The crypto market is finally breathing new life after a long slump. As one of the most popular cryptos, Shiba Inu is also leveraging the market shift.
The meme coin is steering through a consolidation period after an uptrend in March. Despite the recent market dip, the SHIB has secured a whopping 198.15% growth in the past month.
The token also witnessed a massive increase in trading volume, reaching 31 billion dollars in one week alone. Currently, it is trading at 0.00002896 dollars, and experts see an all-time high for Shiba Inu on the horizon.
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According to the latest SHIB coin price prediction, the coin can maintain the 0.0000250-dollar mark in 2024. Its latest volume and price increase highlight growing speculative trading and growing interest.
Experts’ predictions about SHIB hitting an all-time high are not unfounded based on the overall market sentiment and Shiba Inu’s performance. The meme coin was expected to have a price surge in October and has gained 531% value ever since.
If the coin can break through the target of 0.000081 dollars, it is anticipated to move another 147%. Doing so can open the path for more growth, making 0.0001553 dollars a viable possibility.
Michael van de Poppe, the founder and CEO of MN Trading Consultancy, also made a compelling argument regarding the altcoins’ market rally. Michael believes that the crypto market has a 40% to 60% market cap to gain. The CEO also suggested that SHIB is poised for a considerable rebound.
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Even then, it should be noted that cryptocurrencies are highly volatile, and predicting their movement can be tricky. Thus, investors must conduct thorough research before investing in any crypto asset.
