SHIB Price Prediction: Is Shiba Inu Ready for the Next Big Rally?(27/NOV/2024)

Bittime - Shiba Inu (SHIB) has recently seen a significant spike thanks to some interesting developments that have reinvigorated the dog meme community. 

One of the main factors driving optimism is huge increase in SHIB token burn rate, which could pave the way for new higher prices.

SHIB Burning Increases Drastically – Is This a Sign of Rising Prices?

Recently, the SHIB burn rate soared to 6,000% in a single day, with nearly 300,000 tokens burned. 

In basic economics, when supply decreases while demand remains stable or increases, we can expect interesting price movements. 

Read too SHIB Burn Rate Soars 4100%! Will the $0.0005 Target Be Realized? (26 Nov 2024)

Big Crypto Influencer in UAE Call SHIB

The crypto community is now paying more and more attention to this development. Carl “The Moon”, a UAE-based crypto influencer, has announced that he will be holding SHIB for the long term with an ambitious price target.

SHIB is also showing strong performance, with a gain of around 50% in the past month, trading around $0.00002668. 

Technical indicators are showing positive signals, with an interesting pattern starting to form.

Increased Activity from Large SHIB Holders

More activity from large holders starting to accumulate SHIB could also be an indication that something is brewing. 

This shows that investors are starting to look deeper at usage and community engagement, not just the hype factor.

With all these factors, Shiba Inu is well on track to lead the next rally and surpass the impressive performance shown in 2021.

SHIB Price Movement Analysis

Shiba Inu price increased rapidly at the start of this month, peaking at $0.0000304 on November 12. 

Although the price has fallen slightly since then, this increase managed to return the price position to within the long-term horizontal range, which provides a positive signal for the future trend. 

If SHIB manages to confirm the low as support, the possibility of an upward move towards the high of the range and beyond will open.

Price Prediction SHIB Long Term

The weekly chart shows that SHIB price is trading in a horizontal range between $0.0000215 and $0.0000350. 

This range has existed since 2022, but SHIB price fell below it in July. 

With the formation of a bullish candlestick pattern and a return to the low of the range, SHIB is now in the process of validating the support. 

Although the price is currently more than 70% below its all-time high, the resistance area at $0.0000350 is key before reaching a new peak.

FAQ about Prediksi Harga Shiba Inu (SHIB)

1. Will Shiba Inu coin reach $1?

Despite the hopes of some investors, reaching $1 for Shiba Inu (SHIB) is considered highly unrealistic. 

With the total supply currently standing at around 583 trillion tokens, to reach that price, over 99% of the total supply would have to be removed through burning. 

Most analysts think a more realistic target would be to reach $0.01, especially if there are significant efforts to reduce supply.
Source: Bittime

2. How much will Shiba Inu be worth in 10 years?

Shiba Inu price predictions for the next 10 years vary, but some analysts estimate that SHIB could reach a value of between $0.000138 to $0.000166 by 2030. 

This shows moderate growth potential, depending on ecosystem development and wider adoption. 

However, this price is still far from the $1 target.
Source: Bittime

3. What is the highest price of Shiba Inu?

The highest price of Shiba Inu (SHIB) was recorded in October 2021, when it reached around $0.0000885. Since then, SHIB's price has seen a significant decline, but it remains one of the most recognized meme coins in the cryptocurrency market.
Source: Bittime

Conclusion

With all these developments, Shiba Inu seems poised to continue its positive momentum. 

If this trend continues, SHIB could reach a higher price target and attract the attention of more investors.

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Reference

Alex Morrison, Shiba Inu Price Prediction: Why SHIB Could Lead the Next Meme Coin Rally, Accessed November 27, 2024

Valdrin Tahiri, Shiba Inu (SHIB) Reclaims Long-Term Range — 40% Price Increase Could Follow, Accessed November 27, 2024

Author: IN