With speculation swirling in the crypto market, experts are casting doubt on whether Shiba Inu (SHIB) will ever hit the elusive $1 mark. Meanwhile, the recent price surge of Dogecoin (DOGE) has reignited interest among investors. Here’s a breakdown of the latest insights and trends for both tokens.
Shiba Inu’s $1 Goal Is Out of Reach, Says Analyst
According to a recent report from Investing Haven, the prospect of Shiba Inu reaching $1 is slim. The primary obstacle lies in SHIB's enormous circulating supply—589.26 trillion tokens. Without a massive reduction in supply, hitting $1 would likely require an unrealistic level of demand.
Additional factors hindering SHIB’s growth include its limited real-world utility and reliance on hype-driven demand. While the token has recently seen a small boost thanks to renewed interest surrounding the U.S. elections, these gains may not be sustainable long-term. SHIB’s price recently rose from $0.0000165 to $0.0000195, with a 14-day RSI indicating an uptrend close to 50. Crypto analysts are cautiously optimistic, forecasting a potential rise to $0.00002156 in the near term.
IntelMarkets: A More Promising Candidate for $1
As Shiba Inu struggles to maintain momentum, IntelMarkets (INTL) is emerging as a strong contender for future growth. Priced currently at $0.045727, IntelMarkets has raised nearly $2 million and is attracting attention due to its integration of AI technology.
IntelMarkets stands out with its advanced AI trading bots, capable of adapting to market shifts and learning from each trade. The platform supports multiple networks, including Solana and Ethereum, giving users flexibility in their trading preferences. Additionally, IntelMarkets’ native token (INTL) allows holders to stake for passive income, making it appealing for investors seeking a combination of growth and yield.
Dogecoin Crosses $0.2 Mark Amid Renewed Interest
Dogecoin has enjoyed a substantial uptrend recently, fueled by optimism surrounding the U.S. elections. Data from CoinMarketCap shows DOGE rose by 12.0% over the past week, hitting $0.3 from a low of $0.145. With a 14-day RSI above the midline, Dogecoin's technical indicators are showing strong bullish support.
Should this momentum hold, DOGE could soon breach its resistance level at $0.2288, possibly setting a new yearly high. Analysts, however, caution that if the upward trend reverses, support levels around $0.1423 could come into play.
Final Thoughts
While Shiba Inu’s path to $1 seems increasingly improbable, alternative tokens like IntelMarkets are gaining traction with their unique features and potential for utility. As the crypto market evolves, investors may find greater promise in assets with strong use cases and technical innovations.
