Is Shiba Inu on the Verge of a Parabolic Rally?

Shiba Inu (SHIB) has surged 13.5%, surpassing $0.000015, with a 70% increase in daily trading volume to $370 million. Analysts predict a potential 12x price rally for SHIB, fueled by a rising burn rate and growing market optimism.

Key Highlights

• Price and Volume Surge: SHIB's price rose 13.5%, with daily trading volume increasing by 70% to $370 million.
• Analysts’ Optimism: Experts forecast up to 200% price growth, with some predicting 12x returns.
• Marketing Lead’s Optimism: Lucie, Shiba Inu’s marketing lead, suggests SHIB could reach $0.01.

Why is Shiba Inu’s Price Rising?

The price surge comes alongside a higher burn rate and increased investor interest. SHIB’s 13.5% price increase is supported by a 70% jump in trading volume, signaling strong demand. Additionally, futures interest in SHIB has increased by 30%, with over $166.74 million in open interest, reflecting growing trader confidence.

Currently Shiba Inu Price trading at 0.00001530 as per Coinpedia Market data.

For a more detailed Shiba Inu price prediction 2030, check out our full analysis!

Can SHIB See a 12x Rally?

Crypto analyst CryptoELITES predicts a 12x price surge, based on a cup-and-handle chart pattern. After its 2021 high of $0.0008854, SHIB has been following this pattern, with the "handle" nearing completion. Lucie has echoed this potential, emphasizing that SHIB could reach $0.01 over time, though patience is required.

Can SHIB Achieve a 12x Surge?

Popular crypto analyst CryptoELITES has predicted a 12x surge in SHIB's price. The prediction is based on the technical formation of a cup-and-handle pattern on the SHIB price chart. SHIB’s price reached an all-time high of $0.0008854 in October 2021, and since then, it has been following a cup-and-handle pattern. According to this technical analysis, the "cup" was completed with SHIB’s March 2024 peak at $0.00004567, and the "handle" is now nearing completion.

Lucie, Shiba Inu’s marketing lead, has supported this prediction, even suggesting that SHIB has the potential to reach the $0.01 price point in the future. However, she emphasized that this might take some time and encouraged the Shiba Inu community to be patient as the ecosystem continues to develop.

Recent Developments in the Shiba Inu Ecosystem

The Shiba Inu ecosystem continues to show consistent growth. Despite the volatility in the broader cryptocurrency market, Shiba Inu has been expanding rapidly, with over 1.5 million holders since its launch in 2020. According to Shibariumscan data, the Shibarium network has surpassed 10 million blocks, demonstrating increasing adoption and on-chain activity.

Lucie also recently raised the idea of launching a Shiba Inu Exchange-Traded Fund (ETF) in the future. This could be a significant development for SHIB, bringing more mainstream exposure to the token.

Shiba Inu’s price surge, fueled by increased trading volume and a rising burn rate, has captured the attention of investors. Analysts are forecasting a potential rally, with some predicting returns as high as 12x. With growing optimism from Shiba Inu’s marketing lead and ongoing developments within its ecosystem, SHIB holders have reasons to remain hopeful. However, it’s important to remember that cryptocurrency markets are volatile, and patience may be key to seeing long-term growth.