Finance experts predict SHIB price for start of 2024
The post Finance experts predict SHIB price for start of 2024 appeared on BitcoinEthereumNews.com.
As the week has started on a bullish note in the cryptocurrency market, dog meme digital asset Shiba Inu (SHIB) is no exception, breaking its negative streak with a modest daily gain, and finance experts have varying views on its expected price for the beginning of 2024. Specifically, two finance experts have shared their professional views of Shiba Inu, as well as their insights on its potential price movements at the start of the new year, including Andrew Lokenauth, the founder of TheFinanceNewsletter.com and Krishna Rungta, the founder of Guru99, on October 14. Andrew Lokenauth, founder of TheFinanceNewsletter.com As it happens, Lokenauth views Shiba Inu as a “purely speculative asset” with “no underlying value or utility” and which “lacks real-world use cases beyond trading and speculation.” Additionally, he has criticized the “poor transparency and communication” of its developers, as well as the “limited ecosystem compared to other major cryptocurrencies,” which all make it “vulnerable to volatility.” On top of that, the experienced investor argued that Shiba Inu “competes with other dog-themed meme coins,” including the famed Dogecoin (DOGE). With this in mind, he predicts SHIB will “likely continue declining” in the absence of major catalysts and in the face of the bear market “eating into speculative assets,” setting the price of Shiba Inu at $0.000005 at the start of 2024. Krishna Rungta, founder of Guru99 At the same time, Rungta noted that the launch of the highly anticipated layer 2 blockchain Shibarium has failed to produce a major effect on the price of Shiba Inu, adding that this illustrates the complicated nature of the crypto market in general. As he explained: “In SHIB’s case, the Shibarium upgrade, while highly anticipated, didn’t have the immediate impact on price some had hoped for. This highlights the complexity of crypto markets, where even…
Filed under: News - @ October 16, 2023 10:10 am