The Shiba Inu (SHIB) is known for its massive price spikes. The meme coin, despite being relatively new to the market, has managed to attract worldwide attention. The rise in assets over the past month is proof of SHIB’s growth rate. Therefore, a possible 200% rise throughout November would not be surprising.
Read also: Warren Buffett’s $3 Billion Sale: Time to Reevaluate Your Stock Portfolio?
Shiba Inu back in action
Shiba Inu has kept a low profile after its recent rise to prominence. But after its hiatus, the meme coin was back in action. Over the past 24 hours, SHIB is up over 4%. At press time, the meme coin was trading at $0.0000248.
Amid this price surge, SHIB’s 24-hour volume reached a high of $1.46 billion. This follows a 28% increase. With all these notable bullish signs, overall market sentiment seemed positive. According to data from CoinMarketCapthe Shiba Inu community seemed very optimistic about a potential price increase. Out of 86,266 votes, 89% of them believe that the Shiba Inu could increase in the coming days. 11% of them were skeptical.
Read also: ChatGPT reveals when Dogecoin will hit a high of $1.5
Price prediction
According to Changelly data, the bulls were siding with the Shiba Inu market. The second largest meme coin is expected to trade at an average price of $0.0000399 throughout November. Additionally, the highest price SHIB will be set at is $0.0000544. This further marks a 202% increase from its current price level.
The Shiba Inu has already managed to increase by almost 40% in the last 30 days. Despite the slow week, SHIB’s previous rise speaks volumes. This further reveals that the meme coin will be able to continue this streak and eventually reach a staggering 200%. The community will soon be able to enjoy the benefits of investing in the same area.
Read also: Solana: AI predicts SOL price for November 30, 2024