Changelly, a cryptocurrency exchange, has provided bullish price forecasts for Shiba Inu (SHIB); several fundamentals that paint a favorable picture of the meme coin were also emphasized by the crypto exchange
The Shiba Inu is expected to increase in value to $0.00002495. Changelly predicted in a blog post that Shib Inu will experience a price increase of just over 40% from its current price level and rise to $0.00002495 by July 1. This is a component of the crypto exchange’s optimistic outlook for the meme coin this year, as they anticipate that Shiba Inu will reach $0.0000389961 by the end of the year.
Intriguingly, Changelly made these bullish predictions even though Shiba Inu is presently experiencing a bearish market sentiment. Nevertheless, they think that the meme coin has the potential to continue to experience a robust upward trend, citing its recent “very strong potential.”
The crypto exchange also referenced SHIB’s fundamentals as one of the reasons they are optimistic about the meme coin. Changelly observed that the developers of Shiba Inu are “attempting to address significant, real-world issues.”
The blog post also emphasized Shiba Inu’s progress toward becoming a “full-fledged” decentralized ecosystem, where the community has complete authority to administer the network without the presence of a centralized governing body.
In the interim, Changelly reported that the SHIB coin’s market sentiment is “pretty positive” despite its recent decline. Shibarium was identified as a “key factor” by the crypto exchange, which has caused a significant amount of enthusiasm among Shiba Inu investors.
The layer-2 network has become a critical component of the SHIB ecosystem and offers significant utility to the meme coin, potentially contributing to future price increases.
Changelly also asserted that Shiba Inu has the “distinct advantage of a large, dedicated, and passionate community.” The Shiba Inu community, renowned as the “SHIB Army,” has unquestionably contributed significantly to Shiba Inu’s ascent to prominence. Changelly thinks that they can also assist in establishing Shibarium as one of the top Ethereum layer-2 networks.
SHIB’s Journey to a New All-Time High
Javon Marks, a crypto analyst, recently emphasized the potential for Shiba Inu to achieve a new all-time high (ATH). He predicted that SHIB would soon experience a parabolic rise to $0.000081, as the meme coin has increased by over 100% since emerging from a resisting trend, as the chart indicates.
Marks asserted that a price increase of over 200% is feasible and that the recent retreat may facilitate such a breakout. Specifically, a rise to $0.000081 would represent just such an increase. He also stated that Shiba Inu could reach $0.0001553, a new all-time high for the second-largest meme coin by market cap if it were to break or hold above $0.000081.