The price of the Shiba Inu, a popular meme-based coin, has attracted considerable attention this month. With a 230% increase in value over the past year, SHIB has sparked investor enthusiasm. Despite some market fluctuations, the token’s strong performance signals further growth potential in 2024. Analysts suggest SHIB could be on track to surpass its all-time high (ATH) after breaking a downward trend of a year, fueling hopes of even greater gains to come.
Is ATH shortly after Shiba Inu price broke its 4-year downtrend?
Shiba Inu price is showing signs of a major breakout after breaking a significant four-year downtrend. The cryptocurrency, which has seen a steady decline since its all-time high in October 2021, could be on track to surpass that high if its current bullish momentum continues.
The last time SHIB reached its highest value of $0.00008845 was over four years ago on October 28, 2021. Since then, the token has seen a steep decline of 65.62%, causing concern among investors. However, recent price movements suggest that a reversal may be in progress, as SHIB finally broke its extended downtrend.
Analysts now believe that the Shiba Inu could reach a new all-time high if the upward trend continues. With growing investor confidence and increasing market activity, the Shiba Inu Price Prediction may simply be preparing for another surge that could eclipse its previous ATH.
SHIB Price Rise Sparks Bullish Optimism
Shiba Inu has seen an impressive increase of over 80% in the past month, including a 22% increase in the last week. THE SHIB Price is currently at $0.0000303, showing signs of this upward trend continuing with a 3% daily increase. This rally echoes memories of SHIB’s explosive performance in 2021, fueling speculation that a similar rise could be on the horizon.
Bitcoin’s recent rally above $96,000 has further fueled the bullish sentiment in the crypto market. If Bitcoin rises above $100,000, many believe it could propel SHIB’s price towards ATH. Major altcoins such as ETH, BNB, and TRX are also experiencing price growth, adding to the positive market atmosphere.
Best Coinsincluding Dogecoin, PEPE and Floki, have also seen upward momentum, contributing to the broader trend. Whale activity at SHIB has been particularly notable, with growing interest from large-scale investors.
Adding to the bullish outlook, the Shiba Inu ecosystem is evolving with significant updates, notably in the Shibarium and Shibburn projects. SHIB’s burn rate has reached new heights, with over 2 billion tokens burned in the last 24 hours.
SHIB SCHEDULE UPDATE$SHIB Price: $0.00003004 (1h -0.37% ▼ | 24h 2.45% ▲)
Market capitalization: $17,745,369,143 (2.54% ▲)
Total supply: 589 257 726 144 350BURNED TOKENS
Last 24 hours: 2,043,819,527 (144223.06% ▲)
Last 7 days: 4,253,530,390 (1995.88% ▲)-Shibburn (@shibburn) December 4, 2024
Shiba Inu price has broken its four-year downward trend, signaling further growth potential. Growing investor confidence and market sentiment are behind the rise. With continued momentum, SHIB could surpass its previous all-time high.
Frequently Asked Questions (FAQ)
Analysts believe that SHIB could surpass its ATH if the momentum persists.
SHIB’s ATH was $0.00008845, reached in October 2021.
Exiting a downtrend, ecosystem growth and market optimism.
Quince stick
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Disclaimer: Content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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