Shiba Inu price, a popular meme-based cryptocurrency, has recently seen a sharp increase of over 100% this year, despite an ongoing bear market. However, following a solid two-month surge, SHIB is now experiencing significant declines as the broader cryptocurrency market undergoes a correction. Short-term investors are starting to sell off, adding to the downward pressure. With Bitcoin’s value remaining under $95,000, speculation grows on whether Shiba Inu can reach $0.0001 in the next 30 days.
Can Shiba Inu Price Hit $0.0001 By January?
The Shiba Inu token price exhibited promising trends as the overall cryptocurrency market surged, with Bitcoin reaching a record high of $108,000 in early December. This milestone followed several rallies. Such robust performance in the leading cryptocurrency often signals potential upward movements in altcoin values, including SHIB, despite the recent market corrections.
If the Bitcoin price resurges, it could continue to show strength. There’s heightened anticipation that Shiba Inu, alongside other significant altcoins, could experience significant gains. The momentum in meme coins like DOGE, PEPE, and WIF further supports this optimistic outlook for SHIB.
On Saturday, December 28, the SHIB price is at $0.00002177, with a 2% decrease. The day saw SHIB prices fluctuating, dipping to a low of $0.00002136 and climbing to a high of $0.0000223.
Several factors could propel Shiba Inu’s price further. Notable activities include substantial transactions by whales, ongoing token burns, and developments within the SHIB ecosystem. These elements might catalyze a rally, potentially pushing the price to $0.0001.
Investors and enthusiasts closely monitor these dynamics, eager to see if the bullish trends in Bitcoin will indeed spill over to Shiba Inu and catalyze a new wave of rallies for the meme coin sector.
If the bullish momentum makes a comeback, the Shiba Inu price prediction could break the $0.00009 resistance level soon. A push above this level might trigger a rally toward $0.00009. A further move could see the price target at $0.0001, this could require a 340%. However, if bears mount pressure the SHIB price could hit down to support levels.
Source: TradingView
Shiba Inu Unveils New Gaming Metaverse
The SHIB community is abuzz with the introduction of its immersive Metaverse, an exciting racing game, and the adoption of Chainlink’s Cross-Chain Interoperability Protocol. The ecosystem’s momentum is further bolstered by Shibarium’s debut, the ShibaSwap 2.0 upgrade, and the anticipated launch of the TREAT token, promising a vibrant future for the platform.
According to Santiment data a correlation between SHIB’s price and the percentage of stablecoin supply held by whales with assets exceeding $5 million. Notably, as whale holdings increased significantly in late September, SHIB’s price mirrored this rise shortly after.
However, despite a decline in whale holdings from a peak in mid-October, SHIB’s price experienced volatility, suggesting other market forces at play.
Source- Santiment
While the potential for Shiba Inu to hit $0.0001 in the next 30 days is intriguing, it hinges on multiple market factors and Bitcoin’s performance. Continued whale activity and new developments in the SHIB ecosystem could drive momentum, but investors should remain cautious of volatility.
The post Will Shiba Inu Price Hit $0.0001 in Next 30 days? appeared first on CoinGape.
