Altcoin
Analyst Provides Timeline For When Shiba Inu Price Will Reach ATH
Crypto analyst Javon Marks has provided a timeline for when the Shiba Inu price will reach its current all-time high (ATH) of $0.00008. This came as the analyst predicted a price surge of over 350% for the meme coin.
Analyst Reveals When Shiba Inu Price Will Reach ATH
Marks revealed in an X post that the Shiba Inu price could reach its current ATH by November. The analyst mentioned that the Shiba Inu continues to maintain its breakout, and with more bull patterns spotted, the next leg of “immense bullishness” may be unfolding. He added that with larger breakouts still indicating $0.000081 as a target, a price surge of over 351% could occur, sending the top meme coin to this price level, and that it may occur at a “significant speed.”
His accompanying chart showed that this massive rally would occur in November. A SHIB price rally of over 350% in November will undoubtedly be interesting to see, especially considering that the month isn’t historically a good one for the second-largest meme coin by market cap. Cryptorank data shows that SHIB recorded a monthly loss of 29.6% and 24.8% in November 2021 and 2022, respectively. Meanwhile, it recorded a meager price gain of 6% in November 2023.
As such, such a price rally to its current ATH in November would defy history. Meanwhile, it is worth mentioning that expert Oscar Ramos is also confident in Shiba Inu’s potential. The expert said that a 100% price explosion is imminent, which could pave the way for the meme coin to retest its current ATH.
Why November Is Looking Good For The Meme Coin
Next month promises to be a bullish month for the crypto market, which could also be positive for the Shiba Inu price. The November 5 presidential election is set to take place with the aftermath positive for cryptocurrencies since it will bring market certainty. Moreover, pro-crypto candidate Donald Trump is leading in the polls, a development that could send crypto prices skyrocketing if he eventually wins the elections.
Shiba Inu’s outlook is also bullish thanks to the team’s efforts, which could help boost SHIB’s adoption. The team recently announced a strategic upgrade for the Shiboshi NFT collection on the Shibarium network.
This move could help increase daily transactions on the Shibarium network, which would ultimately impact the Shiba Inu price positively. A surge in Shibarium’s daily transactions leads to more SHIB burns, which causes the meme coin to be more valuable in the long term.
At the time of writing, the Shiba Inu price is trading at around $0.00001719, up in the last 24 hours. Trading volume is up over 77%, with $269 million traded during this period.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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