Shiba Inu (SHIB) Investors have received a big dose of reality as cryptocurrency analysts issue a more cautious and pessimistic outlook on the meme coin’s price. While they are still confident in Shiba Inu Long term upside potentialThe analyst urged investors to moderate their expectations, warning that a dramatic rise in prices would occur. It is unlikely to happen soon.
The days of explosive Shiba Inu price increases are over
In a recent YouTube videoCryptocurrency analyst Zach Humphries gave a sobering update to Shiba Inu investors, emphasizing the truth about the Meme Coin Price OutlookHumphries revealed that his message was to enlighten and inform all Shiba Inu investors, including people interested in participating in The SHIB ecosystem One way or another.
The analyst shared that many in the crypto community expect Shiba Inu to experience a Powerful bull run The length of this period is between 8 and 12 months, and could possibly extend to 15 months. While Humphries agrees that Shiba Inu will outperform the market over time, the analyst warned that this major uptrend will not happen immediately.
In his video, Humphries stated that The era of the rising Shiba Inu by thousands of percentage points in a matter of weeks or months. He based this prediction on SHIB’s impressive growth over the yearsnoting that the meme coin has become a multi-trillion dollar asset and now ranks as the 15th largest cryptocurrency. In light of this, Humphries has advised investors to temper their expectations and take a more realistic view of potential gains.
The cryptocurrency analyst revealed that there was still growth potential for Shiba Inu in the short and long term. However, he cast doubt on the likelihood of the meme coin reaching $0.1 in the near future. He compared the idea of Shiba Inu Suddenly Goes Up To $1 in the face of the unlikelihood of XRP rising to $1,000, emphatically stating: “that’s not going to happen.”
It is important to note that at the time of writing this article, the price of Shiba Inu is trading at $0.000012, while the value of XRP is $0.52, according to CoinMarketCap.
While Humphries doesn’t foresee SHIB hitting $1, he is optimistic that the cryptocurrency could potentially achieve a 10x rally in this cycle and set new all-time highs. He also predicts Shiba Inu Market Cap reaching 100 billion dollars, provided there is a altcoin seasonHowever, these bullish outlooks for the future are largely dependent on favorable price movements and positive momentum from Ethereum (ETH).
Finally, Humphries has advised investors to avoid being driven by emotions when investing in highly speculative assets such as cryptocurrencies. As a meme coin, Shiba Inu is highly influenced by social sentiment and speculation, so making investment decisions based on emotions could lead to unnecessary losses.
SHIB price increase is linked to the burning mechanism
During his video, Humphries revealed that the development of a Shibarium burning mechanism could have a significant and positive impact on the price of SHIB. The analyst revealed that numerous retail investors have consistently called for a SHIB burn, as this would greatly reduce the overall supply of the token and potentially Cause a price increase.
Featured image created with Dall.E, chart from Tradingview.com
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