While expectations for Shiba Inu were low in November, overshadowed by larger coins like Dogecoin and the disappointing 'Uptober' coin, the price of SHIB seems to have returned to levels in line with bullish forecasts through 2025.
This token has made strides with a 20.97% increase today, bringing SHIB back into focus and setting high expectations for December, surpassing last month's gain of 84.81%.
Indeed, Shiba Inu has risen to the top position in the meme coin space, with trading volume increasing by 325% currently, reaching nearly $6.5 billion.
SHIB Price Analysis: Could Shiba Inu Lose Another Zero by 2025?
According to a recent post by renowned analyst Oscar Ramos on X, SHIB's 400% increase and valuation of $0.00003 are just the beginning.
The analyst emphasizes that market conditions are favorable for SHIB. He notes that this token continues to maintain strong support despite the recent market fluctuations.
These supports have formed a bullish flag pattern, with today's breakout being the climax. Fully realized, the model sets a short-term price target of $0.000035, up 8.76% from the current price.
However, the Relative Strength Index (RSI) at 80 signals overbought conditions, increasing the likelihood of a correction.
Looking more broadly, Ramos notes that while Dogecoin maintains a market cap of $22 billion, SHIB's $10 billion valuation indicates growth potential based on historical patterns.
In the remaining time of 2024, he warns not to expect breaking the same level in the next 60 days. The analyst considers this a more realistic target for 2025.
However, the technical strength combined with upcoming market catalysts, including FOMC meetings and CPI data, lays the groundwork for another potential bullish trend.
This Early Opportunity Could Be a Better Play
Although another SHIB rally is certainly appealing, it is the newer meme coins that are leading the gains in this cycle.
As the 'super meme coin cycle' sentiment emerges and coins like $ACT and $Pnut suddenly gain popularity, strategic investors are on the lookout for newer meme coins with lower market caps and high potential.
Among them, Catslap ($SLAP) stands out as a formidable competitor to Popcat, Mogcat, and Mew.
Catslap is not just an ordinary meme coin; it is an addictive gaming experience, calling its owners to compete, click to boost their country's score, and increase their ranking on the Slapometer.
This is closely related to what analyst Murad Mahmudov noted about the shift in the model towards 'moving coins' ready to reshape the cryptocurrency landscape.
These community-focused meme coins have the potential for exponential growth, forming deep ideologies and engagement. One thing that can be credited for its immediate success is accumulating a market cap of $26.5 million so far!
And the profits don't stop there. $SLAP also brings passive income opportunities, offering a 40% APY for investors who have staked. While the market weakens amid Bitcoin's recent volatility, Catslap investors have realized stable profits!
