Changelly crypto exchange presented its bullish price forecasts for Shiba Inu (SHIB). The crypto exchange also highlighted several fundamentals that paint an optimistic picture for the meme coin.
Shiba Inu to hit $0.00002495 by July
Changelly predicted in a blog post that Shib Inu will see a price increase of just over 40% from its current price level and will reach $0.00002495 by July 1st. This is part of their bullish expectations for the meme coin this year, with the crypto exchange predicting that Shiba Inu can rise to $0.0000389961 by the end of the year.
Interestingly, Changelly made these bullish predictions while noting that Shiba Inu is currently experiencing a bearish market sentiment. Despite this, they believe that the meme coin can still benefit from a strong upward trend, noting that the meme coin has shown “very strong potential” as of late.
The crypto exchange further hinted at SHIB’s fundamentals as part of why they are bullish on the meme coin. Changelly noted how Shiba Inu developers “aim to solve serious and real problems”. The blog post also highlighted how Shiba Inu is preparing to become a “full-fledged” decentralized ecosystem, with the community having 100% rights to manage the network without a centralized governing body.
Meanwhile, Changelly said the overall market sentiment for the SHIB coin is “pretty positive” despite its recent downtrend. The crypto exchange mentioned Shibarium as a “key factor” that generates a lot of excitement among Shiba Inu investors. Layer 2 networking has become an integral part of the SHIB ecosystem and offers great utility for the coin itself, which could contribute to future price spikes.
Changelly also claimed that Shiba Inu has “the distinct advantage of a large, dedicated and passionate community.” The Shiba Inu community, known as the “SHIB Army”, has undoubtedly played an important role in the rise of Shiba Inu and Changelly believes that it can also help position Shibarium as one of the leading networks Layer 2 Ethereum.
SHIB’s road to a new all-time high
Javon Marks, crypto analyst recently Underlines how Shiba Inu could reach a new all-time high (ATH). He declared that SHIB could soon see a parabolic rise to $0.000081, given that the meme coin is still up over 100% since breaking out of a resistance trend, which it highlighted on the chart.
A rise to $0.000081 represents a price gain of over 200%, which Marks believes is possible and that the recent pullback could contribute to such a breakout. He further mentioned that a breakout or hold above $0.000081 could send Shiba Inu to $0.0001553, a new ATH for the the second largest coin by market capitalization.
Featured image created with Dall.E, chart from Tradingview.com
