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Prominent Shiba Inu community figure Lola makes a bold assertion about investors’ end-of-year target for SHIB.
In a tweet yesterday, Lola claimed that SHIBArmy, Shiba Inu community members, expect SHIB’s price to record a greater surge, surpassing its previous all-time high (ATH).
She made the assertion in response to an article titled, “Will Shiba Inu Price Hit ATH [all-time high] Before Year End?” The article projected that significant whale transactions, strong demand, and an effective burn mechanism could propel Shiba Inu’s price to a new all-time high by year-end.
Why SHIBArmy Wants Higher Than ATH for SHIB
For context, SHIB registered its previous peak price on October 28, 2021, when it surged to $0.000088845. However, the token has plummeted heavily ever since. At the current price of $0.00001684, SHIB is down 80.91% from its ATH.
While several community members expect SHIB to hit a new top this year, others like Lola believe this projection is too modest.
Notably, Lola emphasized that Shiba Inu community members want SHIB to surge higher than an all-time high. This indicates that community members have greater expectations for SHIB and hope for loftier price milestones. Nonetheless, Lola did not specify a target for her projection.
Shiba Inu’s Recent Performance
Shiba Inu has struggled to register any major price uptick since it hit a yearly high of $0.000045 in March. Several factors, including geopolitical tension and macroeconomic activities, have negatively impacted SHIB’s performance this year.
However, Shiba Inu is still up 63.3% year-to-date (YTD) and 117.38% in one year. Conversely, SHIB is down 0.66% in 24 hours, 11.98% in one week, and 18.07% over the past month.
Despite this, many market analysts remain optimistic about SHIB’s prospects, with some projecting that the token would register a new ATH before the end of the 2024/2025 market cycle.
In August, popular TradingView analyst Alan Santana forecasted that Shiba Inu could surge to an ATH of $0.00023179 by next year. Earlier this month, the analyst revised his target, projecting that SHIB would record an ATH of $0.00013994 by the second half of 2025.
Afterward, he speculated that the token would hit a peak price of $0.00022321 before the end of the bull cycle.
While it remains unclear whether SHIB will reach any of these targets this cycle, it is worth mentioning that the Shiba Inu ecosystem has seen some positive updates lately.
These updates include the launch of ShibaSwap 2.0 and an increase in Shibarium activity. The developments could intensify SHIB burns, potentially boosting the value of the remaining tokens.