Shiba Inu (SHIB), the popular meme coin, could be on the verge of surpassing its all-time high of $0.000086 in this bullish cycle, thanks to its recent positive momentum.
SHIB on Track for New Highs
The price of Shiba Inu has experienced a significant rise, moving from $0.00001 to $0.00002 in recent weeks. This notable price surge suggests that the meme coin may be heading for a parabolic spike in Q4 2024.
Optimism about SHIB’s future has been confirmed by cryptocurrency analyst and Shiba Inu enthusiast ‘SHIB Knight’. In a post on X (formerly Twitter), he shared his prediction that SHIB could reach $0.00008, indicating a potential new all-time high.
Can SHIB Surpass Its All-Time High?
In October 2021, Shiba Inu reached its record high of $0.000086, 75.59% higher than its current value. However, SHIB’s recent momentum suggests that a significant rise could be possible in October. To return to its peak, SHIB would need to grow by 330% from its current level of $0.00002.
Although no specific date or price target has been set, SHIB Knight remains confident that SHIB could break its previous record during this bullish cycle.
$SHIB $
Strong Momentum for SHIB
Despite market volatility, Shiba Inu has posted double-digit gains in recent weeks. While SHIB’s price had dropped earlier this year, it seems to be recovering, reflecting renewed investor interest.
In the last month, SHIB has increased by 48.20% and 45.84% in the past week, according to CoinMarketCap, demonstrating its strong performance.
Other meme coins like Dogecoin (DOGE) and Pepe (PEPE) have also shown positive price movements. Last week, Pepe rose by 38%, and Dogecoin by 17%, signaling a significant shift in investor sentiment toward these coins.
This surge in meme coins highlights renewed confidence in this sector, something cryptocurrency expert ‘AllInCrypto’ also pointed out on X, emphasizing Shiba Inu’s strong price momentum.
Is this the moment Shiba Inu will break through $0.00008 and set a new record? Only time will tell.
#
