Shiba Inu Price Prediction as SHIB Rallies 6% in 24 Hours – $10 SHIB Possible?

It seems that SHIB is ready to resume the rally it had begun last week, following a brief dip earlier this week.

Its relative strength index (purple) has begun rising again today after dropping from 95 to about 80 over the past few days, signaling that momentum remains very strong.

SHIB’s 30-day moving average (yellow) is also on the warpath, given that it’s rising very aggressively at the moment and climbing further beyond the 200-day (blue).

This is a clear sign that the meme token is in the middle of a big growth spurt, one which could continue for several weeks if not months, give or take the odd profit-taking dip.

Indeed, recent days have brought an increase in big SHIB transfers, suggesting that whales are returning to the meme coin after months of indifference.

This bodes well for the coin’s near future, with accumulating by whales often signaling likely price increases.

At the same time, SHIB finds itself in the middle of a new bull market, which has followed from rising Bitcoin ETF volumes, not to mention excitement over the next BTC halving and also the possibility of Ethereum ETFs.

Such sources of bullishness are likely to boost prices across the board, yet SHIB could benefit more than most.

On the one hand, this is because it spent so much of 2023 not doing much, so it could over-perform this year.

On the other, SHIB arguably has the strongest fundamentals of any meme coin in the market, especially in view of last year’s launch of Shibarium and the upcoming launch of SHIB: The Metaverse.

The Shiba Inu price could therefore reach $0.000040 in the next couple of weeks, before climbing towards $0.000050 or $0.000060 in subsequent months.

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