{"id":27844,"date":"2024-12-12T09:29:05","date_gmt":"2024-12-12T09:29:05","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=27844"},"modified":"2024-12-12T09:29:05","modified_gmt":"2024-12-12T09:29:05","slug":"bullish-shiba-inu-shib-price-prediction-analyst","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=27844","title":{"rendered":"Bullish Shiba Inu (SHIB) Price Prediction (Analyst)"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

SHIB was predicted to witness a 180% rally supported by strong on-chain metrics and Shibarium\u2019s growing adoption.
\nOn the other hand, declining network growth and fewer large transactions suggest possible downward pressure.<\/p>\n

<\/a><\/span><\/h2>\n

Is SHIB Gearing up for a New Rally?<\/h2>\n

The second-largest meme coin has performed <\/span>quite<\/span> well in the last three months, registering a price increase of over 100%. It reached a local peak on December 7, but shortly after, it dipped substantially amid the latest market correction. In the past 24 hours, there has been a fresh resurgence, with SHIB currently trading at around $0.00002918 (per CoinGecko\u2019s data).<\/span><\/p>\n

<\/a>SHIB Price, Source: CoinGecko<\/p>\n

One popular analyst touching upon the asset\u2019s recent price fluctuations is the X user JAVON MARKS. The market observer <\/span>claimed<\/span><\/a> that SHIB has confirmed a bullish pattern, which could <\/span>be followed<\/span> by \u201canother major upside move.\u201d JAVON MARKS reiterated their prognosis that the valuation could spike by almost 180% and reach $0.000081:<\/span><\/p>\n

\u201cWith this target at $0.000081 continuing to be in play, we could <\/span>be soon<\/span> witnessing a more than 180% climb unfold in front of our eyes, and it may <\/span>just<\/span> already be <\/span>in-effect<\/span> as we speak.\u201d<\/span><\/p>\n

Some important on-chain metrics <\/span>support<\/span><\/a> the bullish forecast. <\/span>An example is the SHIB exchange <\/span>netflow<\/span> which has been predominantly negative in the last week. This signals a potential shift from centralized platforms toward private wallets, which in turn<\/span>, <\/span>reduces the immediate selling pressure.<\/span>\u00a0<\/span><\/p>\n

Another factor is Shibarium\u2019s progress. The layer-2 scaling solution, whose ultimate goal is to foster the development of the Shiba Inu ecosystem, recently reached another major milestone. As <\/span>CryptoPotato<\/span><\/em> reported<\/span><\/a>, the total number of wallet addresses surpassed two million. <\/span>Prior to<\/span> that, the<\/span> total transactions processed on the network crossed 600 million.\u00a0<\/span><\/p>\n

Something for the Bears, too<\/span><\/h2>\n

Despite the aforementioned bullish elements, <\/span>there are some metrics suggesting<\/span> that SHIB\u2019s price may head south soon.<\/span> According<\/span><\/a> to IntoTheBlock, Shiba Inu\u2019s Net Network Growth (a momentum signal \u201cthat gives a pulse of the true growth of the token\u2019s underlying network\u201d) is down 0.76% <\/span>on a daily scale<\/span>, entering the bearish zone.<\/span><\/p>\n

Large Transactions (a momentum indicator showing the number of transactions greater than $100,000) have also declined in the past 24 hours.\u00a0<\/span><\/p>\n

The \u201cInTheMoney\u201d metric (which measures the change in the number of SHIB investors currently sitting on paper profits) has plunged, too. <\/span>Currently,<\/span> around 69% of those invested in the asset are in the green, while 24% remain underwater.<\/span>\u00a0<\/span><\/p>\n

The post Bullish Shiba Inu (SHIB) Price Prediction (Analyst)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR SHIB was predicted to witness a 180% rally supported by strong on-chain metrics and Shibarium\u2019s growing adoption. On the other hand, declining network growth and fewer large transactions suggest possible downward pressure. Is SHIB Gearing up for a New Rally? The second-largest meme coin has performed quite well in the last three months, registering […]<\/p>\n","protected":false},"author":0,"featured_media":27845,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-27844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27844"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27844"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27844\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/27845"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}