Analyst Identifies Altcoins Including Shiba Inu That Can Rise 1000%
Shiba Inu (SHIB) to 10x
Launched in August 2020, Shiba Inu is the second-largest meme coin by market capitalization. Interestingly, SHIB’s price has surged by 176% YTD, currently trading at $0.00002843.
Data from IntoTheBlock shows that 66% of Shiba Inu holders are in profit, 6% are at breakeven, and the remaining 27% are seeing losses.
According to IntoTheBlock’s Holder Composition metric, most Shiba Inu investors are tagged as long-term holders. Specifically, 75% of all Shiba Inu holders have been holding SHIB for over a year. Additionally, 20% of Shiba Inu investors have been holding between 1 and 12 months, while 5% have held SHIB for less than 30 days.
The data suggests that most Shiba Inu investors are confident about the token’s prospects, which could bolster its chance of hitting the ambitious 10x target. A 10x rally would place Shiba Inu’s price at $0.00031273. The target represents a 253% surge from Shiba Inu’s previous all-time high (ATH) of $0.00008845, registered in 2021.
Besides the HODL culture of Shiba Inu investors, other factors like Shibarium, SHIB’s growing adoption, and the upcoming Bitcoin halving could also set the stage for the potential 10x rally.
