The price of the Shiba Inu has jumped 60% over the past month, attracting significant market attention. Despite minor corrections, SHIB dynamics indicate strong potential for continued growth in 2024. Analysts expect optimism as market sentiment favors further gains. Investors are closely watching opportunities as the meme coin approaches its all-time high.
Can Shiba Inu Price Reach ATH by 2024?
A recent tweet highlights a crucial milestone for the Shiba Inu price. According to the analyst, the summit coin could break above the $0.000033 resistance level to set the stage for a potential rally.
The analyst pointed out that breaking this resistance could accelerate the Shiba Inu’s journey to a new all-time high (ATH). The attached chart shows an ascending trendline, suggesting bullish momentum as the price approaches the resistance zone.
Shiba Inu price would need a 64% increase to return to its all-time high of $0.00008854, last seen in 2021. The cryptocurrency has recently gained momentum during the market rally of September, doubling its value alongside broader market gains.
The token remains a strong point in the cryptocurrency market as meme coin season attracts investors’ attention. Renewed enthusiasm for meme tokens including Pepe and WIF has fueled speculation that SHIB could hit a new all-time high.
Increased blight activity also contributes to the Shiba Inu market buzz. Over the past 24 hours, over 303 million SHIB tokens were burned, an increase of 1,652%. Over the past week, burning activity totaled over 3.1 billion tokens, an increase of 95%.
SHIB SCHEDULE UPDATE$SHIB Price: $0.00003105 (1h 0.35% ▲ | 24h -0.21% ▼)
Market capitalization: $18,290,800,947 (-0.38% ▼)
Total supply: 589,257,405,394,024BURNED TOKENS
Time spent: 250,000,000 (1 transaction)
Last 24 hours: 303,427,800 (1,652.32% ▲)
Last 7 days: 3,148,487,476 (95.69%…-Shibburn (@shibburn) December 6, 2024
The ongoing cryptocurrency bull run, marked by BTC above $95,000 and Ethereum above $3,800, could influence SHIB price to reach ATH .
SHIB Price Eyes Bullish Breakout
Over the past week, the Shiba Inu has surged more than 20%, briefly reigniting investor optimism. However, the price has since retreated, leaving analysts to speculate on a potential resurgence. At the time of writing, the SHIB Price is trading at $0.00003111, reflecting a 1% rise, indicating continued bullish sentiment.
THE Shiba Inu Price Prediction is hovering around the $0.00003 level, a key threshold for its next move. If this level is breached, the price could rise to $0.00005. A new rally could target $0.00008845, which would represent a potential gain of 64% from current levels.
On the other hand, if the price fails to sustain above $0.00003, it could drop to $0.000025. This would represent a significant loss and test the coin’s support levels.
The relative strength index (RSI) is currently at 65, which suggests bullish momentum but not yet overbought. The Chaikin Money Flow (CMF) shows slight positive inflow, signaling moderate buying pressure.
Shiba Inu’s path to a new ATH depends on breaking key resistance levels and maintaining bullish momentum. With strong market sentiment and increased burn rates, 2024 could be pivotal for SHIB.
Frequently Asked Questions (FAQ)
Shiba Inu’s ATH is $0.00008854, reached in October 2021.
SHIB needs a 64% increase from its current price to reach its ATH.
SHIB needs to break above the $0.000033 resistance level.
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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