The Shiba Inu ecosystem team publishes a new X post relating to SHIB hitting a new all-time high (ATH).
October has not met investors’ expectations of massive rallies across various crypto assets like Shiba Inu (SHIB). This is due to several factors plaguing the financial market over the past few days, with the crypto sector taking up some of the heat.
In particular, factors such as growing long liquidations and rising geopolitical tension in the Middle East have dampened investors’ “Uptober” hopes.
Shiba Inu’s Performance in October
Like the rest of the crypto market, Shiba Inu has witnessed massive downturns since the beginning of this month. The top dog-themed token, which surged to a three-month high of $0.00002156 on September 27, has slumped 23.56% to $0.00001648 ever since.
Moreover, Shiba Inu is down 11.1% since the beginning of this month and 13.3% in the weekly charts. Nonetheless, several Shiba Inu community members remain confident in SHIB amid the downtrend, with belief that the asset can still register a new all-time high in the 2024/2025 market cycle.
Shiba Inu Tweets About New ATH
As this speculation gains momentum, Shiba Inu’s ecosystem team posted an open-minded message on X, asking proponents to reveal what they intend to do when SHIB hits a new ATH.
“When SHIB hits a new high, I’m going to _______,” Shiba Inu tweeted.
The message plays on the community’s expectations of SHIB reaching a new price peak, encouraging members to fill in the blanks on how they plan to react. According to the comment section, users’ reactions range from vacaying, retiring, increasing their investment in SHIB, and buying a Lamborghini.
Community figures like JD, the founder of PawZone, promise to remind everyone that they predicted SHIB’s new all-time high and also welcome new members into the community.
For context, Shiba Inu registered its previous ATH on October 28, 2021, almost three years ago. At the time, Shiba Inu hit a peak price of $0.00008616 per token, according to CoinGecko data. However, the token’s price has dipped 80.7% from this peak value.
Experts See Shiba Inu Hitting New ATH in 2024/2025 Bull Market
Notably, several experts believe that Shiba Inu will hit a new ATH in the ongoing bull market, with many projecting that SHIB will eliminate leading zero and potentially hit a minimum price of $0.0001.
Their confidence emanates from the positive developments happening within the Shiba Inu ecosystem, ranging from a surge in Shibarium’s TVL to enhanced burns, as observed last month. These developments could boost investors’ appetite for SHIB, potentially driving the price to a new ATH.
In August, top market observer Alan Santana set a new ATH target of $0.00023179 for Shiba Inu in the upcoming bull run. The analyst specified that Shiba Inu could hit the target by 2025. Reaching this level requires a surge of 1,306% from the current price of $0.00001648.
Meanwhile, last month, prominent analyst Oscar Ramos speculated that Shiba Inu could set a new ATH of $0.00017 by next year. This represents a surge of 931.55% from the current price.
Furthermore, top trader Dexter projected that Shiba Inu would hit a new all-time high in September, stating that SHIB could trade between $0.000089 and $0.00015 in the coming months.
However, whether Shiba Inu will register a new all-time high before the end of the 2024/2025 market cycle remains to be seen.