Will Shiba Inu Price Hit ATH Before Year End?

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As a seasoned researcher with years of experience in the volatile world of cryptocurrencies, I’ve seen my fair share of market highs and lows – much like the rollercoaster ride that is Shiba Inu (SHIB). The recent dip, though disheartening, doesn’t deter me from seeing its potential.

Recently, the well-known meme-based cryptocurrency Shiba Inu (SHIB) has seen a notable drop due to a wider market adjustment. However, it’s worth noting that this digital token has skyrocketed by an impressive 113% over the past year.

Despite making an effort to bounce back, the digital currency (altcoin) is currently grappling with difficulties in maintaining its worth. Financial experts express a guarded optimism, suggesting that Shiba Inu (SHIB) might pick up speed again and possibly reach unprecedented record highs.

Can Shiba Inu Price Hit ATH Before Year End?

There’s still a chance that Shiba Inu could hit its record high by the end of this year, but it would need a substantial 352% increase. Evidence from the meme coin market suggests this significant price jump might occur. As of now, Shiba Inu is trading at $0.00001667, marking a 5% drop in the last 24 hours.

For example, Moodeng’s price suddenly jumped by a whopping 325% over just 72 hours, demonstrating the market’s speed and sensitivity to renewed investor interest. This scenario underscores the potential for significant returns in digital assets as momentum among investors grows.

Will Shiba Inu Price Hit ATH Before Year End?

The appeal of Shiba Inus is bolstered by a resurgence in interest towards meme-based cryptocurrencies, as demonstrated by the growing popularity of tokens such as PEPE, POPCAT, MEW WIF, BONK, FLOKI, and BRETT.

Regardless of the recent market declines, Shiba Inu remains captivating, as indicated by ongoing developments like Shibburn and Shibarium, as well as large-scale transactions by whales. This could point towards a possible increase in Shiba Inu’s price within the upcoming months.

Shib Burn Creates Negative Supply Shock

The burning process in Shiba Inu has led to a significant decrease in its circulating supply, making it even more scarce within the cryptocurrency industry. In just the last day, more than 9 million SHIB coins have been destroyed, representing a 114.36% rise in the burn rate compared to previous periods.

Over time, this persistent decrease has led the amount of SHIB tokens that have been burned to an astounding 999.98 trillion, with about 410.73 trillion in circulation currently. As the overall supply shrinks, it may foster a more compact market dynamic between supply and demand. In the event of increased demand, this could potentially boost price increases.

Will Shiba Inu Price Hit ATH Before Year End?

Shiba Inu Price Prediction: Analyst Says it’s “Time to Buy SHIB” Again

A cryptocurrency expert recently emphasized on a social media post that Shiba Inu might presently offer a good buying chance. According to the analyst’s chart analysis, SHIB’s price has seen a drop, coinciding with technical support levels. Although there may be more price declines ahead, the analyst is optimistic that this could be an excellent moment for investment.

The post suggests a cautious yet optimistic outlook, with potential for gains if prices rebound from current levels. This analysis reflects a growing sentiment among crypto enthusiasts to leverage current price positions, particularly in volatile markets like Shiba Inu.

Time to buy some $SHIB. Can fall further, but right now is a great time

— positive virus (@godcandle7810) October 25, 2024

The distinctive factors influencing the supply of Shiba Inus, along with growing market enthusiasm, offer potential for substantial increases. Although reaching an All-Time High (ATH) before the end of the year seems difficult, positive trends and robust demand may lead to a powerful surge in price.

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2024-10-26 18:50