The cryptocurrency market saw a major boost today as Bitcoin (BTC) surpassed the $100,000 mark. While some assets have followed suit, others have struggled, such as Ripple’s XRP. Meanwhile, the meme coin market was going to get lucky. Shiba Inu (SHIB) was up, while most assets fell at press time.
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The Shiba Inu Status Quo
The last month has been extremely crucial in the Shiba Inu market. The meme coin surged almost 80% during this period. The asset was trading at $0.0000315 at press time following a 3.75% rise in the last 24 hours. This comes after a period of volatility. Earlier today, Shiba Inu was valued at a low of $0.00002095 and reached a high of $0.00003296.
Trading volume is another important statistic that contributes to SHIB’s positive trend. Over the previous 24 hours, daily trading volume increased by 40% to $4.62 billion, further highlighting investors’ desire to buy SHIB. Additionally, the meme coin’s market cap reached a high of $18.54 billion, pushing SHIB to 12th place.
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Price forecast for December
The Shiba Inu community is indeed going to have a Merry Christmas. According to CoinCodex data, SHIB is expected to trade between $0.00003010 and $0.00006435 before the end of the year. SHIB price increased by 23.54% from current prices. In other words, if SHIB performs as expected, investors could profit 103.15%.
On December 10, the meme coin is expected to trade at a high of $0.00005372. This further translates into an increase of almost 70% from its current price level.
Additionally, over the next few days, the asset is expected to witness over 100% growth. This could push the total number of SHIB investors to make profits to a higher level.
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