SHIB price breakthrough is imminent! Can the key threshold be crossed in one go?
In the past month, the price of Shiba Inu coin has surged by 60%, attracting widespread attention from the market. Despite some minor pullbacks during this period, SHIB's strong momentum indicates that there is still significant growth potential in 2024.
Will Shiba Inu coin set a new historical high by 2024?
According to analysts, this popular meme token is likely to break through the resistance level of $0.000033, laying the groundwork for the upcoming rebound.
Once this resistance level is breached, the speed at which Shiba Inu coin sets a new historical high may accelerate. The chart shows an upward trend line, indicating that as the price approaches the resistance zone, the upward momentum is very strong.
Shiba Inu coin needs to rise by 64% to return to the historical high of $0.00008854 set in 2021. During the market rebound in September, this cryptocurrency gained strong momentum, doubling its value along with the overall market.
Currently, the meme coin season is attracting the attention of retail investors, and Shiba Inu coin remains a major focus in the cryptocurrency market. The resurgence of popularity for other meme tokens like Pepe and WIF has also led to speculation about whether SHIB can set a new historical high.
Additionally, the increase in burning activities has continuously boosted the market popularity of Shiba Inu coin. In the past 24 hours, over 303 million SHIB tokens have been burned, an increase of 1652%. In the past week, the total number of tokens burned exceeded 3.1 billion, with an increase of 95%.
The current bull market in the cryptocurrency space, especially with Bitcoin surpassing $100,000 and Ethereum hovering above $4,000, may also impact SHIB's price reaching a historical high.
Currently, the price prediction for Shiba Inu coin hovers around $0.00003, which is a key threshold for its next movement. If this level is broken, the price could rise to $0.00005. Further progress could target $0.00008845, indicating a 64% increase from the current level.
