Shiba Inu Predicted to 10x This Cycle—Is the $0.01 SHIB Price Target Still Out of Reach?

• Upcoming updates, such as using SHIB as collateral and launching a DAO, could significantly boost interest and drive demand, fueling the possibility of a 10x gain.
• Despite recent declines, analysts predict SHIB could reach new heights if broader market conditions, like Ethereum’s performance, remain favorable.

In line with the recent development of Shiba Inu making token buying easier, as reported in a recent CNF update, current Shiba Inu (SHIB) data from last Friday shows the token dropped by 2.17%, aligning with a broader crypto market downturn. SHIB’s value has fallen about 69% since March, but some investors see this as a buying opportunity, hoping for future gains.

As of today, Shiba Inu (SHIB) is trading at $0.00001334, down 2.42% in the past day and 10.82% in the past week. See the SHIB price chart below.

Crypto analyst CryptoZack predicts SHIB could reach $0.0014 if Ethereum performs well. In his YouTube video, he stated:

“Could SHIB 10x in this cycle from current price levels? Could it set all-time highs? Could it get to a hundred-billion-dollar market cap? Hell yeah, it definitely can and most likely will.”

Additionally, SHIB’s ecosystem is set for major updates, including its use as collateral on Kraken and plans for a decentralized autonomous organization (DAO) by 2025, which could boost interest and demand.

The SHIB community has reasons to be optimistic; CNF earlier reported that SHIB Community’s New Era Beckons, indicated by Shibarium skyrocketing 441%. Recent developments such as SHIB’s inclusion as collateral for futures trading on Kraken and upcoming ecosystem transformations, including a shift towards decentralization and the launch of a DAO by 2025, are expected to increase interest in SHIB and potentially drive up demand for the token.