Shiba Inu Skyrockets 15% Daily Amid Predictions About New SHIB All-Time High

The second-largest meme coin was relatively sluggish in the past few weeks but managed to break out today and tap a new multi-month peak of over $0.000033.

As such, it briefly re-entered the top 10 altcoins by market cap, but the subsequent retracement pushed it back to 11th spot after Avalanche.

However, it slipped in the following weeks to $0.000025, where it stood from November 12 to earlier today. In a somewhat surprising move during the weekend, the second-biggest meme coin shot up by more than 22% and soared past $0.000033 for the first time since March this year.

Although it has retraced slightly, it still trades above $0.00003 and its gains on a 24-hour scale sit at 15%. This price rally came amid a massive rise in the SHIB burn rate on a weekly scale, according to Shibburn.

HOURLY SHIB UPDATE$SHIB Price: $0.00003185 (1hr -0.64% ▼ | 24hr 17.84% ▲ )
Market Cap: $18,780,263,000 (17.89% ▲)
Total Supply: 589,259,826,175,294

TOKENS BURNT
Past 24Hrs: 15,108,278 (-97.88% ▼)
Past 7 Days: 2,161,898,903 (985.19% ▲)

— Shibburn (@shibburn) December 1, 2024

SHIB_KNIGHT was more modest but still predicted a new all-time high for SHIB after today’s surge. It’s worth noting, though, that the meme coin is still 64% away from its peak reached over three years ago. Its price would almost need to triple from its current levels to exceed the $0.000086 reached on October 28, 2021 (CoinGecko data).

New ATH Journey started for $SHIB https://t.co/ieWxBACMlU pic.twitter.com/X0jLPKevQk

— $SHIB KNIGHT (@army_shiba) December 1, 2024