The post Shiba Inu Price Prediction: SHIB Price 260% Surge on the Horizon? appeared first on Coinpedia Fintech News
The Meme Coin market has recorded a surge of over 7.5% in the last 24 hours. Almost all the top ten meme coins have experienced growth; Dogecoin has grown by 6.7%, Shiba Inu by 6.6%, Pepe by 3.3%, ai16z by 22.8%, Bonk by 7.6%, Pudgy Penguins by 10%, dogwifhat by 9.3%, and FLOKI by 4.8%.
A recent X post by crypto analyst Javon Marks has triggered excitement among meme coin enthusiasts, especially those who have a special liking for Shiba Inu. Where is the Shiba Inu market heading?
Shiba Inu’s Price Prediction
In the last six months, Shiba Inu has increased by over 51.3%. This month alone, it has grown by at least 5.36%.
The expert’s post predicts that the price of Shiba Inu may reach as high as $0.000081. This implies that the expert expects at least 260% growth in this meme coin market.
$SHIB (Shiba Inu) finishing up the year holding a major breakout and coming off of textbook bull signals on lower timeframes!Holding broken out, the target at $0.000081 goes unchanged and these bull signals can be pointing to a continuation within an over 264% run to reach it! https://t.co/4L9HEciT3a pic.twitter.com/qkmLQURP5u
— JAVON MARKS (@JavonTM1) December 31, 2024
In the last one year, the market has recorded a rise of nearly 105.1%.
Whale Activity Signals Growing Interest in Shiba Inu
Reports say that a whale recently withdrew around 220 billion SHIB tokens, valued at over $4.63 million, from Binance. Whale movements like this often indicate strong market interest. Right now, the SHIB price stands at $0.00002239. The SHIB daily chart clearly shows that there exists a strong resistance at the $0.000029 level.
The expert asserts that the market needs to surpass the aforesaid resistance level strongly to achieve the predicted growth. Currently, the price of SHIB remains nearly 29.52% below the resistance level.
Favourable Market Conditions for SHIB’s Growth
The On-Balance Volume of SHIB now stands at $646,316,754,508,567, and the 24-hour trading volume remains at $402,513,481. The metrics indicate that the trading volume of SHIB is on the rise.
Interestingly, Bitcoin and Etheruem have shown signs of stabilisation. When major cryptos stabilise, smaller tokens often gain momentum.
In conclusion, the coming months could be pivotal for Shiba Inu as it navigates key resistance levels and leverages growing market interest.
