The post How high will SHIB go in 2024? Experts SHIB price predictions appeared on BitcoinEthereumNews.com.

As 2024 looms, it brings forth a crucial inquiry for Shiba Inu (SHIB) enthusiasts: Is it plausible for this meme coin to exceed its current accomplishments and attain success.  Within the optimistic anticipation of its community, there is increasing excitement surrounding the potential emergence of Shiba Inu as a vital factor in the decentralized finance (DeFi) realm. Amidst the prevailing uncertainty, skepticism arises, prompting investors to seek expert guidance for insights and predictions. There is a collective curiosity about whether SHIB will successfully retrace its all-time highs or if it is poised for another devaluation phase. Technicals provide an optimistic overview One key factor for a specific cryptocurrency’s continued success is its versatility and the trust Shibarium receives from investors.  An indicator of this trust is the number of transactions, and just recently, Shibarium managed to surpass the milestone of 200 million transactions, as highlighted by crypto analyst Lucie in X post on December 27. The number of Shibarium transactions. Source: Lucie This development highlights the activity and trust this cryptocurrency receives from traders as it seeks to retrace its price toward its all-time highs. High number of SHIB withdrawals tells a different story The importance of backing and trust can also be measured by the number of withdrawals of specific crypto from exchange wallets, which might mean that investors are cashing out on their positions. Since November, a substantial withdrawal exceeding 8 trillion SHIB has occurred from identifiable crypto exchange wallets, amounting to an approximate value of $88 million, per a post from crypto analyst Ali Martinez on December 24. Change in balance of SHIB on exchanges chart. Source: Ali Martinez Expert is not optimistic Andrew Lokenauth, the founder of TheFinanceNewsletter.com, offered his insight and comment on the main characteristics of this asset, as well as his prediction for…

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Filed under: News - @ December 27, 2023 3:20 pm