Shiba Inu (SHIB) boasts one of the most dedicated and loyal fan bases within the cryptocurrency realm. Despite its considerable popularity, SHIB’s price has not taken center stage in 2023. Since January, the token has witnessed a modest growth of approximately 19%. In contrast, Bitcoin (BTC) has seen a surge of around 150%, and Solana (SOL) has experienced a remarkable increase of over 500% during the same period. It’s important to note that Shiba Inu (SHIB) is not the only one facing challenges this year, as other memecoins like Dogecoin (DOGE) have also exhibited lackluster performance in 2023.
Nevertheless, some analysts are optimistic about a potential bull run in the cryptocurrency market in the coming year. Firstly, Bitcoin (BTC) is set to undergo its next halving cycle in April 2024. Secondly, there is a significant likelihood that the US Securities and Exchange Commission (SEC) will approve one or more spot Bitcoin Exchange Traded Funds (ETFs). The approval of these developments could act as catalysts, potentially propelling the cryptocurrency market into a bull run reminiscent of 2021. If such a rally occurs, Shiba Inu (SHIB) may also follow suit and achieve a new all-time high.
Estimating the Highs for Shiba Inu’s Price in 2024
According to insights from the ChatGPT AI (Artificial Intelligence) chatbot, Shiba Inu (SHIB) might experience a surge to $0.00001357 by the start of 2024, reflecting a growth of approximately 29% from its current levels. Analysts at Changelly offer a slightly different perspective, suggesting that Shiba Inu (SHIB) could attain a peak price of $0.0000169983 in 2024, indicating an increase of around 43% from current levels. However, Changelly also envisions a lower limit of $0.0000139986, which would represent a growth of about 31% from existing prices.
Contrastingly, Telegaon anticipates a maximum price of $0.0000571 for SHIB in 2024, signaling a potential growth of approximately 83% from its current levels. Nevertheless, the platform also projects a lower limit of $0.0000221, reflecting a growth of around 56% from the current prices.