While the week has begun with a bullish momentum in the crypto industry, Shiba Inu is no exception. The well-known meme coin has recently broken the negative streak, showing a modest regular gain while finance specialists are expressing diverse predictions. Particularly, a couple of finance experts have provided their viewpoints about the meme token.
Finance Professionals Forecast Shiba Inu’s Price at 2024’s Start
In addition to this, they have also given their insights concerning the likely price changes at 2024’s start. They include Krishna Rungta (the person responsible for establishing Guru99) and Andrew Lokenauth (TheFinanceNewsletter.com’s founder). On the 14th of October, Lokenauth disclosed that Shiba Inu is a wholly speculative token with no fundamental utility or value.
According to him, the asset does not have use cases in the real world beyond speculation and trading. Apart from that, he has condemned the poor communication and transparency of the developers of the token. Moreover, Lokenauth has spoken against Shiba Inu’s limited ecosystem in comparison with the rest of the prominent cryptocurrencies. As per him, this factor makes it vulnerable in the case of volatility.
Additionally, the experienced investor mentioned that Shiba Inu is competing with the rest of the meme coins such as Dogecoin. Keeping that in view, he anticipates that SHIB will potentially keep on plunging in the nonappearance of well-known catalysts as well as during the bear market. In this way, the expert added, the token’s price will begin the next year at a price level of nearly $0.000005.
The Expert Discusses the Internal and External Factors Responsible for Current Crypto Scenario
Simultaneous to this, Rungta asserted that the most speculated L2 blockchain Shibarium’s launch has remained ineffective in influencing SHIB’s price. Rungta thinks that this elaborates on the complex nature of the crypto industry in general. In this respect, Rungta discussed the development progress of the project along with its adoption rates. He also touched on things like the regulatory shifts and the overall market sentiment.
SEC Issues Investors Alert Regarding Cryptocurrency Securities
Bitcoin’s Upward Price Journey – BTC to Hit New All-Time High (ATH) Value
U.S. Defense Bill 2024 Removes Crypto Regulations from the Legislation
You have not selected any currencies to display