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Doggy-themed meme coin, Shiba Inu (SHIB), can be we are preparing for a big meeting to a new all-time high this bull cycle. Given the cryptocurrency’s recent performance, analysts predicting that Shiba Inu can undergo surgery above its all-time high of $0.000086.
Shiba Inu Aims For New All-Time Highs
I The price of Shiba Inu has just gone up from about $0.00001 to $0.00002. This significant price increase has occurred over the past few weeks, indicating that the popular meme coin may be poised for a parabolic rally Fourth quarter (Q4) of 2024.
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Based on meme coin’s current bullish performancecrypto analyst and prominent Shiba Inu supporter identified as ‘SHIB Knight’ expressed optimism about SHIB price view. At X (formerly Twitter) postedanalyst shared a Shiba Inu price chart, suggesting that the popular meme coin was preparing to surpass the $0.00008 mark.
Continuing to strengthen his prediction, the SHIB knight announced that the Shiba Inu is finally ready to ascend to the top, marking the epitome of meme character.
In October 2021, Shiba Inu achieved an all-time high of $0.000086, representing a 75.59% increase from its current price. Significantly, SHIB has been building more momentum as September ends, pointing to a possible strong rally in October. Furthermore, with the cryptocurrency currently trading at $0.00002, it would need a 330% surge to regain its previous peak.
Although SHIB Knight did not predict a specific date and price, it has boldly announced it A Shiba Inu can surpass its all-time highwhich has a chance to break above $0.000086 this bull cycle.
SHIB Maintains Strong Momentum
I Shiba Inu price has been on a high for the past few weeks, making double-digit gains despite previous market declines. When the popular meme coin encountered it share of depreciation at the beginning of this year, the Shiba Inu appears to be returning, suggesting renewed interest and investor demand.
Data from CoinMarketCap shows that SHIB has jumped 48.20% in the past month. In addition, the cryptocurrency has seen another 45.84% increase in the last seven days, which highlights its strong price potential.
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Likewise, with others meme coins like Dogecoin (DOGE) and Pepe (PEPE) have been steadily growing over the past week. Pepe recorded a price increase of more than 38% last week, while Dogecoin is up by 17%.
This suddenly changed from bearish trends The development underscores a major shift in investor sentiment toward the meme market. A crypto analyst identified as ‘AllInCrypto’ on X also acknowledged the recent positive momentum of meme coins, to highlight that Shiba Inu prices seem to be good.
The analyst also noted that the meme’s drawdown was almost over, as evidenced by the impressive price movement of Shiba Inu, which recorded a massive gain of 9.48% today.
The featured image was created with Dall.E, a chart from Tradingview.com