Shiba Inu Coin Price Prediction: People’s Attention Returns to the Meme Coin SHIB Price Soars by 6% Is It Time to Buy?
In the past 24 hours, the price of SHIB increased by 7.55% to $0.000026. This correlates with the overall surge in the cryptocurrency market.
Currently, SHIB is up 9.96% over the past week, showing that its price has reversed its monthly decline of 2.56%.
According to data from Binance, the altcoin has returned a whopping 192.05% over the past year.
This is significant when compared to the returns of major coins such as BTC, ETH and SOL over the past 12 months. This shows that SHIB is receiving widespread attention from investors.
The recent price action comes on the heels of the return of 2021 market catalyst Roaring Kitty, a trader known for sparking the GameStop frenzy, and good news this week about the approval of an Ethereum ETF.
Will SHIB’s price surge continue?
SHIB’s chart looks promising today, with the coin looking poised for some more gains after surging earlier this week.
The coin’s 24-hour trading volume has also increased in recent days, rising by 135.12% to $914.28 million. This demonstrates increased investor interest in SHIB.
Several factors are driving optimism about SHIB's price, including the broader market's upward trend after slowing down in March.
While technical indicators point to positive short-term price action, sustainable long-term growth may depend on fundamental factors.
Meme coins gain attention again
Iconic retail trader "Roaring Kitty" who rose to prominence during the 2021 meme stock rally recently returned to X for the first time since 2021.
This has reignited enthusiasm for a potential new wave of meme stock and meme coin trading, with traders actively looking for the next GME-like opportunity.
With SHIB already amassing a market cap of $15 billion, traders are scrambling to find the next low-cap meme coin ready to blow up the market.
The market for Shiba Inu-themed meme coins is oversaturated and has almost no real utility. Weiner Artificial Intelligence Inc. (WAI) has seen success recently, raising over $2 million in pre-sales to date.
This sausage dog-themed coin not only offers a set of trading tools powered by artificial intelligence, but also a potential passive income trove.
According to the project’s official website, 69% of the supply has been allocated to fixed investment incentives, and investors can currently receive annual interest rates of up to 409%.
At this rate, investors could double their initial pre-sale investment in just a few months.
Purchase WienerAI: https://cn.cryptonews.com/ext/wienerai-cn/
Original text: https://cn.cryptonews.com/news/shiba-inu-price-prediction-as-shib-spikes-up-6-as-attention-returns-to-meme-coins-time-to-buy. htm
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