- The memecoin sector sees a surge in market interest, with Shiba Inu showing resilience despite the recent downturn.
- Telegaon forecasts Shiba Inu’s shift from meme coin to payment system potential, projecting a peak price of $0.089 by 2040.
The first quarter of 2024 ushered in a meme frenzy, with meme coins like Shiba Inu printing significant gains. However, the general market trend has witnessed a downturn, resulting in decreased token transactions and trading volume.
Shiba Inu has showcased modest market resilience, reflected by its 4.18% uptick over the past month. Nonetheless, SHIB has been on a downtrend over the past seven days, losing 14% of its value to trade at 0.00002574. Despite this, SHIB’s recent price performance has been northbound, revealing a more positive trend.
In the current intraday session, Shiba Inu trades at $0.0000271, reflecting a slight price dip. In contrast, the month-to-date chart reveals a more positive trend, with SHIB printing a 21.64% gain over that period. This upward trajectory suggests a shift from its meme-based origins towards a more versatile and market-appealing coin. Meanwhile, Telegoan, a forecasting firm, has projected the SHIB to hit 5 Cents by 2040.
Moreover, the recent introduction of its magazine, ‘The Shib,’ on its ecosystem further bolsters this projection. Published after SHIB’s decline to $0.000026, the magazine showcased numerous developmental endeavors within the Shiba Inu ecosystem, including NFTs and partnerships.
Telegaon’s Bullish Forecast for Shiba Inu: From Meme Coin to Payment System Potential
Telegaon, a reputable forecasting firm, has further highlighted Shiba Inu’s growing market potential. In light of this, the entity predicts SHIB will surpass its meme coin status and envisions its adoption into payment systems. Potential listings on mainstream exchanges accompany this forecast. These developments could propel SHIB’s market status and adoption rates, leading to the coin’s sustained uptrend.
Moreover, Telegaon has provided insights into the future trajectory of Shiba Inu’s native token, SHIB. According to their analysis from 2024 to 2040, SHIB is expected to hit a peak price of $0.089, reflecting a massive leap from its current price. Notably, the entity’s forecast hints at SHIB achieving the milestone of 5 cents by 2040. However, SHIB’s journey toward the 5-cent entails navigating through potential resistance levels.
