Shiba

Cryptocurrency

USDC

Shiba Inu

<ul>
 <li><strong>Shiba Inu (SHIB) has surged 271% in the past 7 days.</strong></li>
 <li><strong>High-profile transactions and whale activity shape SHIB’s trajectory.</strong></li>
</ul>
<p>Shiba Inu (SHIB) has captured the attention of the cryptocurrency world with an astonishing 58% <a href="https://thenewscrypto.com/shiba-inu-shib-soars-to-two-year-high-amidst-bull-run/" rel="noopener noreferrer nofollow">surge</a> in the last 24 hours, propelling its market capitalization to a formidable $21 billion, entering the top 10 cryptocurrencies by market cap. This resurgence is not only a testament to SHIB’s enduring appeal but also underscores the volatile yet opportunistic nature of meme cryptocurrencies.</p>
<p>March 2024 has seen SHIB break through resistance levels and engage in significant trading activity, with its trading volume skyrocketing by 302% to $12 billion. Over the past week, it has experienced a meteoric rise of 269%, positioning itself close to its all-time high (ATH) – now just 56.67% shy of the $0.00008845 peak.</p>
<p>This resurgence has sparked a flurry of speculation and interest among investors, analysts, and enthusiasts alike. Lucie, a key figure in the Shiba Inu community and the project’s marketing strategist, has fueled this excitement with a bold prediction on X, suggesting SHIB could reach $0.00012. This forecast, based on historical surges, implies an astonishing potential upside of over 800% in a short timeframe.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/BIqF2LDajVW9bZumYgsjox4NNB796RAgK5dgV8rYKA-OUDHwO6dzAuAjfej8F4hOHsbkfjJwpyN7EIj7Qi5MMl5Mblndc7tr1XIu11reiqwBhZe08Js3R0fC7UdkvhM0mIAiJxR6rBE-s_Pv-poDJ6Y" alt="">
  <figcaption class="wp-element-caption">
   SHIB Price Chart, Source: TradingView
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 </figure>
</div>
<p>However, opinions on SHIB’s future price movements are varied. Drawing on early 2023’s price behavior, analysts project an average rate of $0.0000213 for SHIB in March 2024, with potential swings between $0.0000193 and $0.0000234.</p>
<h3 class="wp-block-heading" id="h-major-whale-moments">Major Whale Moments</h3>
<p>Market sentiment has been further influenced by notable transactions involving high-profile figures in the crypto space. Rune, the co-founder of MakerDAO, recently invested 500K USDC to acquire 25.04B SHIB, signaling confidence in its potential. In contrast, <a href="https://twitter.com/justinsuntron" rel="noopener noreferrer nofollow">Justin Sun</a>, founder of Tron, has taken a different path by selling a significant portion of his SHIB holdings.</p>
<p>Amidst this whirlwind of activity, the surge in whale transactions on March 2nd, as reported by Santiment, marks a pivotal moment. This spike in activity, the highest since November 2021, suggests a strategic move by large holders, with many capitalizing on the rally to secure profits.</p>
<p>Shiba Inu’s current trajectory becomes a compelling chapter in the ongoing saga of meme cryptocurrencies. Its recent performance not only reflects the speculative fervor that can drive massive short-term gains but also highlights the broader trends and shifts within the cryptocurrency market.</p>

SHIB Breaks Into Top 10 Cryptocurrency with $21B Market Cap

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