The SHIB token has been up another 69% in the past 24 hours, according to CoinGecko pricing. Thus, putting Shiba Inu market value above $10 billion.
The primary digital currencies saw significant gains in the last few days. While some other coins also had an impressive rise. The cause can ascribe to seasonal factors. And technical chart signals that are both positive. There is also no interference from Federal Reserve policies that could have been expected during this period.
But SHIB’s 216% surge in the past week has well dominated Bitcoin and Ether, which are both up more than 20%.
The Tesla boss’s tweet late Sunday night U.S time with a picture of his dog and the comment “Floki Frunkpuppy” may have also contributed to this frenzy. This follows on from June where he announced that his new Shiba Inu would be dully named Floki. And, one last month saying: “My little Floki has arrived.”
The Shiba Inu coin is a new cryptocurrency founded by an anonymous person named Ryoshi last year. The website of this cryptocurrency refers to it as “the first decentralized meme token.”
It’s no surprise that the Shiba Inu dog meme would find its place in cryptocurrency. After all, some cryptos came up as jokes or for joke motives themselves—like Dogecoin. But this latest coin seems different. It started with an obvious nod towards internet culture. Then took off into something much more serious than many others have been able to do.
Shiba Inu Price Predictions: The Rise and Rise
It seems all but inevitable that SHIB will reach its old glory and start paving new highs for itself soon. Where it goes, development is up in the air. But, if Shiba bulls get their way, a Robinhood (NASDAQ: HOOD) listing or similar catalysts can keep these monolithic gains.
The Shiba Inu is one of the most popular breeds in Japan, but what does this mean for its crypto price? Let’s take a look at some predictions and find out.
After a year of climbing, CoinPriceForecast thinks that Shib may have topped out in December. The site predicts prices around $0.000059 by then. And they say this could be just the beginning of SHIB’s growth.
SHIB’s 12-month forecast places a price target of $0.0000559 on the cryptocurrency by next October. Which is much more optimistic than Gov Capital expects.
The Economic Forecast Agency predicts that with its current bullish momentum, the coin can see a high of $0.000069 by the end of 2021. And another price outburst next October.