Shiba Inu has surpassed the expectations of many cryptocurrency traders. The coin has managed to birth a $5.7 Billionaire, who invested $8000 in 2020. Therefore, will Shiba Inu keep rising? Here are some of the few reasons it will keep growing.
Bullish Market
As of now, Shiba Inu is painting the markets green, disappointing the bulls. The coin made a more than 50% gain from its previous ATH of $0.000060 to $0.000084, which is its new ATH. This is a +150,000,000 percentage since its launch in 2020. The coin has had a total of 900% plus gain within the past month.
Increase in Shiba Inu’s Market Cap
The coin has had massive and exponential growth compared to any real-world tokens, even the stock market. The coin now has a larger market cap and trading volume than its inspiration, Dogecoin.
Dominant Memecoin
Shiba aims to be a dominant meme coin, and from the way the charts are rising, that seems to be true. Even though the currency has no use case, for now, there are speculations for transaction functions.
The massive whale buying late last month shows that the large institutions could be looking to make real value off the coin. The cryptocurrency market is highly unpredictable, and anything is possible; it is easy to turn a coin with no use case into a real-value asset.
Daily Analysis by Crypto Experts
Many cryptocurrency and trade analysts have taken a keen interest in the coin. The massive gains within the past week leave many questioning, predicting, and analyzing price charts. Many speculate that there might be a massive correction. Constant analysis of a coin is usually a bullish sign. Even when the currency experiences a bear market, it will only be for a while due to cashing out; the coin will shoot up again.
Shiba Inu Projects
LEASH and BONE are two projects on ShibaSwap, a Shiba Inu Dex. The tokens are among the reasons Shiba will keep rising; LEASH is a scarce token used for offering incentives on ShibaSwap, whereas BONE is used for holders as a governance token to vote for Doggy DAO proposals. New cryptocurrency technologies make coins rise in price.
Listing on Exchanges
The bullish market has made the coin popular for listing in most exchanges. Exchanges like to list coins with a massive trading volume because the traffic of the currency yields profit. Listings usually lead to an increase in the price of any crypto coin. Therefore, this is a bullish sign.
$1 Shiba Possibility?
The Twitter community in the crypto space greatly affects the rise and fall of a coin. Testimonies from Shiba Inu millionaires will influence an increase in buying hence a price rise.
Many people in the crypto space speculate that the coin will reach $1, and the number one rule is always to buy the rumors. Therefore, the buyer will not stop anytime soon.
Will Shiba Inu Keep Rising?
Yes, Shiba Inu will keep rising, especially in the incoming month. Despite the speculations of a market reset, the coin has promising market gains, and it might reach $1.