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Highlights
- Shiba Inu price must breach $0.000033 resistance to achieve a bullish breakout.
- Increased burn rates signal rising investor interest and market momentum.
- Meme coin enthusiasm boosts SHIB's rally towards a potential ATH.
Shiba Inu price has surged 60% in the past month, drawing significant market attention. Despite minor corrections, the SHIB momentum indicates strong potential for continued growth in 2024. Analysts project optimism, with market sentiment favoring further gains. Investors closely monitor opportunities as the meme coin edges closer to its all-time high.
Can Shiba Inu Price Hit ATH By 2024?
A recent tweet highlights a crucial price milestone for Shiba Inu price. According to the analyst, the top meme coin may surpass the $0.000033 resistance level to set the stage for a potential rally.
The analyst emphasized that breaking this resistance could accelerate Shiba Inu’s journey to a new all-time high (ATH). The accompanying chart showcased an ascending trendline, suggesting bullish momentum as the price approaches the resistance zone.
Shiba Inu price would need a 64% increase to revisit its all-time high of $0.00008854, last achieved in 2021. The cryptocurrency recently gained momentum during September’s market rally, doubling its value alongside broader market gains.
The token remains a highlight in the cryptocurrency market as meme coin season captures investor attention. Renewed enthusiasm for meme tokens, including Pepe and WIF, has fueled speculation about SHIB’s ability to achieve a new all-time high.
Increased burn activity is also contributing to Shiba Inu’s market buzz. In the past 24 hours, over 303 million SHIB tokens were burned, marking a 1,652% increase. Over the past week, burn activity totaled more than 3.1 billion tokens, reflecting a 95% rise.
HOURLY SHIB UPDATE$SHIB Price: $0.00003105 (1hr 0.35% ▲ | 24hr -0.21% ▼ )
Market Cap: $18,290,800,947 (-0.38% ▼)
Total Supply: 589,257,405,394,024TOKENS BURNT
Past hour: 250,000,000 (1 transaction)
Past 24Hrs: 303,427,800 (1652.32% ▲)
Past 7 Days: 3,148,487,476 (95.69%…— Shibburn (@shibburn) December 6, 2024
The ongoing crypto bull run, marked by BTC crossing above $95,000 and Ethereum hovering above $3,800, may influence the SHIB price to hit ATH.
SHIB Price Eyes Bullish Break Out
Over the past week, Shiba Inu surged more than 20%, briefly reigniting investor optimism. However, the price has since pulled back, leaving analysts speculating about a potential resurgence. At the time of writing, the SHIB price trades at $0.00003111, reflecting a 1% uptick, indicating continued bullish sentiment.
The Shiba Inu price prediction is hovering around the $0.00003 level, a key threshold for its next move. If this level is breached, the price could climb to $0.00005. A further rally might target $0.00008845, marking a potential 64% gain from current levels.
On the downside, if the price fails to hold above $0.00003, it could drop to $0.000025. This would represent a significant loss and test the coin’s support levels.
The Relative Strength Index (RSI) is currently at 65, hinting at bullish momentum but not yet overbought. The Chaikin Money Flow (CMF) shows a slight positive inflow, signaling moderate buying pressure.
Shiba Inu’s path to a new ATH depends on breaking key resistance levels and sustaining bullish momentum. With strong market sentiment and increased burn rates, 2024 could be pivotal for SHIB.
Frequently Asked Questions (FAQs)
1. What is Shiba Inu’s all-time high (ATH)?
2. How much does SHIB need to increase to hit ATH?
3. What resistance level does SHIB need to break for a rally?
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