{"id":7650,"date":"2024-09-18T07:14:56","date_gmt":"2024-09-18T07:14:56","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=7650"},"modified":"2024-09-18T07:14:56","modified_gmt":"2024-09-18T07:14:56","slug":"shiba-inu-price-prediction-epic-shib-bull-run-forecasted-but-worrying-signs-appear","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=7650","title":{"rendered":"Shiba Inu Price Prediction: Epic SHIB Bull Run Forecasted But Worrying Signs Appear"},"content":{"rendered":"

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

SHIB\u2019s price may soar soon due to technical patterns, reduced selling pressure, and increased token burns.
\nHowever, the stalled progress of the Shibarium network may limit the meme coin\u2019s growth prospects.<\/p>\n

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

The Wild Bet<\/h2>\n

Despite being on a downfall since March this year, some analysts believe the valuation of Shiba Inu (SHIB) may rise to astonishing levels <\/span>in the near future<\/span>. One example is the X user <\/span>pepa<\/span>, who <\/span>claimed<\/span><\/a> the price chart has formed a specific triangular shape that could be followed by a massive resurgence if broken to the upside. <\/span>Specifically, <\/span>the<\/span> crypto <\/span>enthusiast<\/span> speculated that SHIB might erase two zeros from its price.<\/span>\u00a0<\/span><\/p>\n

The popular meme coin currently trades at around $0.00001328 (per <\/span>CoinGecko\u2019s<\/span> data), <\/span>which was<\/span> roughly the same figure witnessed a week ago.
\n<\/span><\/p>\n

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

The<\/span> projected rally to as high as $0.001328 would mean a whopping 10,000% increase. <\/span>To reach that mark<\/span>,<\/span> SHIB\u2019s market capitalization must explode to almost $800 billion.<\/span> As of the moment<\/span>, the only cryptocurrency whose market cap exceeds that sum is Bitcoin (BTC), meaning the forecast seems quite unlikely to happen.\u00a0<\/span><\/p>\n

However, some on-chain metrics suggest that a SHIB rally <\/span>could <\/span>indeed<\/span> be<\/span> in the cards.<\/span> According to CryptoQuant, Shiba Inu exchange outflows have predominantly <\/span>surpassed<\/span><\/a> inflows in the past seven days, <\/span>hinting at<\/span> a shift toward self-custody methods. <\/span>This<\/span> could be <\/span>viewed as a bullish factor<\/span> since it reduces the <\/span>immediate selling pressure<\/span>.<\/span><\/p>\n

Another element worth mentioning is the SHIB burning mechanism. Data <\/span>shows<\/span><\/a> that the burn rate has soared by 563% in the last week, resulting in more than 59 million tokens <\/span>being sent<\/span> to a null address. <\/span><\/p>\n

The program\u2019s ultimate goal is to trim the <\/span>huge<\/span> circulating supply of the meme coin, making it scarcer and possibly more valuable in time. <\/span>The destroyed tokens since<\/span> adopting the effort <\/span>equal<\/span> over 410 trillion, leaving approximately 583 trillion in circulation.<\/span><\/p>\n

The Bearish Signal<\/span><\/h2>\n

Conversely, one factor indicating that SHIB\u2019s price may keep trading sideways or experience a pullback <\/span>is the stalled progress of Shibarium<\/span>.<\/span><\/p>\n

The layer-2 scaling solution entered the crypto space with a splash last summer, processing millions of transactions on a 24-hour scale. Lately, though, the daily transactions on the network have <\/span>tumbled<\/span><\/a> below 5,000. For more updates on the ecosystem,\u00a0<\/span>make sure to<\/span>\u00a0check out our\u00a0<\/span>Shibarium news<\/span><\/a>.<\/span><\/p>\n

Some industry participants believe the protocol\u2019s advancement could <\/span>be beneficial for<\/span> SHIB\u2019s price, meaning its stagnancy might have the opposite effect.\u00a0<\/span><\/p>\n

The post Shiba Inu Price Prediction: Epic SHIB Bull Run Forecasted But Worrying Signs Appear<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR SHIB\u2019s price may soar soon due to technical patterns, reduced selling pressure, and increased token burns. However, the stalled progress of the Shibarium network may limit the meme coin\u2019s growth prospects. The Wild Bet Despite being on a downfall since March this year, some analysts believe the valuation of Shiba Inu (SHIB) may rise […]<\/p>\n","protected":false},"author":0,"featured_media":7651,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7650","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\/7650"}],"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=7650"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7650\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/7651"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}