Shiba Inu [SHIB] is looking very optimistic for the upcoming 6-9 months, and possibly even beyond considering the duration of Bitcoin’s [BTC] bullish trend. Previous market cycles have shown a pattern where interest initially focuses on Bitcoin before shifting towards alternative cryptocurrencies.
In 2017, the spotlight was on Initial Coin Offerings (ICOs) and token sales. In 2021, Decentralized Finance (DeFi) tokens and Non-Fungible Tokens (NFTs) gained significant attention. Could this current bull run mark the beginning of a memecoin supercycle? Murad Mahmudov’s presentation at the TOKEN2049 Conference strongly suggested this possibility.
Is Shiba Inu poised to compete with Dogecoin?
As of now, Dogecoin [DOGE] boasts a market cap of $65 billion, securing its position as the 7th largest cryptocurrency on CoinMarketCap. Starting from a market cap of $500 million in December 2020, DOGE surged to $84 billion within just six months, representing an almost 200x increase. This remarkable rally served as the inspiration for numerous new memecoins, including Shiba Inu.
With the current market flooded with hundreds of memecoins, SHIB may face challenges in matching DOGE’s meteoric rise.
Traditionally, it is the key players in the market that attract the most attention and investments. This time around, DOGE, SHIB, and Pepe [PEPE] could emerge as the top performers.
Predicted Prices for 2025
In the near future, conservative estimates for SHIB range from $0.0000045 to its all-time high of $0.000086. Achieving the latter would require a 185% surge in value.
However, this prediction might be on the conservative side. Historical data shows that when memecoins experience a pump, it tends to be rapid but short-lived. For instance, SHIB witnessed a 1,639% surge in value over 50 days during the second half of 2021.
The initial months of 2025 are expected to be highly bullish, with the potential for challenging the previous all-time high within the next 3-4 months. According to Santiment’s recent findings, network activity is currently below the levels observed in Q4 of 2021.
Although activity has shown signs of recovery in recent weeks, daily active addresses remain high while network growth has been inconsistent. The MVRV ratio stands at 39.25%, significantly lower than the 330% recorded in October 2021.
The ability of SHIB to achieve substantial gains after reaching a new all-time high will depend on Bitcoin’s performance. As of now, considering different scenarios, a market cap of $80 billion for Shiba Inu in 2025 cannot be discounted.
Disclaimer: The opinions expressed here are not intended as financial, investment, or trading advice, and represent the personal views of the author.