Shiba Inu’s (SHIB) price has been on a wild ride in 2023, with analysts predicting the meme coin could be poised for enormous growth in 2024 if market momentum picks up.

Prominent industry experts have set optimistic price targets for SHIB next year, indicating that the token could still have solid future prospects.

While Shiba Inu looks primed for further bullishness, a new meme coin called Meme Kombat (MK) is also attracting positive forecasts – and is being touted to become a competitor to SHIB in the future.

Rollercoaster Year for SHIB as Shibarium Hype Fails to Boost Token

Shiba Inu has had an eventful 2023 so far, experiencing highs and lows over the past 11 months.

The meme coin saw a promising start when it surged 46% in January amid enthusiastic speculation around upcoming features like the layer-2 Shibarium platform and a Shiba Inu metaverse.

However, the much-hyped Shibarium launch in August was spoiled by a bridging issue that trapped user funds, causing SHIB’s price to dip nearly 7%.

Over $1.7 million in ETH was inaccessible on the new chain, stalling thousands of transactions.

Still, developers solved the problems within weeks, restoring full functionality to Shibarium.

Despite the setback, SHIB has shown resilience, currently sitting at $0.00000822 in late November – up 23% from October’s lows.

SHIB was up by over 45% earlier in the month, although profit-taking from speculative investors has forced the token’s price back down.

Though 2023 has had challenges, Shiba Inu has ultimately proven that it can still produce gains for meme coin investors, even amidst the many obstacles the development team has faced.

Bullish Analyst Forecasts Call for Explosive SHIB Growth Ahead

Shiba Inu has attracted no shortage of optimistic price forecasts in recent months as analysts eye the token’s growth potential.

An especially bullish long-term prediction comes from Traders Union, who see SHIB reaching $0.0000213 by the end of 2023.

Traders Union also predicts that SHIB will rise to $0.0000402 in 2025 and hit $0.000205 by 20