Long-term price predictions for Shiba Inu (SHIB) have become increasingly bullish following a significant pump in late February to early March, during which it increased more than 4x and surpassed the market cap of Bitcoin Cash (BCH). Currently priced at $0.0000269 with a market cap of around $16 billion, SHIB has pulled back 40% from its March highs but remains up 2.5x for the year. This surge in meme coin risk appetite was triggered by Bitcoin hitting all-time highs in March, reaching nearly $74,000 after the approval of spot Bitcoin ETFs in the US earlier in the year. Despite Bitcoin’s resurgence, SHIB still has room for growth as it remains down 70% from its 2021 peak, suggesting potential for 3x gains during this bull market.
The possibility of SHIB reaching $1 is contingent on the team’s decision to adjust the total supply by reducing zeros. At the current price of $0.000027, SHIB would need to increase approximately 40,000 times to reach $1, resulting in an implausible market cap of $640 trillion. Given the astronomical valuation required, achieving $1 for SHIB seems highly unlikely, as it would surpass the total value of all assets on the planet. A technical analysis of the SHIB chart indicates a potential retest of mid-March lows around the $0.000024 level, which serves as a strong support zone with the 50-day moving average also playing a role. If SHIB can find solid support at this level, it may break its recent downtrend and retest recent highs in the $0.000045 range.
As SHIB’s market cap has already reached a significant size, its capacity to provide substantial gains to investors is limited. In response, investors may consider alternative meme coins such as Dogecoin20, a new iteration of the popular Dogecoin meme beloved by Elon Musk. Dogecoin20, based on Ethereum, recently launched in presale with a staking feature that allows investors to generate a passive income of around 65%. With over $10 million raised in presale and a current price of $0.00022, investors can participate in the project at a discounted valuation of under $30 million. Dogecoin20 presents an opportunity for significant growth potential, with the possibility of increasing 10x to over $300 million or even 100x to above $3 billion. Investors are encouraged to act swiftly before the presale concludes in 17 days to secure their tokens and capitalize on the potential gains.
Cryptonews analyst Ari has identified Dogecoin20 as one of his top cryptocurrency picks at the moment, highlighting its promising prospects for investors. The project has garnered significant attention for its ties to the popular Dogecoin meme and its unique staking feature, attracting investors keen on capitalizing on potential gains. With a growing interest in meme coins and alternative cryptocurrencies, Dogecoin20 presents a compelling opportunity for investors looking to diversify their portfolios and benefit from the growth potential in the cryptocurrency market.
