Shiba Inu surged almost 280% in March this year, on the heels of the Bitcoin halving event. The price of SHIB subsequently declined, only to surge up the charts in November 2024. After Trump won the US presidency, Bitcoin skyrocketed to an all-time high of $93,477. Broader cryptocurrency markets have recovered, helping major altcoins reach new yearly highs.
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SHIB surged almost 50% after Trump’s victory and is currently trading within a price range of $0.000024. However, the leading on-chain metrics and predictions company CoinCodex predicts that the Shiba Inu price could double this month. The company said SHIB was consolidating its pricing and was ready to make another push.
According to the latest price forecasts, the Shiba Inu could increase by another 101% by the end of the month. Predictions indicate that the dog-themed token could reach a target of $0.000048 in the indices. The tentative timeline to increase 101% and double the price is by the end of November, according to price forecasts.
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“Shiba Inu is expected to change hands in a trading channel between $0.00001965 and $0.00004862. This could translate into a potential ROI of 101.30% compared to current rates,” read the price forecast.
Shiba Inu: doubling of the price planned for SHIB
When meme coins rally, they rise significantly in the charts, leaving their previous numbers far behind. The returns could turn out to be magnificent, as a 101% rise in less than two weeks is impressive. No other financial asset, other than cryptocurrencies, can double an investor’s money in a short time.
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In addition to doubling the price, read here to know a realistic price prediction on when SHIB could reach $0.01. The penny dream is alive and well and it is the most important goal that investors are waiting for. When Shiba Inu hits the $0.01 mark, current investors (who are holding on for the long term) could make huge amounts of money.