Will Shiba Inu Price Hit ATH By 2025?

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As a seasoned analyst with over two decades of experience navigating various bull and bear markets, I’ve witnessed the rise and fall of countless cryptocurrencies. However, I must admit that the meteoric rise of Shiba Inu (SHIB) has been nothing short of astonishing. The recent surge in SHIB price by 60% within a month has certainly caught my attention, and I can’t help but be intrigued by its potential for continued growth in 2024.

The price of Shiba Inu has jumped by 60% over the past month, capturing a lot of interest in the market. Even though there have been minor setbacks, the upward trend suggests that Shiba Inu could see more growth in the coming years, particularly in 2024. Analysts are feeling positive about its future, as the general sentiment among investors is leaning towards additional increases. Investors are keeping a close eye on potential opportunities, as Shiba Inu approaches its record high.

Can Shiba Inu Price Hit ATH By 2024?

A recent tweet highlights a crucial price milestone for Shiba Inu price. According to the analyst, the top meme coin may surpass the $0.000033 resistance level to set the stage for a potential rally.

The analyst emphasized that breaking this resistance could accelerate Shiba Inu’s journey to a new all-time high (ATH). The accompanying chart showcased an ascending trendline, suggesting bullish momentum as the price approaches the resistance zone.

To reach its previous record high of $0.00008854 (set in 2021), the price of Shiba Inu would have to surge by about 64%. Lately, Shiba Inu has been picking up speed, with its value nearly doubling during September’s market surge, mirroring broader market growth.

The token remains a highlight in the cryptocurrency market as meme coin season captures investor attention. Renewed enthusiasm for meme tokens, including Pepe and WIF, has fueled speculation about SHIB’s ability to achieve a new all-time high.

The heightened burning of Shiba Inu coins is playing a role in the coin’s current market excitement. In just the last day, an estimated 303 million SHIB tokens were destroyed, representing a staggering 1652% jump. Over the course of the past week, the total number of tokens burned has exceeded 3.1 billion, showing a significant 95% surge in burning activity.

1-hour SHIB update:

250 million tokens were burned in the past hour (one transaction).

— Shibburn (@shibburn) December 6, 2024

In simpler terms, if Bitcoin continues its upward trend and surpasses $95,000 while Ethereum remains above $3,800, there’s a possibility that Shiba Inu (SHIB) could reach its all-time high as well.

SHIB Price Eyes Bullish Break Out

Over the last seven days, Shiba Inu experienced an increase of over 20%, temporarily sparking enthusiasm among investors. Yet, since then, its price has dipped, causing analysts to ponder if it might rise again. At this moment, a single Shiba Inu token is being traded for $0.00003111, showing a minor 1% increase, suggesting that the positive trend persists.

The estimated price of Shiba Inu remains near $0.00003, an important point for its future trend. If it surpasses this point, the price may rise to $0.00005. With continued growth, it could potentially aim for $0.00008845, representing a possible 64% increase from the current value.

If the cost doesn’t manage to stay above 0.00003 USD, it might fall to 0.000025 USD instead. This decrease could result in substantial losses and potentially challenge the coin’s underlying support.

Right now, the Relative Strength Index (RSI) stands at 65, suggesting a strong uptrend in the market, but it’s not quite at the point of being overbought yet. Meanwhile, the Chaikin Money Flow (CMF) indicates a slight increase in funds flowing into the market, which translates to a moderate level of buying pressure.

The journey of Shiba Inu toward a fresh all-time high hinges on surmounting crucial resistance points and maintaining a robust uptrend. A favorable market atmosphere and heightened burning rates suggest that the year 2024 might be significant for SHIB.

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2024-12-06 23:28