Renowned Crypto Analyst Doesn’t See Shiba Inu Rise To $1 » Crypto Insiders

The founder of PAC Protocol and American politician, David Gokhstein, believes there is a chance that the stock price of Shiba Inu (SHIB) can show a nice increase in the future. At this point, the altcoin traded at $0.00002598, but it is possible, according to Gokhstein, that the price of SHIB will reach $0.001.

SHIB rate

The SHIB army, or the Shiba Inu community, is frequently heard on social media. Often the most crazy predictions are made for the price of the meme coin. However, many of these predictions are completely disconnected from reality, according to analysts.

One of the most common predictions is that SHIB will hit $1 sooner or later. However, according to Gokhstein, this is very unlikely. He sees it happening that the price can touch $0.001 at some point. In this scenario, SHIB’s price should increase by a factor of x38.

I don’t believe $ SHIB will hit $1, but I can see it touching $0.001.

My personal opinion.

I’ll take it.

— David Gokhshtein (@davidgokhshtein) April 13, 2022

However, a price of $1 goes a lot further. It’s already doubtful that Shiba Inu will be able to rise to $0.001, but the requirements for a rise to $1 are simply beyond words. That would mean that SHIB should increase by a factor of x38,491. In that case, Shiba Inu’s market cap would be close to $550 trillion. The entire crypto market, so all cryptocurrencies together, is currently worth almost $1.9 trillion. Whichever way you look at it, a rise to $1 is impossible for SHIB.

Criticism of Gokhstein’s shiba inu price prediction

Yet Gokhstein received quite a lot of criticism from the Shiba community. Many fans of the meme coin were not interested in Gokhstein’s “negative” prediction. According to many Shiba Inu investors makes it burning mechanism of the project, it is indeed possible that Shiba Inu will reach $1. Although the burning mechanism makes it easier to achieve a higher price per token, a price of $1 is still an almost impossible feat.

Of course it is impossible to predict exactly what the price of a cryptocurrency will do in the future. It is certainly possible that SHIB could rise astronomically in the future. However, crypto investors would do well to keep in mind that some positive predictions may go a step too far.

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