Shiba

Shiba Inu

TL;DR
<ul>
 <li>SHIB faced a sharp correction after a brief rally in September but is showing signs of recovery.</li>
 <li>Some analysts predict a potential bull run, but extreme targets (e.g., $0.01) are unrealistic.</li>
</ul>
<h2 id="span-data-preserver-spaces-true-a-href-https-cryptopotato-com-wp-content-uploads-2024-10-shib_cb-46-jpg-data-wpel-link-internal-rel-noopener-noreferrer-nofollow-a-span"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/SHIB_CB-46.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a></h2>
<h2 id="shib-rally-in-the-following-weeks">SHIB Rally in the Following Weeks?</h2>
The popular meme coin made the headlines at the end of last September, with its price reaching a three-month high and its market capitalization briefly exceeding $12.5 billion. The community expected that October will offer additional gains given the fact that it has been a historically good period for the entire cryptocurrency industry.&nbsp;
Contrary to the presumption, though, the sector experienced a severe correction. Shiba Inu (SHIB) was among the worst-affected assets, dropping to a local low of around $0.00001570 on October 3. Since then, it has recovered some of the losses and is currently trading at approximately $0.00001738 (per CoinGecko’s data). 
<figure id="attachment_364849" aria-describedby="caption-attachment-364849" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/SHIB-Price-2.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-364849" src="https://cryptopotato.com/wp-content/uploads/2024/10/SHIB-Price-2.png" alt="SHIB Price" width="585" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/SHIB-Price-2.png 845w, https://cryptopotato.com/wp-content/uploads/2024/10/SHIB-Price-2-300x205.png 300w, https://cryptopotato.com/wp-content/uploads/2024/10/SHIB-Price-2-768x525.png 768w, https://cryptopotato.com/wp-content/uploads/2024/10/SHIB-Price-2-50x34.png 50w" sizes="(max-width: 585px) 100vw, 585px"></a>
 <figcaption id="caption-attachment-364849" class="wp-caption-text">
 SHIB Price, Source: CoinGecko
 </figcaption>
</figure>
Despite the shaky performance as of late, some analysts remain optimistic that SHIB will enter into a bull run mode in the weeks to come. The X user CRYPTO SHERIFF supports that thesis. The enthusiast <a class="editor-rtfLink" href="https://x.com/Gem_Sheriff/status/1843218268745810354?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">noted</a> the asset’s resurgence following the pullback, predicting that “the rise will accelerate” soon.&nbsp;
Another popular analyst who envisioned good days ahead for SHIB is the X user Yoddha. Earlier this week, they <a class="editor-rtfLink" href="https://cryptopotato.com/shiba-inu-shib-might-be-gearing-up-for-a-130-price-increase-analyst/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">claimed</a> the price pattern had formed a specific triangular shape, which could be followed by a 130% rally&nbsp;if broken to the upside.&nbsp;
<h2 id="span-data-preserver-spaces-true-how-span-span-data-preserver-spaces-true-about-span-span-data-preserver-spaces-true-a-span-span-data-preserver-spaces-true-shib-span-span-data-preserver-spaces-true-price-explosion-span-span-data-preserver-spaces-true-to-span-span-data-preserver-spaces-true-0-1-span">How About a SHIB Price Explosion to $0.1?</h2>
Some hardcore proponents of the meme coin often tease the target of 1 cent, believing SHIB has much more room for growth in the next years.
It is worth noting that such an impressive rally would require its market cap to the absurd $58 trillion. Currently, the total capitalization of the entire cryptocurrency sector is less than $2.3 trillion, making the assumption sound ridiculous.
The X user Altcoin Daily chipped in on the matter, <a class="editor-rtfLink" href="https://x.com/AltcoinDailyio/status/1843006967864029642" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">explaining</a> how unlikely such a scenario really is:
<blockquote>
 “I heard someone talking about they bought SHIB because if it only goes to 1c next year then they will be a millionaire. This is literally not possible with SHIB’s current market cap. Learn how to value coins in market cap vs price.”
</blockquote>
&nbsp;
The post <a href="https://cryptopotato.com/top-shiba-inu-shib-price-predictions-is-a-bull-run-this-month-still-possible/" rel="noopener noreferrer nofollow">Top Shiba Inu (SHIB) Price Predictions: Is a Bull Run This Month Still Possible?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Top Shiba Inu (SHIB) Price Predictions: Is a Bull Run This Month Still Possible?

Table of Contents

CryptoPotato_News

Other articles published on Oct 8, 2024

FTX Hearing Set for October 7: Key Details on the Payout Process

Bitcoin Price Falters At $64K, Chinese Stocks Tumble, What’s Next for BTC?

South Korea Considers FX Regulations for Stablecoins in Cross-Border Trade

PepsiCo Reports Resilient Third-Quarter Core EPS of $2.31 Amidst Challenges

Blockchair: A Single Platform for In-Depth Crypto Insights

Top Performers: Solana Records 10.7% Growth in October, Followed by Ethereum and Avalanche

Join our free newsletter for daily crypto updates!