Shiba Inu Set For Takeoff? Analyst Predicts 10-Fold Surge To Yearly Peak

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,894,514,463,397	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,894,514,463,397

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-3,640.80	-3.67%	95,660.72	95,651.65	95,651.66

Price Change

Price Change %

Current Price

Bid Price

Offer

-3,640.80

-3.67%

95,660.72

95,651.65

95,651.66

High Price	Low Price	Open Price	Prev. Close	52 Week Range
99,887.00	95,083.93	99,600.00	99,301.52	38,501.00 - 108,388.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

99,887.00

95,083.93

99,600.00

99,301.52

38,501.00 - 108,388.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	17:35:46	0.00000932	95,663.81	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

17:35:46

0.00000932

95,663.81

USD

Price x Volume	Volume	Base Symbol	Related Pairs
807,251,556.24	8,351.70	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

807,251,556.24

8,351.70

Shiba Inu Set For Takeoff? Analyst Predicts 10-Fold Surge To Yearly Peak

06/11/2024 11:00am

NEWSBTC

Shiba Inu (SHIB), the popular memecoin, is back in the news after a crypto expert issued a bold projection predicting a tenfold growth in its market capitalization. Zach Humphries outlined certain hopeful variables that might propel SHIB to a market capitalization of $100 billion, bringing its price to $0.000171—a whopping 890% increase over present levels. Humphries, who has built a reputation for his memecoin market observations, feels SHIB’s surge is a real possibility, despite its present low price. Related Reading: Bitcoin Mining Costs Spike To Nearly $50K As Miners Look To AI For Survival In his most recent research, Humphries focuses on the factors that he believes are SHIB’s most fundamental assets. Among these are its brand strength, loyal community, and the potential return of retail investors who may be willing to take another risk in the memecoin space. If $SHIB does a 10x from current price levels, we will see the asset hit over a $100B market cap. Here’s why it can happen 🧵 BOOKMARK this. pic.twitter.com/SSfUNO6nIr — Zach Humphries (@Z_Humphries) November 5, 2024 Brand Power & Community Support Humphries believes that SHIB’s excellent brand recognition contributes significantly to its attractiveness. Shiba Inu has made a name for itself in the world of memecoins, thanks in large part to its passionate community. Even after the 2021 rally waned, SHIB supporters remained engaged, helping to keep the organization relevant in a very competitive sector. Humphries claims that this brand strength, paired with SHIB’s established status in the meme token market, provides it an advantage that fresher tokens lack. Humphries also notes that for many first-time investors, a well-known token like Shiba Inu may appear to be a safer bet in the volatile world of cryptocurrency. With increased demand, particularly if the broader cryptocurrency market becomes positive, SHIB’s price and reputation might skyrocket. According to Humphries, this flood of new investment could be what propels SHIB toward its $100 billion goal. Another Analyst Predicts 200% Rise Analyst “World Of Charts” provided a technical forecast alongside Humphries. They observed a new breakout in SHIB, suggesting a 200% increase that might bring it closer to yearly highs. SHIB’s rebound to $0.00001784 has traders hopeful for future gains. $Shib#Shib Already Running In 50% Profit So Far & Now Verge On Another Descending Broadening Wedge Expecting Another 2x Incase Of Successful Breakout https://t.co/YPxA9ByPk3 pic.twitter.com/ftL0x5HsSW — World Of Charts (@WorldOfCharts1) October 29, 2024 World Of Charts now sees that the breakout of SHIB over the key resistance trendline is another stimulus for further growth. This technical setup with the pattern of the descending expanding wedge makes SHIB jump again if the breakout is sustained. Related Reading: Six Months, $1 Billion: TON Network’s Explosive USDT Adoption Milestone Can Shiba Inu Hit The Target? Humphries and World Of Charts paint a bright picture but not before it sets out difficulties ahead. A market capitalization of $100 billion is too ambitious, particularly for a memecoin, and would require sustained, continuous growth to make that possible. Featured image from DALL-E, chart from TradingView

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

BTCUSD Bitcoin