Shiba Inu Price Prediction: SHIB Shows Unusually High Strength Against Dogecoin
Release: 2024/05/30 08:05 Reading: 851
Shiba Inu's Potential to Surpass Dogecoin
Crypto analyst Cold Blooded Shiller predicts a promising future for Shiba Inu (SHIB), suggesting it may soon challenge Dogecoin's dominance in the meme coin market.
Shiba Inu's Bullish Momentum
Shiller notes an "unusual" strength in Shiba Inu's recent performance. Technical analysis indicates its favorable position on higher time frames.
Outperforming Dogecoin
On lower time frames, Shiba Inu has outperformed Dogecoin, which Shiller considers unusual. The meme coin has also exhibited a rapid market recovery in the past 24 hours.
Factors Contributing to Shiba Inu's Rise
- Ethereum Spot ETFs hype benefiting Ethereum-based tokens
- Coinbase adding support for Shiba Inu perpetual trading
- Prevalence of meme coin narratives in the current market trend
SHIB Team Acknowledges Support
Shiba Inu's Marketing Lead, Lucie, attributes the coin's success to community support and ecosystem developments.
Ecosystem Growth
- Launch of the Shibarium layer-2 network
- $12 million funding for the proposed layer-3 network
Current Price
At the time of writing, Shiba Inu is trading around $0.0000274, a 12% increase in the past 24 hours.
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