Is the Shiba Inu Meme Coin Starting a New Bull Trend with $100 Million Trading Volume? Experts Predict Price Surge!

Shiba Inu Price Prediction as $100 Million Trading Volume Comes In – Is the Meme Coin Starting a New Bull Trend?

Shiba Inu Price Prediction As It Hits $100 Million Trading Volume – Is Meme Coin Starting A New Bull Trend?Shiba Inu Price Prediction As It Hits $100 Million Trading Volume – Is Meme Coin Starting A New Bull Trend?

The Shiba Inu Award is up 2% in the last 24 hours, rising to $0.00000864 on a day when the cryptocurrency market as a whole is posting similar gains.

SHIB is now down 2% in the past week, but recent market gains have seen the meme token maintain a 5% gain in a fortnight and a 23% gain in the past 30 days.

But because SHIB is up just 6.5% since the start of the year, it has more than made up for lost gains, meaning it could outperform the market during the next bull rally.

Shiba Inu Price Prediction As It Hits $100 Million Trading Volume – Is Meme Coin Starting A New Bull Trend?

The market may have had an odd few days, but SHIB’s indicators still seem to point to upcoming rallies.

This is especially the case with the 30-day average (yellow), which has risen just above the 200-day average (blue) and formed a ‘golden cross’.

Shiba Inu Price Chart.Shiba Inu Price Chart.
Source: TradingView

Such crossings could indicate an impending breakout, although the picture is somewhat clouded by SHIB’s RSI (purple).

This last indicator is stuck just below 60 and doesn’t appear to be rising at the moment, implying that the meme token doesn’t currently have enough momentum or buying pressure to spark a really big rally.

It is also interesting that the coin’s 24-hour trading volume increased slightly today to $100 million.

This isn’t actually much compared to larger tokens, but the relatively low depth potentially means that a large whale buy order could push the price of Shiba Inu much higher.

It’s certainly a big step forward, considering 2023 has been a more or less disappointing year for the sign.

Yet this is despite the fact that Shiba Inu has increasingly commendable fundamentals, with the meme token witnessing several updates this year that provide it with real utility.

The first was the launch of the second-tier Shibarium network in August, which provides the previously Ethereum-dependent token with faster and cheaper transactions.

Shibarium has now processed almost four million transactions since launch registering approximately 1.25 million wallet addresses.

This hints at how big it could become, with Shiba Inu also launching its own naming service a few weeks ago, in another step towards greater usability.

Based on such developments, SHIB should continue to rise in the coming weeks and months.

The price is likely to reach $0.000010 in the coming weeks before opening the new year around $0.000020.

New meme tokens with high potential

As SHIB’s immediate trajectory remains somewhat uncertain, some traders may prefer to invest in newer alts and meme coins.

While the viability of new coins is often unpredictable, one way to identify promising assets is to look for successful presales, which can predict large listings and successful life cycles.

And one of the most successful pre-sale events is now part of it Meme Kombat (MK) does an ERC-20 cryptocurrency that has raised more than $1.9 million in about a month.

The reason why investors are choosing Meme Kombat is that it is more than a meme token, with the platform set to allow users to bet on AI-generated meme battles.

The platform will randomize fights using AI and display them in real-time for users to watch, providing an entertaining and communal focus for betting.

The core of the platform is the MK token itself, which Meme Kombat will use to cash out winnings and which users can also stake for passive income.

And as memes remain one of the most popular elements within the crypto ecosystem, Meme Kombat’s platform is likely to do well once it launches in the coming weeks.

New investors can participate in the sale by visiting Meme Kombat’s official website and connecting their wallets such as MetaMask.

1 MK currently costs $0.205, but this price could look very cheap when exchanges start offering the token.

Visit Meme Kombat now

Disclaimer: Crypto is a high-risk asset class. This article is for information purposes only and does not constitute investment advice. You can lose all your capital.

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This article is originally written on: 2023-11-20 18:27:59. Discover additional details at this location:

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