SHIB has made a lot of big moves recently, and these hot news have given us more expectations for its performance at the end of the year. On November 11, 2024, it was reported that a whale withdrew $2.45 million worth of SHIB from Coinbase after a lapse of 3 years, and this whale currently holds 379.29 billion SHIB, worth $10.09 million, with a profit of up to $5.1 million. Wow, this is super heavy news. The movements of whales often have a great impact on the market. Does the withdrawal behavior of whales this time mean that they are full of confidence in the future of SHIB and are optimistic about its better performance in the coming time?
Also, between November 4 and 11, 2024, SHIB rose 60%, and then formed a bull flag pattern, which is a very positive sign. According to technical analysis, this means that the price may rise another 48% soon. This series of increases and positive technical patterns give us hope that SHIB will hit higher prices by the end of 2024. In addition, on November 20, 2024, 1.67 trillion SHIB left the exchange in 24 hours. A similar move last year caused the price to rise by 62%. Will history repeat itself this time and let the price of SHIB soar again? I am so excited to think about it!
So why does SHIB have such a strong momentum to continue to rise by the end of 2024? There are many reasons.
First of all, from the perspective of industry trends, the entire cryptocurrency industry will have a positive trend in 2024. Blockchain technology is constantly developing and innovating. As an important application field, cryptocurrency has received more and more attention and recognition from the society, and the policy environment is gradually becoming more friendly. In this context, SHIB, as the 11th ranked cryptocurrency, will naturally benefit from the overall development of the industry and attract more funds and investors1.
Secondly, SHIB’s own technological innovation should not be underestimated. Its team is actively developing decentralized finance (DeFi) applications and NFT projects, such as the Layer 2 solution Shibarium. These innovative initiatives are expected to achieve major breakthroughs around 2024. Once these projects are implemented and achieve good results, SHIB’s practical functions will be greatly increased, and its intrinsic value will also increase, which will effectively drive the price up14.
Another factor is the impact of the economic cycle. The global economy is likely to enter a new round of growth in 2024. With abundant capital and rising risk appetite, high-yield cryptocurrency assets like SHIB will be particularly attractive and will attract a large influx of funds. Just like a big cake, everyone wants a piece of it. The influx of funds will inevitably drive the market price of SHIB to continue to rise1.
Oh, but while we are looking forward to the rise of SHIB, we must not ignore the risks and challenges it faces. After all, investment is not a matter of only making money and not losing money, especially the cryptocurrency market, which is notoriously unstable. The price is like a roller coaster, sometimes high and sometimes low, which is thrilling.
On the one hand, as a meme coin, the value of SHIB depends largely on market sentiment and speculation. If market sentiment suddenly changes, investors' confidence is hit, and SHIB is sold in large quantities, the price will plummet, and the previous gains may be wiped out in an instant. Just like a gust of wind, a good blow can make SHIB fly higher, but a bad blow will bring it down hard.
On the other hand, the regulatory policies of various governments on cryptocurrencies are constantly changing and strengthening. At present, the global supervision of stablecoins, DeFi and other fields is being strengthened in order to protect the rights and interests of investors and maintain financial stability. As an emerging cryptocurrency, SHIB must operate under a compliant framework. If it cannot respond well to changes in the regulatory environment and ensure compliant operations, it may face great troubles and have a serious negative impact on its price.
So, my friends, I want to remind you that you must be cautious when investing in SHIB. Don't be blinded by the current increase and invest all your wealth in it. We must allocate assets reasonably according to our risk tolerance and invest a small part of the funds in SHIB. Even if we lose money in the end, it will not have a big impact on our lives.
In the process of investment, we should pay close attention to market dynamics, keep abreast of various relevant information and news, and do a good job of risk management. For example, we should set stop loss and take profit points. When the price reaches the target we set, we should make decisions decisively. Don't be greedy or hesitant.
Although there are risks, we can still have some good prospects for the future of SHIB. If it can maintain its current development momentum, continue to expand its ecology, improve its technical level, and enhance its own value and competitiveness, it may really break through the 50% upside by the end of 2024, or even create an even more amazing increase.
Imagine if the price of SHIB really rises sharply, it will be a huge fortune for those who invested in it early, and it is not impossible to achieve financial freedom. At that time, everyone can happily enjoy the rich returns brought by the investment and live the life they have always dreamed of.
