Shiba

Reserve

2024

Bitcoin

Shiba Inu

<p>The post <a href="https://coinpedia.org/news/prominent-bitcoin-investor-predict-shiba-inu-set-to-skyrocket-1105-whats-driving-this-surge/">Top Bitcoin Investor Predicts 1,105% Price Jump for SHIB Price; Here’s Why</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Shiba Inu has been grabbing headlines lately. A whopping 17 trillion tokens have changed hands in just a week, signaling a flurry of on-chain transactions and injecting some excitement into this popular digital asset. Amongst all this action, analysts are whispering about a possible upswing in Shiba Inu’s fortunes in the weeks ahead.</p> 
<p>Read on to find out what the experts are saying.</p> 
<h2 class="wp-block-heading" id="h-analyzing-historical-patterns">Analyzing Historical Patterns</h2> 
<p>One voice in this conversation is Moataz “Eljaboom” Elsayed, a well-known Bitcoin investor who’s also earned a spot in Forbes’ 40 under 40 list. Eljaboom has a bold prediction: he thinks Shiba Inu’s price could climb to $0.00024 if history repeats itself.</p> 
<p>In a recent tweet, Eljaboom took a deep dive into Shiba Inu’s price movements, especially focusing on its journey since mid-2021.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">History Is Repeating Itself <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw">#SHIB</a> <a href="https://t.co/zeeXVWhpKZ">pic.twitter.com/zeeXVWhpKZ</a></p>— Elja (@Eljaboom) <a href="https://twitter.com/Eljaboom/status/1799411824665776584?ref_src=twsrc%5Etfw">June 8, 2024</a>
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  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<h2 class="wp-block-heading" id="h-from-highs-to-lows-and-back-again">From Highs to Lows and Back Again</h2> 
<p>Let’s rewind to May 2021, a pivotal moment for Shiba Inu. After getting listed on Binance, the token shot up to $0.00005 before settling at $0.00001995. This surge marked an impressive 343.64% increase, pushing SHIB to its peak of $0.00008854 by October 2021.</p> 
<p>But then came the bumps in the road, like the <a href="https://coinpedia.org/news/terra-founder-do-kwon-found-guilty-for-luna-and-ust-collapse/">Terra ecosystem collapse</a> in May 2022, which shook Shiba Inu and the wider crypto market.</p> 
<p>SHIB fell below its established support range, turning it into a resistance zone. For 95 weeks, the token struggled to break through this barrier until a decisive breakout in March this year, which saw a 374% <a href="https://coinpedia.org/news/shiba-inu-crypto-whale-returns-massive-shib-buy-signals-new-bull-run/">surge to a yearly</a> high of $0.00004567.</p> 
<h2 class="wp-block-heading" id="h-is-there-still-any-hope">Is There Still Any Hope? </h2> 
<p>Amidst the recent volatility <a href="https://coinpedia.org/news/shiba-inu-community-nears-10000-signatures-for-shib-etf-petition/">surrounding Shiba Inu</a>, Eljaboom’s analysis suggests a potential surge, mirroring its past performance. He thinks Shiba Inu could rise by 1,105% from its current price of $0.00002329 to $0.00024, effectively eliminating another zero from its price. Such a milestone would propel Shiba Inu’s market cap to an impressive $141.6 billion.</p> 
<h2 class="wp-block-heading" id="h-current-market-scenario">Current Market Scenario</h2> 
<p>Furthermore, <a href="https://cryptoquant.com/asset/shib/chart/exchange-flows/exchange-reserve?exchange=all_exchange&amp;window=DAY&amp;sma=0&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line">CryptoQuant’s data indicates</a> that Shiba Inu Exchange Reserve surged to 154 trillion tokens in May, underlining investor confidence in the token’s potential.</p> 
<p>As of now, Shiba Inu is <a href="https://markets.coinpedia.org/shiba-inu/">trading at $0.00002329</a>, reflecting a slight increase of 0.43% in its price. Despite this price increase, the trading volume has declined by 4.5%, which is hovering around $473 million. Shiba Inu’s market capitalization stands at $13.7 billion amidst these fluctuations.</p> 
<p><strong>With the stage set for potential fireworks in the coming weeks, all eyes are on Shiba Inu.</strong></p>

Top Bitcoin Investor Predicts 1,105% Price Jump for SHIB Price; Here’s Why

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