Markets
The cryptocurrency exchange expects a price increase for Shiba Inu amid positive market sentiment
Changelly cryptocurrency exchange has outlined his bullish price predictions for Shiba Inu (SHIB). The cryptocurrency exchange also highlighted several fundamentals that paint a bullish picture for the meme coin.
Shiba Inu will rise to $0.00002495 by July
Expected differently 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 1st. This is part of their bullish expectations for the meme coin this year, with the cryptocurrency exchange predicting that Shiba Inu could rise to $0.0000389961 by the end of the year.
Interestingly, Changelly made these bullish predictions despite noting that the Shiba Inu is currently experiencing a crisis bearish market sentiment. Despite this, they believe that the meme coin can still enjoy a strong upward trend, noting that the meme coin has shown “very strong potential” lately.
The cryptocurrency exchange further alluded to SHIB’s fundamentals as part of the reasons they are bullish on the meme coin. Changelly noted how The developers of Shiba Inu they are “aiming to solve serious, real problems.” The blog post also highlighted how Shiba Inu is preparing to become a “full-fledged” decentralized ecosystem with the community having 100% of the rights to manage the network without a centralized governing body.
Meanwhile, Changelly said that overall market sentiment for the SHIB coin is “quite positive” despite its recent bearish trend. The cryptocurrency exchange mentioned Shibarium as a “key factor” that is generating a lot of excitement for Shiba Inu investors. The layer 2 network has become an integral part of the SHIB ecosystem and provides great utility for the meme coin, which could contribute to future price increases.
Changelly also said that Shiba Inu has the “obvious advantage of a large, dedicated and passionate community.” The Shiba Inu community, famously known as the “SHIB Army,” has undoubtedly played a significant role in Shiba Inu’s rise to prominence, and Changelly believes it can also help position Shibarium as one of Ethereum’s leading layer-2 networks.
SHIB’s road to a new all-time high
Crypto analyst Javon Marks recently highlighted as Shiba Inu could reach a new all-time high (ATH). She stated it SHIB could soon experience a parabolic rise to $0.000081, considering that the meme coin is still up more than 100% since breaking out of a resistance trend, as highlighted on the chart.
A rise to $0.000081 represents a price increase of over 200%, which Marks believes is possible and that the recent pullback could contribute to such a breakout. He further stated that a break or hold above $0.000081 could send Shiba Inu to $0.0001553, a new ATH for the the second largest meme coin by market capitalization.
Featured image created with Dall.E, chart from Tradingview.com