The original Shiba Inu cryptocurrency has broken a milestone, having surged 23% at press time. The coin has surged to a new price base of $0.00001893. Can it maintain a steady pace this weekend or in the coming months? Let’s find out!
Shiba Inu population surges 22%: What happened?
Shiba Inu surged 22% in a massive price rally. The coin is currently trading at $0.0001893 after breaking out of months of consolidation. The coin outperformed several other altcoins to become a star on the radar.
According to CoinMarketCap, SHIB’s trading volume surged by 237%, ultimately leading to a revolutionary surge in the token’s price. CMC elaborated on the statistics, Shiba Inu’s trading volume reached $1,385,064,509, and the amount of SHIB traded in the cryptocurrency space is in the trillions.
The surge came after positive market momentum drove prices higher in the cryptocurrency space. Bitcoin also gained 2% in the past 24 hours and finally reclaimed the $65,000 price mark. As Bitcoin price moved well, the altcoin market also responded well to the change, with SHIB in particular catching the attention of investors and traders.
Will this craze last long?
The sharp rise in SHIB’s price has prompted investors to start wondering whether this price trend will continue in the coming months. According to CoinCodex, Shiba Inu may peak on October 3rd, setting a new high of $0.00002908.
The Shiba Inu price prediction for the next 30 days is a prediction based on the positive/negative trends of the past 30 days. According to these Shiba Inu predictions, SHIB will change hands at a price of $0.00002908 on October 3, 2024, gaining 55.48% in the process.
However, the portal added that by October 23, the price could drop by 11% to reach a stable price level of $0.00001868 by October 26.
"According to our current SHIB price prediction, the price of Shiba Inu is expected to drop by -0.11% to $0.00001868 by October 26, 2024. According to our technical indicators, the current sentiment is bullish, while the Fear & Greed Index shows a reading of 50 (Neutral). Shiba Inu has recorded 17/30 (57%) green days in the past 30 days, with a price volatility of 4.06%. According to the Shiba Inu prediction, now is a good time to buy Shiba Inu."
