Crypto Analyst Reveals Why Shiba Inu Price Will Not Reach $1
The post Crypto Analyst Reveals Why Shiba Inu Price Will Not Reach $1 appeared on BitcoinEthereumNews.com.
Despite witnessing recent price increases and moving forward with ongoing developmental projects in its ecosystem, cryptocurrency analyst Zack Humphries has declared that SHIB, the native token of the Shiba Inu ecosystem, will not “reach $1 anytime soon.” Why Shiba Inu Will Not Hit $1 In a recent YouTube video, Humphries provided a compelling reason for why he believes that the price of SHIB will not reach the $1 milestone in the near future. The crypto analyst’s controversial statement is rooted in the belief that SHIB hitting $1, would position it as the most valuable cryptocurrency asset and the largest company by market capitalization. Adding weight to his argument, Humphries pointed out the unparalleled value of Bitcoin in the digital asset market and the dominance of Apple Inc. as the world’s largest company by market capitalization. These formidable benchmarks make SHIB’s ascent to $1 an almost impossible task, as it would have to surpass not only Bitcoin in the cryptocurrency landscape but also compete with established tech giants like Apple. Humphries has labelled any predictions and expectations of SHIB surging to $1 in 2024 as “garbage.” At the time of writing, the cryptocurrency is trading at a price of $0.0000098, reflecting a 5.64% increase in the past seven days, according to CoinMarketCap. The highest price Shiba Inu has been able to achieve since its inception is $0.000086 in October 2021. Following this all-time high, the cryptocurrency has struggled to achieve a significant price increase despite its rapidly developing ecosystem. SHIB’s Recent Price Performance Lately, Shiba Inu has been witnessing steady gains, capturing the attention of major long-term holder investors. A massive shift in whale movements was recorded in the last few days, with over 2,500% surge in large holder inflows. Additionally, in the past week, Shiba Inu has displayed strong signs…
Filed under: News - @ February 19, 2024 11:26 pm