• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Shiba Inu Price Prediction: Potential Growth and Worrying Signals

user avatar

by Giorgi Kostiuk

10 months ago


  1. Potential SHIB Price Growth
  2. Factors Indicating Growth
  3. Stalled Shibarium Progress

  4. Shiba Inu's price may significantly rise due to identified technical patterns, reduced selling pressure, and increased token burns. However, the progress of the Shibarium network may limit the meme coin's growth prospects.

    Potential SHIB Price Growth

    Despite a decline since March, some analysts believe that Shiba Inu (SHIB) could see a significant price increase in the near future. One example is the X user pepa, who claimed that SHIB's price chart has formed a specific triangular shape that could lead to a massive resurgence if broken to the upside. The crypto enthusiast speculates that SHIB might erase two zeros from its price.

    Factors Indicating Growth

    Currently, SHIB is trading at around $0.00001328 (according to CoinGecko), roughly the same as a week ago. The projected rally to $0.001328 would mean a 10,000% increase. For SHIB to reach this mark, its market capitalization must surge to nearly $800 billion. At present, the only cryptocurrency with a market cap exceeding that amount is Bitcoin (BTC), making the forecast quite unlikely. However, some on-chain metrics suggest that a SHIB rally could indeed be on the horizon. According to CryptoQuant, Shiba Inu exchange outflows have predominantly surpassed inflows over the past seven days, indicating a shift towards self-custody methods. This can be viewed as a bullish factor since it reduces immediate selling pressure. Another noteworthy element is SHIB's burning mechanism. Data shows that the burn rate has increased by 563% in the last week, resulting in over 59 million tokens being sent to a null address. The goal of the burn program is to reduce the large circulating supply of the meme coin, making it scarcer and potentially more valuable over time. Since the adoption of this effort, over 410 trillion tokens have been destroyed, leaving approximately 583 trillion in circulation.

    Stalled Shibarium Progress

    Conversely, one factor indicating that SHIB’s price may continue to trade sideways or experience a pullback is the stalled progress of Shibarium. The layer-2 scaling solution entered the crypto space with a splash last summer, processing millions of transactions on a 24-hour scale. Recently, however, daily transactions on the network have fallen below 5,000. Some industry participants believe the protocol’s advancement could be beneficial for SHIB’s price, meaning its stagnation might have the opposite effect.

    In conclusion, the price of Shiba Inu could increase due to technical factors and reduced selling pressure, but the stalled progress of Shibarium presents a significant obstacle to further growth.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

New Opportunities in the Meme Cryptocurrency Market: Troller Cat Gaining Popularity

chest

Exploring the rise of Troller Cat amid shifts in meme cryptocurrencies and the current status of Shiba Inu and Pepe.

user avatarGiorgi Kostiuk

Bit Digital Makes $67.3 Million Ethereum Purchase, Strengthening Its Holdings

chest

Bit Digital invests $67.3 million in Ethereum, raising total holdings to nearly 120,306 coins.

user avatarGiorgi Kostiuk

Block Inc. Joins S&P 500, Replacing Hess Corp.

chest

Block Inc. will replace Hess Corp. in the S&P 500, potentially impacting Bitcoin's acceptance by institutional investors.

user avatarGiorgi Kostiuk

XRP Sets New Record Following Legislative Changes

chest

XRP hit $3.66, surpassing previous records due to increased investor interest and the expected signing of the GENIUS Act.

user avatarGiorgi Kostiuk

MEI Pharma and Litecoin: New $100 Million Treasury Strategy

chest

MEI Pharma has announced a $100 million treasury strategy with Litecoin, led by Litecoin creator Charlie Lee. Market reaction was volatile.

user avatarGiorgi Kostiuk

Merkel Urges for a Cohesive EU Response to US Tariffs

chest

Merkel calls for EU unity in response to US tariffs that may disrupt trade chains.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.