Shiba Inu (SHIB) is currently the focus of the cryptocurrency market after achieving a golden cross – a signal that often indicates a long-term growth trend. However, with the market's continuous volatility, will this cryptocurrency maintain its appeal and growth, or face the risk of 'going to zero' by 2024?

Currently, SHIB is trading at $0.00002462, down 3% in the past 24 hours but up 2% for the week and up 31% for the past month, thanks to the growth momentum following Donald Trump's presidential victory. This indicates that market sentiment is supporting this cryptocurrency in the short term.

SHIB's technical chart is showing a bullish pennant pattern – a positive signal indicating that the price could break out in the short term, potentially within the next 1-2 days. Furthermore:

  • The 30-day moving average (30-day MA) of SHIB remains above the 200-day moving average (200-day MA), further reinforcing the long-term growth trend.

  • Impressive trading volume reached $2 billion, an increase of 233% compared to 30 days ago, is evidence of strong demand from the market.

Factors driving the value of Shiba Inu

  1. Shibarium – Layer 2 of the SHIB ecosystem
    Launched in August 2023, Shibarium has achieved over 4.5 million transactions, driving the development of the Shiba Inu ecosystem. This technology not only reduces transaction costs but also increases processing speed, allowing SHIB to better compete with other blockchain projects.

  2. Token burn strategy
    Token burn activities have accelerated, reducing SHIB's supply and creating long-term upward price pressure. This plays a crucial role in maintaining the value and stability of this cryptocurrency in the market.

  3. SHIB: The Metaverse
    The development of SHIB: The Metaverse promises to enhance usability and attract more users. This is a strategic step for SHIB to not only be a meme coin but also to become a true technology platform.

Predictions and growth potential

With the current positive signals, many experts predict that SHIB's price could:

  • Reaching $0.000030 in the coming weeks if the market maintains an optimistic sentiment.

  • Reaching $0.000040 by 2025 as SHIB's ecosystem and technology mature.

However, to achieve these goals, Shiba Inu needs to maintain high trading volumes and effectively leverage projects like Shibarium and SHIB: The Metaverse. At the same time, the Bitcoin market and the cryptocurrency market in general need to maintain the current growth trend.

Could Shiba Inu 'go to 0' by 2024?

The likelihood of SHIB 'going to 0' is very low, as this cryptocurrency is currently:

  1. Strong community: SHIB remains one of the most popular cryptocurrencies in the world.

  2. Technological growth potential: Shibarium and Metaverse are key factors enhancing real value.

  3. High liquidity: With trading volumes in the billions of USD, SHIB is unlikely to be forgotten.

However, risks still exist, especially if the cryptocurrency market enters a prolonged downturn or SHIB's development projects do not meet expectations.

Conclusion

Shiba Inu is at a critical stage, with significant breakout potential but also numerous challenges. If strategic projects are effectively implemented and the market maintains an upward trend, SHIB could continue to grow strongly. Conversely, fierce competition from rivals and changing market sentiment could hinder this progress. Investors who believe in SHIB's long-term potential may see this as an opportunity to participate, but they must always be cautious and thoroughly assess risks before making decisions.