Currently, Solana-based memecoins are gaining popularity, while Dogecoin and Shiba Inu, which were successful in 2021, remain in the background. Some analysts suggest that SHIB may return to prominence.
Current State of Memecoins
The memecoin market currently sees dominance from Solana-based assets, while DOGE and SHIB, favorites in 2021, stay in the shadows. Some investors believe that DOGE and SHIB may eventually regain interest, while others are losing hope.
SHIB Analysis by Joao Wedson
Joao Wedson, CEO of analytics firm Alphractal, shared a new analysis of SHIB. He noted that on-chain data indicates SHIB is in the accumulation phase, which could lead to price increases. Wedson mentioned that one metric suggests a potential price increase of at least 125%.
Future Prospects for SHIB
Based on accumulation data and metrics like Realized Cap Impulse, there is a possibility that SHIB could soon attract speculative capital and push its price higher. However, the NUPL metric indicates significant risk for investors, leading to hesitation. Alpha Price, the company's proprietary metric, signals that SHIB could rise by at least 125%.
Despite the current instability in the crypto market, SHIB may soon find itself back in the spotlight. If memecoins regain attention from investors, it may signal the peak of this crypto cycle.
