The price of Shiba Inu has increased by 12% in the past 24 hours, reaching $0.00002614 on the day Bitcoin hit a new all-time high of over $82,000.
SHIB is now up 52% in a week and 45% in a month, with the post-election surge helping the meme token return to the top 10 market cap.
Given the strong growth momentum of this coin over the past few days, it is certain to break its own all-time high of $0.00008616 next year and eventually reach $0.00010.
Shiba Inu Returns to Top 10 – Can SHIB Remove the Next Zero?
SHIB was the tenth best performing coin in the top 100 over the past week, behind altcoins like Dogecoin, Cardano, Cronos, and Neiro.
The stock's performance today puts it in strong bullish position for most of the coming week, with the relative strength index (purple) rising from 50 to 60 in the past few hours.
This signals increased buying pressure, with SHIB trading volume at a very healthy $9 billion.
This figure represents a whopping 900% increase in just a few days, a sign that traders and investors are flocking to SHIB.
With this increase, we will see some whale investors taking profits here and there in the next few days, meaning the coin will occasionally dip.
But the overall trajectory is set to increase in the coming months, as some SHIB holders are starting to become optimistic about the possibility of the meme coin rising to $0.00010.
This is definitely a long-term goal that SHIB should be aiming for, but we may not see it for a few more months, even with the coin rallying right now.
To reach its current ATH, the company would have to grow 228%, as well as a market capitalization of around $50 billion.
This is doable, but may require more positive news, either regarding Shiba Inu fundamentals or any pro-crypto policies the Trump administration may introduce when it takes office in January.
But even those currently holding SHIB will have to be patient, the coin will eventually hit $0.000010, especially since it is still probably the strongest meme token on the market fundamentally.