Forbes Predicts 1,700% Shiba Inu Coin Price Rally

Meme Coins Price Prediction SHIB
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Last updated:
Ad Disclosure
Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Author
Author
Simon Chandler
About Author

Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

The price of Shiba Inu has jumped by 2% in the past 24 hours, moving to $0.00001853 as the crypto market remains flat today.

SHIB ascent comes after business media brand Forbes published a prediction article in which highlighted $0.0003 as the highest target price the meme token could reach in the 2024-25 period, which is in line with CryptoNews price prediction for Shiba Inu as well.

This would make for a roughly 1,700% gain over its current price, which itself represents a 13% gain over where Shiba Inu was a week ago, although the coin is down by 10% in a month.

But with the wider market beginning to recover a little this week, SHIB could be about to begin a more bullish period.

Forbes Predicts 1,700% Shiba Inu Coin Price Rally

After rallying hard overnight, SHIB has actually come down this morning, with the coin down by 1.5% in an hour.

Its indicators reflect this drop, revealing a decline in momentum and buying pressure that could last for a day or so before we see an improvement.

For instance, its relative strength index (purple) has dropped from an overbought 80 last night to just under 50, although its angle of fall has softened in the past hour.

Shiba Inu price chart.
Source: TradingView

Likewise, its 30-day average (orange) had been rising healthily above the 200-day (blue), yet it has recently flattened out, suggesting that a decline may be coming over the next few days.

A couple of positive points, however, is that Shiba Inu’s 24-hour trading volume has risen to $700 million in the past couple of days, with its rise from $200 million showing an increase in interest.

On top of this, the medium- and long-term picture for SHIB apparently looks pretty good, with Forbes turning heads after predicting an upper-range price target of $0.0003 for the meme token.

Traders should keep in mind that this is a best-case scenario prediction for the end of 2025, and that an average prediction (taken from Changelly data) for SHIB is $0.0000173 for the end of December 2024.

As such, most investors should set their sights a little more modestly, even if SHIB looks like it’s ready to climb more consistently over the second half of the year.

It’s looking forward to the development and launch of its own layer-three network, a platform that underlines its fundamentals.

And based on its utility and momentum, it could return to $0.00003 in the next few months.

Newer Shiba Inu Meme Coins May Perform Better

SHIB unsurprisingly continues to attract attention as one of the biggest meme coins in the market, yet it won’t be the only Shiba Inu-themed meme token to do some damage this year.

There’s also a selection of very promising newer meme tokens, with some of these holding increasingly popular presales that have been helping them gain pre-listing momentum.

One of these is Shiba Shootout (SHIBASHOOT), a new Ethereum-based coin that has already raised over $600,000 in its recently opened ICO.

What’s exciting about Shiba Shootout is that it’s mixing ever-popular Shiba Inu memes with Wild West themes and motifs.

It’s planning to grow a community centered around shared participation in various mini-games and contests, including poker tournaments and virtual treasure hunts.

Other features include lotteries and community stories and forums, all of which will help strengthen loyalty and engagement amongst holders.

SHIBASHOOT will have a max supply of 2.2 billion tokens, with 35% of this going to its presale and 20% going to staking.

Staking will be another incentive to holding the coin, and combined with its cap it could help squeeze SHIBASHOOT’s price upwards over time.

Interested traders can get involved by heading to the official Shiba Shootout website, where 1 SHIBASHOOT token costs $0.0196.

This will rise by another $0.0001 in just under a week, although it could surge much higher once the token lists later in the year.

Buy SHIBASHOOT Now

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

More Articles

Bitcoin News
BTC-e Operator Alexander Vinnik Returned to Russia in US Prisoner Swap
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-14 10:18:16
Altcoin News
Coinbase CEO Brian Armstrong Predicts 10% of Global GDP Will Be Crypto-Based by 2030
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-14 09:45:51
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors