hit its highest point at $0.00002156 on September 27 but has fallen by 23.56% and is now trading at around $0.00001648. Additionally, SHIB has dropped by 12% in a week. However, there is still hope among many in the SHIB community that the much-awaited new ATH for SHIB will still be possible in the upcoming 2024/2025 market cycle.
Community Engagement Around New ATH
In light of these discussions, the Shiba Inu ecosystem team recently engaged with its supporters on X. They posed an intriguing question: “When SHIB hits a new high, I’m going to _______.” This message encourages community members to share their aspirations when SHIB reaches a new price peak. Some users mentioned planning a vacation, while others were thinking about the retirement period. Some of them wanted to buy more SHIB tokens or luxury items such as Lamborghini cars.
Community figures, including JD, the founder of PawZone, have echoed the sentiment of optimism. JD has promised to remind everyone of their predictions regarding SHIB’s potential new ATH, welcoming new members to the community along the way.
According to data, Shiba Inu’s last ATH occurred on October 28, 2021, when the token peaked at $0.00008616. Currently, SHIB’s price is approximately 80.7% lower than that peak, highlighting the significant volatility in the market.
Expert Predictions for Shiba Inu’s Future
Several analysts and market observers remain bullish about Shiba Inu’s potential to reach a new ATH. They believe that continued growth in the Shiba Inu ecosystem, including the growth in Shibarium’s TVL and higher token burn rates, could help attract investor attention to the token.
In August, famous market analyst Alan Santana set a new ATH target of $0.00023179 for Shiba Inu during the next bull run, which, according to him, may happen by 2025. This projection would demand a significant rise of 1,306% from the present price. However, analyst Oscar Ramos has suggested that SHIB may hit another ATH of $0.00017 in the next year, which will be quite a jump of 931.55% from the current price.
Top trader Dexter has also spoken up, and based on his analysis, Shiba Inu could go between $0.000089 and $0.00015 within the next couple of months. However, the potential for SHIB to reach a new all-time high before the end of the 2024/2025 market cycle is still unknown.
