Shiba Inu (SHIB), one of the leading meme coins on the crypto market, has climbed a steep 10% in the last 24 hours, sparking bullish price predictions. Optimistic U.S. Labor market data pushed equities and crypto markets higher on Friday, leading to a bullish close to markets and various cryptocurrency assets. SHIB has outperformed its greatest meme-coin rival Dogecoin: 10% to 5% today and 30% to 11% over the past 30 days.
The Bulls have a tight hold on SHIB heading into this weekend. SHIB is seeing renewed burn transactions, with 4.5 million SHIB burned in the past 24 hours according to Shibburn data. There are questions about how SHIB will perform over the next few days with the markets closed. Breaching $0,0002 would be a huge achievement for the asset, and would follow several price prediction paths curated by analysts.
Crypto trader Javon Marks recently painted a picture of how he sees Shiba Inu performing shortly. In a post to X on Friday, Marks predicts Shiba Inu’s next move to be a massive 351% spike to his larger target of $0.000081, noting the token’s strength. This massively trumps the $0.0002 price projections, however, the former is a short-term target. Breaching that level could signal a rise to bigger gains as Marks believes. “Shiba Inu’s price is starting to return with strength here while continuing to hold broken out of a recently set falling wedge pattern,” the analyst suggests.
Shiba Inu To Begin It’s Bullish October This Weekend?
IntoTheBlock data shows large transaction volume decreasing by over 50% and daily active addresses rose by nearly 4%. While whale activity is down, trading volume is up, created a mixed bag of predictions for SHIB.
Furthermore, Marks isn’t the only bull who is in on Shiba Inu throughout October. According to Changelly, SHIB will likely have a bullish month in October. Shiba Inu will rise to a high of $0.0000352 later this month. This marks a 111.67% spike from its current price level. Hitting $0.00002 this weekend would be a huge step toward that spike.
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A rise like this is much needed for the Shiba Inu community. With more developments in the SHIB network, such as an update on the SHI stablecoin the meme coin could see a bigger surge. The SHIB community tends to pump prices following positive updates. If the wider crypto market performs well in October as expected, that could also mean a further surge for Shiba Inu.