The recent approval of nine Ethereum exchange-traded funds (ETFs) has given room to multiple predictions suggesting that Ethereum’s (ETH) price could reach unprecedented levels.
Analysts from crypto trading company Changelly predict that ETH will hit a target of $100,000 by June 2033, with a maximum price of $101,231 and an average price of $86,007. To achieve this target, ETH must rally 3218% from its current price of $3,013.5.
SHIB Likely Price It Follows ETH Price Action
Given Ethereum’s optimistic outlook, market watchers expect a similar positive impact on the broader crypto market, particularly Shiba Inu (SHIB). The performance of leading assets like Ethereum typically influences the market price action, including SHIB.
Data from IntoTheBlock shows that SHIB has a 78% correlation with ETH over the past 30 days, indicating a comparable rise in price if ETH experiences a significant surge.
If Shiba Inu witnesses a 3,218% increase as ETH, its price could spike from $0.00001469 to $0.0004871, marking a new all-time high and putting its market capitalization at $311 billion.
Expert Predictions for Shiba Inu (SHIB)
Interestingly, some market analysts predict that Shiba Inu will rise to around $0.0005 someday. Google Bard (now Gemini) predicted that SHIB would hit this threshold between 2025 and 2026, while Changelly experts project that Shiba Inu will not reach this target until 2033.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Current Market Performance
Shiba Inu is currently down 62.4% from its yearly high of $0.000045, registered on March 5, 2024, and down 80.89% from its all-time high of $0.00008845. Despite this plunge, market analysts still believe Shiba Inu has potential for significant growth, with Big Mike projecting a surge to the ambitious $0.0005 threshold.
In conclusion, Shiba Inu’s correlated rise with Ethereum could lead to a significant surge in its price if ETH reaches the projected $100,000 target. With a potential price target of $0.0004871 and a market capitalization of $311.57 billion, Shiba Inu investors may be in for a treat in the coming years.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on Twitter, Facebook, Telegram, and Google News
