Shiba Inu (SHIB) is poised for a potential bullish breakout, as one highly-followed TradingView analyst predicts a massive 400% price surge in the upcoming weeks and months. The analyst, known as without_worries, notes that SHIB has already emerged from a downtrend, hinting at a possible repetition of its earlier 400% rally seen in late February and early March. Currently trading around $0.000018, a further 400% jump could propel SHIB back towards its all-time highs in the vicinity of $0.000080. Such a surge would significantly boost SHIB’s market capitalization, pushing it from its current level of approximately $10.57 billion to over $40 billion, surpassing Dogecoin’s (DOGE) current market cap of roughly $18 billion. Insights from this article are sourced from BTCC’s Crypto Academy.
- SHIB to Surpass DOGE: A Possible Reality?
- Will Shiba Inu (SHIB) Price Continue to Rise or Fall?
- What is Shiba Inu (SHIB), the so-called “Dogecoin Killer”, and how does it work?
- How Has Shiba Inu Performed Technically in the Past?
SHIB to Surpass DOGE: A Possible Reality?
If Shiba Inu’s price skyrockets, Dogecoin is likely to follow suit. However, it won’t be easy for Shiba Inu to close the gap. Dogecoin boasts a longer history, operates on its own decentralized blockchain, and has the support of renowned billionaire Elon Musk, giving it a significant edge over SHIB, which is an ERC-20 token.
Will Shiba Inu (SHIB) Price Continue to Rise or Fall?
Shiba Inu (SHIB) appears poised for a near-term breakout, as its price consolidates within a pennant structure. This aligns with without_worries’s market analysis, hinting at a possible surge towards the $0.000030s range, signaling the initial phase of a potential 400% rally. However, beyond SHIB’s immediate prospects, investors are eyeing even greater upside potential. One strategy to capitalize on such opportunities is by investing in high-potential new meme coins early on. A prime example is Meme Bets (MEMEBET), a GambleFi meme coin in its presale stage that btcc.com analysts believe holds significant promise. Meme Bets is innovating the market by developing a Telegram/web-based meme coin casino and sportsbook, a groundbreaking move in the industry.
What is Shiba Inu (SHIB), the so-called “Dogecoin Killer”, and how does it work?
Shiba Inu, or “SHIB,” stands out with its peculiar name, but it’s not just a gimmick. This digital coin is backed by solid reasons for its uniqueness. Named after the mascot of the Japanese Shiba Inu dog breed, it carries the pet’s most important trait: loyalty, which it extends to all its investors. As a secure and decentralized meme token, SHIB is a variant of the ERC-20 token, blending key features of Ethereum, Bitcoin, and Dogecoin into one powerful fusion.
How Has Shiba Inu Performed Technically in the Past?
Shiba Inu, currently priced around $0.000019, boasts a circulating supply of 589.59 trillion SHIB and a robust 24-hour trading volume of approximately $753,849,433. With a market capitalization of $11,032,556,141, SHIB has experienced a 2.52% price shift compared to the previous week. Since its inception, Shiba Inu has exhibited a steady price escalation, peaking at an all-time high on October 28, 2021, amidst the volatile crypto market. In 2022, SHIB reached a high of $0.00003436, followed by a period of downward trends or sideways trading, concluding with a notable recovery towards the year’s end. The current price dip could potentially offer a lucrative buying opportunity for investors and traders, as suggested by our Shiba Inu price prediction. However, given its pronounced volatility and sensitivity to market fluctuations, it remains crucial to stay vigilant and monitor SHIB’s price movements.
Based on our technical analysis, SHIB shows potential for a buying opportunity as prices dip. Past performance indicates possible gains for investors and traders who seize this moment.
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