Is Shiba Inu Ready For A Record Above $0.00008? Analyst Agrees
Shiba Inu (SHIB), a meme currency about dogs, may be about to hit new highs this bull cycle. Shiba Inu is expected to rise over its all-time high of $0.000086 due to its recent bullish performance.
Shiba Inu Looks for Record Highs
The price of Shiba Inu rose from $0.00001 to $0.00002. This large price gain in recent weeks suggests that the meme currency may be primed for a parabolic spike in Q4 2024.
The meme coin's strong performance has led crypto expert and Shiba Inu enthusiast ‘SHIB Knight’ to be optimistic about its pricing. The analyst posted a Shiba Inu price chart on X (previously Twitter), predicting the meme currency was about to reach $0.00008.
SHIB knight said Shiba Inu was set for a new all-time high, confirming his optimistic prognosis.
Shiba Inu reached a record $0.000086 in October 2021, up 75.59% from its current price. SHIB has been gaining momentum as September ends, suggesting a significant rise in October. To return to its peak, the cryptocurrency would require a 330% increase from $0.00002.
SHIB Knight has confidently predicted that Shiba Inu might break above $0.000086 in bull cycle, but he has not set a date or price goal.
Strong Momentum for SHIB
Despite market dips, Shiba Inu prices have risen double-digits in recent weeks. The meme currency Shiba Inu had seen price drops earlier this year, but it seems to be recovering, signaling investor interest.
SHIB rose 48.20% in the last month, according to CoinMarketCap. The cryptocurrency also rose 45.84% in the last week, demonstrating its strong price dynamics.
Other meme currencies like Dogecoin (DOGE) and Pepe (PEPE) have also been rising in value this week. Over the previous week, Pepe has climbed 38% and Dogecoin 17%.
This rapid positive trend reflects a major shift in investors' meme coin market attitude. Crypto expert ‘AllInCrypto’ on X also noted meme coins' recent strength and Shiba Inu's strong price dynamics.
