Shiba Inu (SHIB) has emerged as one of the top performers among major cryptocurrencies, posting an impressive 30% gain over the past month.
This surge has catapulted SHIB to the 13th spot in the global cryptocurrency rankings by market capitalization.
Shiba Inu also outperformed its peer Dogecoin with its price surge. According to data from CoinGecko, SHIB’s upward trajectory has been consistent across various timeframes, showing gains of 3.8% in the past week, 4.3% over two weeks, and a 30% in the last 30 days.
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Even more impressive is the token’s one-year performance, boasting a 167.6% increase.
What’s next for Shiba Inu?
As SHIB continues its upward march, analysts are weighing in on its future prospects. Changelly’s technical analysis paints an optimistic picture for Shiba Inu in 2024, projecting a minimum price of $0.0000152 and a maximum potential of $0.0000269.
The average trading price is expected to hover around $0.0000386, suggesting continued growth potential for the popular meme coin.
The meme coins’ ability to not only maintain relevance but also outperform more established cryptocurrencies has reignited discussions about the role of community-driven projects in the broader crypto ecosystem.
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For now, SHIB holders are celebrating their token’s impressive run, while the rest of the market watches closely to see if this canine-themed cryptocurrency can maintain its momentum and replicate its 2021 bull run.
