Shiba Inu’s Expected Price for 2024: Expert Opinions
As the cryptocurrency market begins the week with a bullish trend, Shiba Inu (SHIB), the dog meme digital asset, is also experiencing a modest daily gain after a period of decline. Finance experts have shared their views on SHIB’s potential price for the start of 2024.
Andrew Lokenauth’s Perspective
According to Andrew Lokenauth, founder of TheFinanceNewsletter.com, Shiba Inu is a “purely speculative asset” with no underlying value or utility. He criticizes its developers’ poor transparency and limited ecosystem compared to other major cryptocurrencies, making it vulnerable to volatility. Lokenauth believes that SHIB will likely continue declining due to the absence of major catalysts and the bear market’s impact on speculative assets. He predicts that Shiba Inu’s price at the beginning of 2024 will be $0.000005.
Krishna Rungta’s Insights
Krishna Rungta, founder of Guru99, acknowledges that the launch of Shibarium, a highly anticipated layer 2 blockchain, did not have an immediate impact on SHIB’s price. He highlights the complexity of crypto markets, where significant developments may not lead to immediate price surges. Rungta identifies key drivers for SHIB’s price, including internal factors like development progress and adoption rate, as well as external factors such as regulatory changes and market sentiment.
SHIB Price Analysis
Currently priced at $0.00000707, SHIB has experienced a slight increase of 0.46% within the day. However, it remains down by 0.54% over the previous week and has lost 5.3% on its monthly chart. While SHIB may lack the strength for a significant recovery in January, AI algorithms suggest a bullish start to 2024, setting its price at $0.000007146 on January 1.
Hot Take: Shiba Inu’s Future Uncertainty
As experts provide contrasting views on Shiba Inu’s future, the digital asset remains speculative and vulnerable to market conditions. The lack of transparency, limited ecosystem, and competition from other dog-themed meme coins contribute to its uncertain outlook. While some believe SHIB will continue declining, others emphasize the complexity of the crypto market and the influence of various factors on its price. As investors and enthusiasts, it is essential to consider all perspectives and closely monitor developments in the cryptocurrency industry.
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