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Shiba Inu marketing specialist, Lucie, suggests that the current market conditions are similar to those witnessed in 2020, which marked the early stage of the 2021 bull cycle.
The prices of various crypto assets have skyrocketed tremendously in recent times. The rally, which began after the U.S. election, saw various assets like Bitcoin (BTC) and Solana (SOL) hit new all-time highs (ATH). For instance, while Bitcoin registered an ATH of $99,655 on November 22, Solana surged to a peak price of $263 the following day.
Shiba Inu Price Action
However, altcoins like Shiba Inu have yet to register a new ATH in the ongoing bull run, triggering concerns that SHIB had been left out in the rally.
For context, Shiba Inu only surged to $0.00003031 on November 12 from a monthly low of $0.00001626. Despite the rally, SHIB was still down 64.82% from its ATH of $0.00008616, registered on October 28, 2021.
Following the recent correction across the broader market, some investors claimed the bull run has ended, with SHIB losing out.
Lucie React
However, Lucie suggested that the market trend is similar to what investors observed in 2020 before the explosive rally that followed suit in 2021.
Recall that Shiba Inu launched in August 2020 with ten zeros after its decimal. On November 28, 2020, Shiba Inu plunged to its all-time low (ATL) of $0.000000000056, with many investors losing hope in the asset. After falling to its ATL, the canine-themed token did not record any significant price movement in 2020.
However, things changed for Shiba Inu in 2021, with top exchanges listing it on their platforms amid surging demand. Moreover, Shiba Inu saw its biggest burn in May 2021 when Ethereum co-founder Vitalik Buterin transferred over 410 trillion SHIB to the official dead wallet.
These activities attracted investors’ attention to SHIB, ultimately taking the token to an ATH of $0.00008616 in October 2021.
According to Lucie, the current market trend is similar to 2020, preceding the hefty bull run in 2021. She characterized 2025 as the ‘year of the super cycle,’ which could potentially result in a larger bull run, similar to the 2021 record.
Furthermore, she encouraged investors to remain patient and ensure they invest in assets that could achieve extraordinary growth.
Experts Anticipate New ATH Above $0.0001 for SHIB
At press time, Shiba Inu is currently hovering around the $0.000025 level. The asset is trading at $0.00002541, up 2.64% over the past 24 hours.
Despite trading below its ATH, several experts believe a new peak looms for Shiba Inu. Specifically, some investors project that Shiba Inu will surge above $0.0001 in the ongoing 2024/2025 bull cycle.
In May, Bitcoin investor Dona set a target of $0.000114 for SHIB, while top expert Javon Marks forecasts an imminent climb to $0.0001553. It remains unclear whether Shiba Inu will hit any of these targets before the end of the 2024/2025 bull market.