Under bullish conditions, Shiba Inu has rallied several times and fetched investors with significant returns. During the asset’s September-October rally in 2021, SHIB appreciated by more than 1,600%. However, with the broader market consolidating at the moment, SHIB continues to trade with five zeros. The asset shed more than 1% of its value over the past 24-hours. It was seen exchanging hands around $0.000008394 at press time.
Also Read: Shiba Inu Adoption Rate Climbs to 58%, Highest Since 2020
What to expect from Shiba Inu going forward?
Amid the sluggish conditions, macro Shiba Inu forecasts continue to be bullish. According to recent research by BTCC Academy, SHIB is expected to continue trading with five zeros this year, with a maximum attainable price of $0.0000092. By 2025, SHIB’s price has been forecasted to erase a zero and trade anywhere between $0.000013-$0.000017. The research pointed out that by 2030, the asset would eventually be able to triple in price and be valued around $0.000024 to $0.000031.
BTCC Academy cautioned investors that the aforementioned figures were generated using its price prediction tool. As a result, it cannot be guaranteed that the actual price action will exactly stick to the schedule, given the ever-changing market conditions.
Also Read: Shiba Inu: Investors Holding 100 Billion to 1 Trillion SHIB Rise 9%
On-chain point of view
Now, if SHIB follows the aforementioned price forecast, the next couple of years could prove to be quite tricky for the asset. From the on-chain perspective, two of its largest resistance clusters range between $0.000009 to $0.000019. In this range, a total of 691.7 trillion SHIB tokens have been bought by over 444,000 addresses.
So, when SHIB attempts a recovery and tries to knock out zeros, it will be faced with sell pressure from these investors. Only if it manages to weather through the storm, will it be able to head towards its 2030 forecasted price. Once the aforementioned barriers are crossed, then SHIB faces no potential resistance from the on-chain front, opening the doors for acceleration thereon.
Also Read: How Many Shiba Inu Tokens You Need To Make $1 Million If SHIB Hits $0.001?
