Shiba Inu Price Poised for Surge, Analyst Predicts

Shiba Inu (SHIB), the second-biggest meme coin by market cap, is generating excitement among its holders with a bullish prediction from a crypto advisor.

The forecast, shared on the social media platform X (formerly Twitter), claims SHIB mirrors its price movements from 2020. Using the handle @Coachkcrypto, the analyst pointed out that after its launch in July 2020, SHIB saw a price jump followed by consolidation before a major rally between September and April. They believe the current market conditions resemble that pre-rally phase, hinting at a potential price surge soon.

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Community Anticipates “Full Bull Run”

@Coachkcrypto’s tweet, urging followers to prepare for a “full bull run” soon, has ignited discussions within the Shiba Inu community. The post highlights the token’s historical price pattern, suggesting a period of consolidation might precede another significant price increase.

Market Movements Remain Unpredictable

While the prediction has resonated with many SHIB holders, it’s important to acknowledge the inherent uncertainty in market movements. As of June 11th, 2024, SHIB was trading at $0.00002159, reflecting a recent price dip. Despite the short-term decline, the token’s trading volume has grown considerably, potentially indicating increased investor activity.

Shiba Inu Market Data

  • Current Price: $0.00002159 (as of June 11th, 2024, 8:18 p.m. ET)
  • 24-Hour Change: -5.62%
  • 7-Day Change: -11.81%
  • 24-Hour Trading Volume: $830,528,101 (54.73% increase)
  • Market Capitalization: $12,745,518,936
  • Circulating Supply: 589,271,539,344,762 SHIB (according to CoinMarketCap data)

The future of Shiba Inu’s price remains to be seen. However, the recent prediction and the token’s trading activity suggest a potential for growth in the coming months.

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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.