Shiba Inu Coin Price Prediction: Investors Turn $2,625 into $1.1 Million Is Another Major Rally About to Begin?
SHIB has recovered after a small decline this morning, with the Shiba Inu coin price once again reaching $0.00002546, down slightly by 0.1% in 24 hours.
The meme coin is down 0.4% over the week, but is up 8% over two weeks and 3% over a month.
These increases are small, but SHIB actually rose 188% in one year. Yesterday’s data also showed that a giant whale earned 419 times its income through SHIB in three years.
This highlights that SHIB continues to generate huge benefits for traders and is likely to continue to do so for some time to come.
Shiba Inu Coin Price Prediction: Investors Turn $2,625 into $1.1 Million – Another Major Rally Is About to Begin?
Today may mark the beginning of SHIB’s short-term rally, as the coin’s indicators are showing some energy and urgency.
Its Relative Strength Index (purple) has risen above 50 in the past few hours and is heading towards 60, providing room for further price gains.
Shiba Inu price chart.
Source: TradingView
After climbing above the 200-day EMA (blue) yesterday, the 30-day EMA (orange) is rising again after a brief pullback, suggesting that the coin has at least a few more days of gains ahead.
Encouragingly, SHIB’s 24-hour trading volume has doubled today, likely due to the market interest sparked by news that a whale made a 419x profit by holding about 4.8 billion SHIB for about three and a half years.
Gains like this show that, with enough patience and timing, SHIB could be one of the best vehicles on the market for substantial returns.
SHIB is likely to witness larger price gains once the overall market picks up, which could happen next month following the launch of the recently approved Ethereum ETF.
The price of Shiba Inu Coin is likely to rise along with the overall market, while the coin itself may also benefit from its own fundamentals.
Last month, for example, news emerged that developers were building a privacy-focused three-layer network for the coin that would increase its utility.
Combined with the existing Shibarium network and the overall Shiba Inu ecosystem, this launch should help Shiba Inu Coin prices rise in the long term.
It could hit $0.000030 in the next month or so, and then $0 before the end of the year.000060.
New meme token leads to new market-beating rally
Since SHIB has underperformed in recent months, some traders may become frustrated and consider looking for more promising alternatives.
There are a variety of new meme tokens on the market right now, and while some of them are undoubtedly lower quality, some offer interesting fundamentals.
One of the newest and most interesting of these is PlayDoge (PLAY), an Ethereum-based cryptocurrency that will serve as the native token for its own “play and earn” pet game.
It just launched a pre-sale, and despite only opening yesterday, it has already raised over $200,000.
This is a very promising early sign, and the PlayDoge game itself is probably the biggest indicator that PLAY will have a strong launch and long-term growth.
PlayDoge works similarly to Tamagotchi, the famous electronic pet from the late 1990s, allowing users to breed and care for their own Shiba Inu dogs.
They can also take their virtual pets on side-scrolling adventures and missions, earning rewards in the form of PLAY.
As a token, PLAY has a maximum supply of 9.4 billion, of which 30% is used for pre-sale, 20% is used for community rewards, 6% is used for staking, 11.5% is used for liquidity, and 32.5% is used for marketing and Project funding.
Its fixed supply makes it a potentially deflationary memecoin, while the token’s staking functionality should remove large amounts of supply from circulation.
When combined with the demand generated by being the native token of a potentially popular “play and earn” game, PLAY could soar quickly upon listing.
Investors can participate in the sale on its official website, and the price of 1 PLAY is $0.00451.
Visit PlayDoge official website: https://cn.cryptonews.com/ext/playdoge-cn/
Original text: https://cn.cryptonews.com/news/shiba-inu-price-prediction-as-investor-turns-2625-into-1-1-million-another-major-rally-starting.htm
