Shiba Inu is currently on a huge surge over the last week. The asset has climbed 44% in the last seven days, and 9% in the last 24 hours alone. SHIB has heavy bullish momentum on the charts and in the community. The dog-themed token is predicted to continue the surge through the first week of October, but how high can FOMO drive the price?
On-chain data shows a spike in Shiba Inu’s social dominance, signaling FOMO (fear of missing out) in the community. The rise in FOMO could create buying pressure and increased activity around the asset, both pumping price. Several bullish indicators suggest SHIB could see a 90% rise to $0.000035 within the next few weeks. For example, data from Santiment shows that SHIB’s one-day circulation hit a 10-week high of 5.77 trillion on Thursday. The spike indicates growing market interest in the asset.
Additionally, according to CoinMarketCap, SHIB has noted a 29.61% surge in its trading volume in the last 24 hours. A recent 200% surge in TV is also a contributor to the asset’s price hike. Bitcoin’s positive price trajectory has also played a part in an overall bullish market for altcoins and meme coins. SHIB in particular has caught most of the attention of investors and traders compared to other meme coins.
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Could SHI Stablecoin Drive Shiba Inu to 90% Surge?
Furthermore, the announcement of a SHIB stablecoin, SHI, also brought intrigue from investors old and new alike. The SHIB team has not revealed a launch date for the upcoming stablecoin. However, many anticipate SHI to bring further utility to the Shibarium network. More utility for Shibarium may lead to more adoption for SHIB, potentially pushing the asset’s price even further towards a 90% rally.
Based on daily charts, SHIB is breaking through resistance levels quickly, meaning the consolidation level of the last few months is likely over. More and more users on Shibarium and crypto exchanges are jumping in on SHIB, with network activity on the rise in anticipation of SHI. FOMO driving SHIB 90% would see the asset reach $0.000035. This is still far from the ultimate $0.01 goal. Fortunately, a surge like this soon would be a monstrous step forward and accelerate the timetable.
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The path towards one cent has been a staple for Shiba Inu investors for years. The climb won’t be easy, with most price predictions not forecasting that achievement for another 10-15 years. However, more innovations from the SHIB team and further crypto booms could accelerate that timeline. Hitting $0.01 from current prices will entail a rally of about 52,173.92%. This definitely won’t be achieved by 2025, but if it follows Bitcoin’s history of price, perhaps in the 2030s SHIB will finally reach the feat.