Shiba Inu (SHIB) and Cardano (ADA) Are ‘Gems With 100x Potential,’ Says Analyst

TL;DR

• Shiba Inu (SHIB) is gaining momentum, with analysts pointing to certain catalysts for a potential triple-digit price surge in the current cycle.

• Cardano (ADA) is described as “built to last,” with some predicting a breakout to $1.60 in the short term and possibly $3 by year-end.

SHIB Bull Run on the Way?

The popular X user Henry recently claimed to have explored more than 500 cryptocurrencies to determine which ones are the “gems with 100x potential,” and Shiba Inu (SHIB) found a spot in the prestigious club.

The analyst suggested that the “SHIB movement [has] just started,” adding that the meme coin has much more room for growth due to the increased Shibarium adoption and the aggressive token burns. Henry is not the first to predict that further advancements in the layer-2 blockchain solution could positively impact Shiba Inu’s price. Not long ago, the Bitcoin advocate Jeremie Davinci said:

“I like Shiba Inu, as you know, and I think it will do relatively well in this cycle, but it may not go as high as you expect. I think Shiba Inu has a lot of utility now that they have Shibarium, and basically, it’s a chain that you can actually run all kinds of applications.

However, nobody is using it, and there are no applications for using your tokens on Shibarium yet. If they get that solved, Shiba Inu will go to the moon.”

Shibarium officially went live in the summer of 2023 and is specifically designed to foster the development of the meme coin’s ecosystem. Earlier this year, the total number of transactions processed on the protocol surpassed the milestone of one billion.

Henry also reminded that analysts predict a solid surge for Shiba Inu this year. The market observer shared their optimism, envisioning a “huge pump which is going to break all the past levels ATH and will be at least 790%.”

How About ADA?

Cardano’s native token was also on the list. Henry described it as the ocean: “calm, deep, and misunderstood.” However, the analyst argued that when ADA moves, it makes waves across the entire market. 

They further suggested that the asset was “built to last” and that Cardano “is shaping infrastructure.” In their view, ADA’s price is set to reach $3 later this year.

Other industry participants who recently touched upon the token’s performance and made optimistic predictions include Captain Faibik and STEPH IS CRYPTO. The former forecasted a “massive bullish rally” above $1.60 in the short term. 

The latter did not provide exact numbers, simply envisioning that ADA is about “to go parabolic.”