- Shiba Inu’s remarkable 207.2% potential ROI projection for November 2024 signals strong near-term bullish momentum.
- Technical indicators show unprecedented market optimism with 100% bullish sentiment and an Extreme Greed Index of 80.
- SHIB has maintained impressive stability with 57% green days over the past month, while ranking as the 12th largest global cryptocurrency.
As 2024 draws to a close, Shiba Inu has demonstrated remarkable resilience and growth potential in the cryptocurrency market. Currently trading at $0.00002518, the popular meme coin’s robust technical momentum has attracted the attention of investors and traders. The last of Changelly blog predicts a bullish outlook for the token’s year-end performance.
Riding the wave of recent Bitcoin rallies, overall market sentiment has been decidedly optimistic, as evidenced by the Fear and Greed Index reaching 80. Memecoins like SHIB are also part of this bullish wave. The token’s robust 17/30 green days over the past month, along with 17.28% price volatility, suggest a maturing asset with improved stability.
According to Changelly, the short- and long-term moving averages paint an encouraging picture. The 50-day moving average maintains an upward trajectory, while the 200-day moving average has shown consistent strength since November 21, establishing a solid foundation for future growth.
Shiba Inu: signs of continued growth
Looking ahead, SHIB’s future projections look promising, with analysts forecasting a potential rise to $0.0000445 by the end of November 2024, representing an increase of over 76% from its current levels. The token is expected to reach targets of $0.0000248 to $0.0000409 by December 2024, suggesting continued bullish momentum.
Shiba Inu’s current market position is 12th in the global cryptocurrency ecosystem, with a substantial circulation supply of 15.2 trillion. This strong market presence, combined with recent price appreciation of 12.61% over the past week and monthly gains of 4.53%, positions Shiba Inu favorably for continued growth until the end of 2024.
Overall, technical analysis suggests an expected trading range between $0.0000259 and $0.0000406 for 2024, with a potential ROI reaching 125.6%. This forecast, supported by strong market fundamentals and technical indicators, portends continued positive momentum for SHIB as we approach the end of the year.