Shiba Inu Price Prediction as SHIB Reaches $20 Billion Market Cap – $10 SHIB Possible?
SHIB has gained by as much as 12% in the past day, with the Shiba Inu price reaching a 24-hour high of $0.0000351 today.
The meme token’s movements have pushed its market cap back to $20 billion, as the wider crypto market enjoys a 2% gain amid ongoing ETF-related growth and bullishnesses.
SHIB has now gained by 26% in a week and by 267% in the last 30 days, with the meme token also up by 240% in a year.
And with the market likely to continue rising at least until the next Bitcoin halving (happening next month), SHIB could easily reach new peaks in the near future.
SHIB’s chart continues to signal plenty of momentum, momentum which isn’t likely to decline in the very near future.
For example, despite surging beyond 90 a week ago, the coin’s relative strength index (purple) remains above 75, a clear sign that buying pressure remains solid.
SHIB’s 30-day average (yellow) is also very bullish right now, given that it continues to rise rapidly beyond its 200-day (blue), another indicator that it remains within an expansionary phase.
And because the market had neglected and oversold SHIB for so long, it can stand to continue rising for the next few weeks or months, without fearing of becoming too overbought.
Its 24-hour trading volume also remains strong at $2.5 billion, up from $125 million a month ago.
It’s therefore clear that retail and larger investors alike still have plenty of demand for SHIB, which has witnessed several big transfers in recent weeks.
This trader spent only 1.51 $ETH($2,521) to buy 49.8B $SHIB($1.93M currently) in 2021!
After 2.6 years of staking, he withdrew all 40.5B $SHIB($1.58M) and deposited it into #Coinbase 30 mins ago.
If he sells, he will make ~$1.58M, a gain of 628x!https://t.co/oE4sETZwa4
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