Here are 5 key reasons why Shiba Inu (SHIB) could see a major price pump in 2024:✅💥🔨
1. Profitability of SHIB addresses has risen to over 25%, up from 24% previously, indicating growing investor confidence.
2. SHIB has seen a 300% surge in large transactions to reach $178 million over the last 24 hours, suggesting whales are accumulating the dip.
3. The SHIB burn rate remains high, with millions of tokens still being sent to dead wallets daily despite the recent price slump.
4. The Shiba Inu community is rallying behind a new rival meme coin called Shiba Budz (BUDZ), which they believe is poised for a major pump. If BUDZ pumps, it could trigger a ripple effect across the meme coin market, potentially boosting SHIB as well.
5. Shiba Inu's increasing popularity and active buyer base could help its value rise to $0.00001040 in a more bullish market environment, according to InvestingCube.com.
While SHIB is currently trading below the $0.000009 support level, these factors suggest the meme coin may be ready for a major rebound in 2024 if the positive momentum continues to build.