Could #ShibaInu ($SHIB ), one of the leading names in dog memecoins, surpass its peak price soon?
Shiba Inu Coin's #SHIB price seems ready for a short-term rapid rise while Bitcoin is hovering around $ 61,000. While altcoins are experiencing a small but positive movement cycle in dog memecoins, especially Shiba Inu. So, can SHIB, which has swept the bull season, explode again?
While Bitcoin seems to have a very active last quarter of 2024, analysts expect an increase. The leading cryptocurrency, which is currently traded at around $ 61,000 after the last 2 percent increase, could pave the way for sharp declines in memecoins. With Bitcoin's upward movement, SHIB is likely to retest the peak that reached 0.00008845 in late October 2021.
The Shiba Inu price needs to increase by 435 percent to return to the all-time high of $0.00008854 seen in 2021. It has given hope for the rise in recent days. Because Shiba Inu has been one of the fastest recovering altcoins. If the memecoin craze continues, it is expected that money inflows to centralized projects DOGE, PEPE, SHIB and FLOKI will increase.
In addition to these, the distribution of news about SHIB will play a critical role. For example, significant developments such as Shiba Inu's partnership participation with large companies or increasing its close activities will push prices to even higher levels. However, it is always necessary to pay attention to the volatility in memecoins. In a scenario where BTC pulls back, SHIB may sign sharper declines.
