Shiba Inu (SHIB), the second-largest meme coin, has faced notable fluctuations recently, slipping to the 14th-largest cryptocurrency with a market cap of $15.06 billion. Despite these challenges, the coin has maintained its position above the $0.00002500 level, sparking optimism for a strong finish to November.
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Current Performance
SHIB reached a high of $0.00003031 earlier this month but has since retreated, trading at $0.00002557 after a 4.82% drop in the last 24 hours. This decline caused a shift in investor sentiment, with 62% of holders currently in profit and 29% at a loss.
However, the coin has demonstrated resilience, recording a 50% overall increase this month, which has fueled expectations of a bullish close for November.
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Price Prediction
According to CoinCodex, SHIB is poised for a significant recovery, with projections indicating a 109% surge by November 30, 2024. This would place the coin at $0.00005358, with further gains anticipated as the asset climbs to $0.00005427 a day prior.
This suggests SHIB’s recent bearish phase is temporary, and the token may enter a strong upward trajectory in the coming days, supported by community optimism and renewed market activity.
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Takeaway
SHIB's potential price surge reflects its volatility and the dynamic nature of meme coins. While the predictions are promising, investors should remain cautious and monitor market conditions closely as
the month-end approaches.
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