A crypto analyst has forecasted bullish scenarios for Shiba Inu (CRYPTO:SHIB), outlining price targets that could potentially see the meme coin reach up to $0.000165 in the coming years.

Abmoon, from TradingView, has set multiple targets for SHIB, predicting significant price increases ranging from 163% to 1,487% from current levels.

Despite recent market volatility, including sharp declines, Shiba Inu's robust trading volume and strong community support continue to bolster its potential for growth.

The analyst emphasises a longer-term perspective for these targets, suggesting that achieving some milestones may take years.

As meme coins gain traction in the current market cycle, Shiba Inu stands poised as one of the contenders to achieve new all-time highs, driven by its substantial market capitalisation and dedicated investor base.