The Shiba Inu price could potentially reach a new high after Bitcoin’s next halving which will take place in 2024.
Predictions from Telegaon
Despite Shiba Inu’s underperformance, multiple analysts say the future still looks bright for the second-largest memecoin.
Recently there is a recent market update shared by Telegaon, a crypto research firm that uses artificial intelligence to predict the prices of digital currencies. According to Telegaon, the SHIB price could even rise to a value of $9.61 by the year 2050.
The analysis firm made several price predictions for the Shiba Inu token. The predictions were made for the year 2022 to the year 2050. Telegaon made this price prediction in three categories: a minimum, an average and a maximum price.
By 2025, one year after the next Bitcoin halving, SHIB will reach a new all-time high, according to Telegaon. Under the average scenario, the SHIB price would be around $0.0001152 in 2025, while the maximum price target is set at $0.0001928.
The research firm also noted that it expects SHIB to reach an average price of $0.000935 and a maximum price of $0.00112 by 2030.
The analysis firm further noted that it expects Shiba Inu to rise again to a new record by 2040. By then, the second largest memecoin will have destroyed (burned) 50% of its total supply.
By 2040, we expect an average price of $2.76 depending on the market trend. Our maximum price prediction for 2040 is $4.15.
