Here’s Why Shiba Inu Price Could Double Soon
The post Here’s Why Shiba Inu Price Could Double Soon appeared on BitcoinEthereumNews.com.
As the bullish momentum grips the cryptocurrency market, the Shiba Inu price is showing strong signs of upward movement. The popular meme coin recently surged by 20%, reaching new price highs and fueling investor optimism. With the crypto market experiencing a December rally, SHIB appears poised for further gains. This breakout could begin a significant price rally, with the potential for the token to double in value soon. Could Shiba Inu Price Double Soon? The Shiba Inu price is gaining attention as it approaches a crucial resistance level that could determine its next major move. Currently facing a stiff resistance level near $0.00003250, SHIB has shown steady consolidation, building momentum for a potential breakout. If it successfully surpasses this resistance, analysts predict the price could rally by 83%, doubling its current value. This potential move comes as SHIB mirrors historical patterns of sharp upward trends following prolonged accumulation periods. Shiba Inu price is attracting attention as trading volumes rise and its community continues to lend strong support. The broader cryptocurrency market rally, marked by Bitcoin (BTC) surpassing $95,000 and Ethereum (ETH) climbing past $3,600, is expected to amplify SHIB’s upward momentum. TradingView SHIB’s price action may see double-digit gains as market conditions remain favorable. The significant burn activity within the SHIB ecosystem is also contributing to its optimistic outlook. According to Shibburn data, over the past 24 hours, SHIB recorded a staggering burn rate increase of 3,162.%, with 2,022,950,833 tokens burned. This reduction in circulating supply could play a vital role in boosting the token’s value. The surge in SHIB coincides with gains in other popular meme coins, such as Dogecoin price, Pepe (PEPE), and WIF. Their upward trajectories indicate growing investor confidence in meme-based digital assets. Shiba Inu Price Eyes For A Break Out The recent SHIB price hovered…
Filed under: News - @ December 3, 2024 10:22 am