Shiba Inu set for a record high despite price dip, experts say

The crypto market is finally breathing new life after a long slump. As one of the most popular cryptos, Shiba Inu is also leveraging the market shift.

The meme coin is steering through a consolidation period after an uptrend in March. Despite the recent market dip, the SHIB has secured a whopping 198.15% growth in the past month.

The token also witnessed a massive increase in trading volume, reaching 31 billion dollars in one week alone. Currently, it is trading at 0.00002896 dollars, and experts see an all-time high for Shiba Inu on the horizon.

According to the latest SHIB coin price prediction, the coin can maintain the 0.0000250-dollar mark in 2024. Its latest volume and price increase highlight growing speculative trading and growing interest.

Experts’ predictions about SHIB hitting an all-time high are not unfounded based on the overall market sentiment and Shiba Inu’s performance. The meme coin was expected to have a price surge in October and has gained 531% value ever since.

If the coin can break through the target of 0.000081 dollars, it is anticipated to move another 147%. Doing so can open the path for more growth, making 0.0001553 dollars a viable possibility. 

Michael van de Poppe, the founder and CEO of MN Trading Consultancy, also made a compelling argument regarding the altcoins’ market rally. Michael believes that the crypto market has a 40% to 60% market cap to gain. The CEO also suggested that SHIB is poised for a considerable rebound.

Even then, it should be noted that cryptocurrencies are highly volatile, and predicting their movement can be tricky. Thus, investors must conduct thorough research before investing in any crypto asset. 

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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