• Thu. Nov 28th, 2024
Exchange crypto for 0% service fee in the app

Shiba Inu Price Prediction as Meme Coins See Double-Digit Gains – Time to Buy?

Dec 4, 2023
Shiba Inu Price Prediction as Meme Coins See Double-Digit Gains – Time to Buy?
Source: Dall•E 3

The Shiba Inu price has jumped by 10% in the past 24 hours, with the meme token’s rise to $0.00000934 coming as the market as a whole gains by 4% today.

This increase puts SHIB up by 18% in the last 30 days, with the coin also having appreciated by 15% since the beginning of the year.

Such year-to-date growth is relatively disappointing in relation to other major tokens, yet it’s arguable that SHIB’s prior underperformance now puts it in a position to grow vigorously over the next few weeks.

And with most analysts expecting a bull market in 2024, SHIB could enjoy several months of sustained rises soon enough.

Shiba Inu Price Prediction as Meme Coins See Double-Digit Gains – Time to Buy?


SHIB’s chart suggests that the meme token is definitely on the up right now, with its indicators all signalling increased buying pressure.

Its relative strength index (purple) has surged from 50 a week ago to nearly 70, with more rising possible before the coin enters overbought territory.

Shiba Inu price chart.
Source: TradingView

Even more bullishly, the meme token’s 30-day average (yellow) has begun rising more aggressively beyond the 200-day average (blue), having over taken the longer term average just under two weeks ago.

This suggests that SHIB may have entered a period of sustained gains, with more price increases likely to follow in the coming days and weeks.

Indeed, its 24-hour trading volume has now risen to around $600 million, from $100 million only a couple of weeks ago.

This suggests a big leap in interest in the token, with recent data showing that whales have begun accumulating it once again.

As such, the Shiba Inu price is likely to witness further gains in the very near future, with the coin set to increasingly compensate for underperformance in previous months.

And underperform it really has, given that Shiba Inu has rolled out a number of significant updates and features this year.

This includes layer-two network Shibarium, which is currently racking up more and more transactions with every passing week, providing Shiba Inu users with faster and cheaper transactions.

It also includes the Shiba Inu name service, which enables users to convert long alphanumeric wallet address into more digestible and sharable names.

And with SHIB: The Metaverse likely launching next year, SHIB’s fundamentals could really help it make the most of the expected 2024 bull market.

Accordingly, the Shiba Inu price could reach $0.000020 within the first few months of the year.

Alternative High-Potential Meme Tokens


While 2024 looks set to be a year in which SHIB will make amends for past poor performance, it won’t be the only meme coin rallying hard over the next few months.

There are in fact various newer meme tokens in the market that have not only been attracting plenty of attention, but which also boast good fundamentals.

This includes Meme Kombat (MK), an ERC-20 cryptocurrency that has raised in excess of $2.4 million in its popular presale.

What provides Meme Kombat with interesting fundamentals is that it’s not only a meme coin, but actually a platform that enables users to bet on AI-generated meme battles.

Yes, its platform will use AI to auto-generate battles between meme characters, which will be rendered and visualized in real-time for users to watch.

Users can bet against each other on the outcomes of such battles, while they can also bet against the platform itself.

Either way, they place bets using MK, which Meme Kombat will also use to pay out winnings.

Not only that, but MK holders will be able to use the token for staking, earning themselves a steady passive income in the process.

These features have all helped to attract investors to Meme Kombat’s presale, and with the cryptocurrency launching at a time when interest in meme coins remains very strong, it could have a big 2024.

People can join its sale by heading over to the Meme Kombat official website, where 1 MK token now costs $0.0225.

This will rise to $0.0235 in just under four days, while its listing on exchanges could see it rocket.

Visit Meme Kombat Now

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

The post Shiba Inu Price Prediction as Meme Coins See Double-Digit Gains – Time to Buy? appeared first on Cryptonews.


#PricePredictions #Altcoins #SHIB #ShibaInuPrice #ShibaInuPricePrediction #TechnicalAnalysis
[Source: CryptoNews]

Related Post

You missed