Zach Humphries, Cryptocurrency Analyst made a bullish case for Shiba Inu (SHIB), predicting that the crypto token could reach as high as $0.00014 in this market cycleThe analyst also cautioned against having too many expectations for the meme currency, suggesting that it is unlikely to have the kind of run it has had in 2021.
Shiba Inu Price Could Hit $0.00014
Zach Humphries mentioned in a video on his YouTube channel that Shiba Inu can “definitely” enjoy a 10x increase from its current price level, meaning it can reach a new historical record (ATH) from $0.00014 in this bullfight. An increase to such a price level also means that Shiba Inu will be close to reaching a market cap of $100 billion, which the crypto analyst believes is also possible.
The crypto analyst added that this Shiba Inu price hike will happen as long as the cryptocurrency market experiences another altcoin seasonHe further noted that this altcoin season will largely depend on Ethereum and the second-largest crypto by market cap will need to reach new highs for Shiba Inu to also make headway.
Zach claimed that SHIB is the largest ERC-20 coin. As such, it only second largest meme coin by market cap, prices are seeing a significant surge as Ethereum makes its way during altcoin season. This isn’t the first time Zach has made such an ultra-bullish price prediction for Shiba Inu. Back in June, he mentioned that the meme currency will reach a market capitalization of $100 billion during this market cycle.
Meanwhile, other cryptocurrency analysts, like Oscar Ramos, also predicted that Shiba Inu would knock another zero off its current price. Ramos previously said that the meme coin could reach $0.0001, while Javon Marks predicted that Shiba Inu could reach $0.0001553.
SHIB unlikely to replicate 2021 bull run
Despite its optimistic forecasts for Shiba InuZach warned that the days of the meme coin seeing massive gains in a matter of weeks are long gone, suggesting that the meme coin cannot replicate its 2021 bull run. Shiba Inu saw a price gain of 157 million percent during the 2021 bull run, with its price continuing to surge for weeks before reaching an ATH of $0.00008845 in October 2021.
The crypto analyst noted that Shiba Inu Investors and potentials need to be “realistic” about their expectations of the meme coin’s potential gains. Zach noted that unlike in 2021, SHIB has now become one of the top cryptos by market cap with a multi-billion dollar market cap. As such, he suggested that the meme coin now has less room to move higher. With this in mind, the crypto analyst cautioned investors against listening to those who say Shiba Inu can run at $0.01 or even $1.
Featured image created with Dall.E, chart by Tradingview.com
