Shiba Inu Price Breaks Four-Year Downtrend, is ATH Next?

Shiba Inu price, a popular meme-based coin, has gained significant attention this month. With a 230% increase in value over the past year, SHIB has generated excitement among investors. Despite some market fluctuations, the token’s strong performance signals potential for further growth in 2024. Analysts suggest SHIB could be on track to surpass its all-time high (ATH) after breaking a year-long downtrend, fueling hopes for even bigger gains ahead.

Is ATH Soon After Shiba Inu Price Broke 4-Year Downtrend?

Shiba Inu price is showing signs of a major breakout after breaking a significant four-year downtrend. The cryptocurrency, which has seen a steady decline since its all-time high in October 2021, may be on track to surpass that peak if its current bullish momentum continues.

The last time SHIB reached its highest value of $0.00008845 was over four years ago, on October 28, 2021. Since then, the token has experienced a sharp 65.62% decline, raising concerns among investors. However, recent price movements suggest a reversal may be in progress, as SHIB has finally broken out of its prolonged downtrend.

Analysts now speculate that Shiba Inu could reach a new all-time high if the upward trend persists. With growing investor confidence and increasing market activity, the Shiba Inu price prediction may just be gearing up for another surge that could eclipse its previous ATH.

SHIB Price Surge Sparks Bullish Optimism

Shiba Inu has seen an impressive surge of over 80% in the past month, including a 22% rise in the past week. The SHIB price is currently at $0.0000303, showing signs of continuing this upward trend with a 3% daily increase. This rally echoes memories of SHIB’s explosive performance in 2021, fueling speculation that a similar surge could be on the horizon.

Bitcoin’s recent rally above $96,000 has further stoked the bullish sentiment across the crypto market. If Bitcoin pushes past $100k, many believe this could propel SHIB’s price to ATH. Major altcoins such as ETH, BNB, and TRX also witness price growth, adding to the positive market atmosphere.

Top meme coins, including Dogecoin, PEPE, and Floki, have similarly experienced upward momentum, contributing to the broader trend. Whale activity in SHIB has been particularly notable, with large-scale investors increasing interest.

Adding to the bullish outlook, Shiba Inu’s ecosystem is evolving with significant updates, particularly in Shibarium and Shibburn projects. The burn rate for SHIB has reached new heights, with over 2 billion tokens burned in the past 24 hours. 

HOURLY SHIB UPDATE$SHIB Price: $0.00003004 (1hr -0.37% ▼ | 24hr 2.45% ▲ )
Market Cap: $17,745,369,143 (2.54% ▲)
Total Supply: 589,257,726,144,350

TOKENS BURNT
Past 24Hrs: 2,043,819,527 (144223.06% ▲)
Past 7 Days: 4,253,530,390 (1995.88% ▲)

— Shibburn (@shibburn) December 4, 2024

Shiba Inu price has broken its four-year downtrend, signaling potential for further growth. The growing investor confidence and market sentiment are driving its surge. With continued momentum, SHIB may surpass its previous all-time high.