Shiba Inu (SHIB) has seen a rollercoaster year in 2024. After a major price surge in March, it lost much of those gains in the following months. Currently valued at about $0.00002703, SHIB is up more than 202.97% since last year (according to Coin Market Cap). However, SHIB could still see significant growth.

Crypto influencer Zack Humphries predicts that SHIB could experience a 10x increase from its current value, potentially reaching new all-time highs. This forecast relies heavily on renewed interest from retail investors. Humphries suggests that well-known meme coins like SHIB and Dogecoin (DOGE) could see a strong revival if mainstream investors re-enter the crypto space.

Another critical factor is Shibarium, SHIB’s layer-2 solution launched in August 2023. This platform supports SHIB’s burn program, aiming to lower its circulating supply and create scarcity, which could drive up SHIB’s value. Humphries believes Shibarium adds utility, attracting more investors.

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Furthermore, SHIB’s potential is also tied to Ethereum’s performance. If Ethereum (ETH) experiences a significant price increase, Humphries expects SHIB, as a prominent ERC-20 token, to also benefit.

A separate bullish view comes from another crypto analyst, Master Kenobi. He believes SHIB has been carefully developed with a strong capital foundation, setting it apart from other meme coins. He sees SHIB as a serious contender to DOGE, with a possibility of reaching a $100 billion market cap and a spot in crypto’s top 10.

In summary, SHIB’s future growth relies on key factors: retail investor interest, Shibarium’s development, and Ethereum’s performance. If these align, SHIB could achieve substantial gains and new highs.