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Cryptocurrency News Articles
Shiba Inu (SHIB) Could Be Gearing Up for a Major Rally to New All-Time Highs This Bull Cycle
Sep 29, 2024 at 07:00 am
Given the cryptocurrency's recent bullish performance, analysts predict that Shiba Inu can surge above its all-time high of $0.000086.
Shiba Inu (SHIB) price recently enjoyed a price increase from around $0.00001 to $0.00002. This occurred in the last few weeks, hinting that the popular meme coin may be getting ready for a parabolic rally in Q4 of 2024.
Related: Ethereum Sees 43% Crash In Active Addresses, What’s Going On?
Highlighting the meme coin’s recent bullish performance, a crypto analyst and prominent Shiba Inu supporter, known as ‘SHIB Knight,’ expressed optimism about SHIB’s price outlook.
In a X (formerly Twitter) post, the analyst shared a Shiba Inu price chart, suggesting that the popular meme coin was gearing up to surpass the $0.00008 mark.
Further solidifying his bullish forecast, SHIB Knight boldly announced that Shiba Inu was finally ready for a new all-time high (ATH), marking a historical milestone for the meme coin.
In October 2021, Shiba Inu hit an ATH of $0.000086, reflecting a 75.59% increase from its current price. Notably, SHIB has been building more momentum as September wraps up, hinting at a possible strong rally in October.
Moreover, with the cryptocurrency currently trading at $0.00002, it would need a 330% surge to reclaim its former peak.
While SHIB Knight did not forecast a specific date and price target, he announced that Shiba Inu could go past its ATH, with the potential to break above $0.000086 this bull cycle.
SHIB Maintains Powerful Momentum
The price of Shiba Inu has maintained a powerful upward trend in the past few weeks, achieving double-digit gains despite previous market declines.
While the popular meme coin experienced its share of price declines earlier this year, Shiba Inu seems to be making a strong comeback, suggesting a renewed interest and demand from investors.
According to data from CoinMarketCap, SHIB has jumped by 48.20% over the past 30 days. Additionally, the cryptocurrency saw another 45.84% increase in the last seven days, highlighting its strong price dynamics.
Related: Dogwifhat Rally Far From Over As Analysts Predicts 1,600% Jump
Similarly, other meme coins, such as Dogecoin (DOGE) and Pepe (PEPE), also enjoyed a price increase over the past week. Pepe recorded a price increase of over 38% in the past seven days, while Dogecoin rose by 17%.
This shift from bearish trends to bullish underscores a significant change in investors’ sentiment towards the meme coin market. A crypto analyst, known as ‘AllInCrypto’ on X, also highlighted the recent positive momentum in meme coins.
The analyst noted that Shiba Inu’s price action looks great, adding that the pullback for meme coins was likely over. This was evident in Shiba Inu’s price movements, which saw further gains of 9.48% just today.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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- ETFSwap (ETFS): A Promising Alternative For Ripple (XRP) Investors
- Sep 29, 2024 at 10:15 am
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- ETFSwap (ETFS) Emerges As Investors' Top Choice For Supremacy
- Sep 29, 2024 at 10:15 am
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- Shiba Inu (SHIB) Price Prediction: Can SHIB Continue to Explode?
- Sep 29, 2024 at 10:15 am
- Shiba Inu has enjoyed an explosive rally this week, fueled by a growing bullish sentiment in the crypto market. But can SHIB continue to explode in the months ahead?