Shiba Inu Recent attention has been drawn to (SHIB), one of the most popular meme coins on cryptocurrency. SHIB and Dogecoin are often compared in terms of their market positions. It is notable that the token performed very well in 2024.
SHIB began the year trading for less than $0.000010. In mid-February, the token experienced a major rally. It increased by over 450%. Despite the fact that the price today is only 69% of what it was in 2021 at its all-time highest, this recent movement in price suggests a renewed market interest.
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As of right now SHIB After a consolidation period, the token is currently trading around $0.00002668. Token appears to be at a point where it can potentially see its biggest price increase. next Price movement. Price movement.
This weekend, how high can Shiba Inus go?
Shiba has risen by 10.4% within the last 24-hours. CoinGecko reports that SHIB also aims to reach the $0.00003 mark. data.
As per Changelly analystsSHIB should trade this weekend at a price between $0.00003105 (minimum) and $0.00003587 ($maximum). SHIB could also reach $0.00003, according to the forecast.
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Bitcoin’s price movement has historically been used as a trigger for other crypto currencies. SHIB’s biggest price rises coincided with BTC’s new highs as it climbed towards $73,000. Bitcoin’s ability to breach previous resistance levels is often a leading indicator for the overall market, especially when it comes to more speculative alternative coins.
It is possible that relying solely on Bitcoin’s price movement may not suffice to sustain further gains in SHIB. This could be especially true if there are no significant announcements or development. The developers of the SHIB token are focused on improving the economic model and increasing adoption.
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The possibility of price volatility around these psychological obstacles should be considered by traders, especially if Bitcoin’s rally suffers setbacks. Shiba Inu, however, has an overall trajectory that suggests it could surpass its prior all-time highest sometime in this year.
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Source: watcher.guru