The Shiba Inu (SHIB) community recently expressed excitement over the prospect of the token reaching a new all-time high (ATH) despite a challenging market environment in October.
The Shiba Inu (SHIB) community engaged in discussions about the possibility of the token reaching a new all-time high (ATH) in October, despite a challenging market environment.
While several cryptocurrencies experienced a downturn in October due to pressure from large liquidations and rising geopolitical risk, especially in the Middle East, Shiba Inu’s price declined. Commencing the month at a high of $0.00002156 on September 27, SHIB fell by 23.56%, trading at around $0.00001648 on October 27.
Moreover, SHIB witnessed a 12% decrease in a week. Despite the downturn, the community expressed hopes for a new ATH for SHIB in the upcoming 2024/2025 market cycle.
In light of these discussions, the Shiba Inu ecosystem team engaged with its supporters on X, posing a question: “When SHIB hits a new high, I’m going to _______.” This message encouraged community members to share their aspirations when SHIB reaches a new price peak. Some mentioned planning a vacation, thinking about the retirement period, buying more SHIB tokens or luxury items such as Lamborghini cars.
Community figures, including JD, the founder of PawZone, echoed the sentiment of optimism. JD promised to remind everyone of their predictions regarding SHIB’s potential new ATH, welcoming new members to the community.
According to data, Shiba Inu’s last ATH occurred on October 28, 2021, when the token peaked at $0.00008616. Currently, SHIB’s price is approximately 80.7% lower than that peak, highlighting the significant volatility in the market.
Several analysts and market observers remain bullish about Shiba Inu’s potential to reach a new ATH. They believe that continued growth in the Shiba Inu ecosystem, including the growth in Shibarium’s TVL and higher token burn rates, could help attract investor attention to the token. In August, famous market analyst Alan Santana set a new ATH target of $0.00023179 for Shiba Inu during the next bull run, which, according to him, may happen by 2025. This projection would demand a significant rise of 1,306% from the present price. However, analyst Oscar Ramos suggested that SHIB may hit another ATH of $0.00017 in the next year, which will be quite a jump of 931.55% from the current price.
Top trader Dexter also spoke up, and based on his analysis, Shiba Inu could go between $0.000089 and $0.00015 within the next couple of months. However, the potential for SHIB to reach a new all-time high before the end of the 2024/2025 market cycle is still unknown.
