Shiba Inu (SHIB) investors have been given a major reality check as crypto analysts issue a more cautious and pessimistic outlook for the meme coin’s price. While still confident in Shiba Inu’s long-term bullish potential, the analyst urged investors to temper their expectations, warning them that a dramatic price spike would be unlikely anytime soon.
Shiba Inu Days Of Explosive Price Increases Are Over
In a recent YouTube video, crypto analyst, Zach Humphries gave a sobering update to Shiba Inu investors, emphasizing the truth about the meme coin’s price outlook. Humphries disclosed that his message was to enlighten and inform all Shiba Inu investors, including individuals interested in participating in SHIB’s ecosystem in one way or the other.
The analyst shared that many in the crypto community expect Shiba Inu to experience a powerful bull run lasting 8 to 12 months, possibly extending to 15 months. While Humphries agrees that Shiba Inu will eventually outperform the market in time, the analyst cautioned that this massive bull run will not occur immediately.
In his video, Humphries declared that Shiba Inu’s era of skyrocketing by thousands of percentage points within weeks or months is over. He based this prediction on SHIB’s impressive growth over the years, noting that the meme coin has evolved into a multi-billion dollar asset and now ranks as the 15th largest cryptocurrency. Given this, Humphries has advised investors to temper their expectations and adopt a more realistic outlook for potential gains.
The crypto analyst revealed that there was still potential growth for Shiba Inu’s short and long term outlook. However, he casted doubt on the likelihood of the meme coin reaching $0.1 any time soon. He compared the idea of Shiba Inu suddenly rising to $1 to the improbability of XRP jumping to $1,000, emphatically stating, “it’s not gonna happen.”
It’s important to note that, as of writing, the price of Shiba Inu is trading at $0.000012, while the value of XRP is $0.52, according to CoinMarketCap.
Although Humphries does not foresee SHIB hitting $1, he is optimistic that the cryptocurrency could potentially achieve a 10X rally this cycle and set new all time highs. He also envisions Shiba Inu’s market capitalization reaching $100 billion, provided that there is a full altcoin season. However, these bullish future outlook are largely dependent on favorable price movements and positive momentum of Ethereum (ETH).
Finally, Humphries has advised investors to avoid being emotional when conducting investments in highly speculative assets like cryptocurrencies. As a meme coin, Shiba Inu is significantly influenced by social sentiment and speculations, hence making investment decisions based on emotions could potentially lead to unnecessary losses.
SHIB Price Growth Tied To Burn Mechanism
During his video, Humphries disclosed that the development of a Shibarium burn mechanism could have a significant and positive impact on the price of SHIB. The analyst revealed that numerous retail investors have constantly called for a SHIB burn, as this would grossly reduce the overall supply of the token and potentially trigger a price surge.
Featured image created with Dall.E, chart from Tradingview.com
