【Shiba Inu Price Prediction: This is Why SHIB is Set to Soar】
Shiba Inu (SHIB) has seen a price increase for four consecutive days, currently at $0.000028, up 145% from the August low, but still below the monthly high of $0.000030. Technical analysis indicates that Shiba Inu is forming a 'cup and handle' pattern, suggesting a possible breakout above $0.000030 in the short term, potentially rising to $0.000085. If it falls below $0.000020, it may drop to $0.000010.
SHIB formed a 'golden cross' on October 31, a technical signal that usually indicates a bullish price trend. The last golden cross occurred in October last year when the price rose to a high of $0.000045. Indicators like RSI and MACD also show upward momentum, supporting bullish expectations.
The rise of SHIB is supported by several factors. First, Bitcoin is approaching the psychological barrier of $100,000, boosting market sentiment, and meme coins often perform strongly during this period. Second, the burn rate of Shiba Inu remains high, with over 410 trillion SHIB burned in the past, reducing circulation and supporting price increases. The ongoing development of the Shibarium blockchain and the ShibaSwap decentralized exchange also provides foundational support for SHIB, with Shibarium processing over 550 million transactions.
From a macroeconomic perspective, Shiba Inu may benefit from the Federal Reserve's interest rate cuts and the potential for crypto-friendly policies from the Trump administration. Analysts predict that an ETF for Shiba Inu could be launched in 2025, further increasing market demand. Nevertheless, investors should remain wary of potential pullback risks.