Shibu Inu Price Prediction as SHIB Spikes Up 2% – Time to Buy?
The Shiba Inu price has bounced by 2% today, rising to $0.00003305 as the cryptocurrency market as a whole barely moves in the past 24 hours.
SHIB has now risen by 3.5% in the past week and by a whopping 240% in the last 30 days, making it one of the best-performing top-20 coins over this period.
The coin could see further gains in the coming weeks, as the Bitcoin-focused bull market gives way to a more fully blown alt season.
And given that SHIB has some of the best fundamentals of any meme coin, it could really clean up.
Shibu Inu Price Prediction as SHIB Spikes Up 2% – Time to Buy?
SHIB’s chart continues to occupy a promising position, with its indicators all showing that it continues to hold onto significant momentum.
Its 30-day moving average (yellow) is far outpacing its 200-day average (blue) at the minute, while the fact that its current price is outstripping both shows that it has recently entered a full-on growth phase.
Likewise, SHIB’s relative strength index (purple) is creeping up again after falling from 90 to 70 in the past week, a sign that momentum very much remains with buyers.
Having said that, it does seem that some whales have been preparing to take profits.
A $SHIB SmartMoney deposited 200B $SHIB($6.5M) to #Gemini and #Cryptocom to take profits.
This SmartMoney spent only 10 $ETH($3,793) to buy 15.27T $SHIB($496M currently) in 2020.
He currently holds 2.6T $SHIB($84.4M) and the total profit is ~$127M!https://t.co/BWxcnWuwFR pic.twitter.com/0n0J3M20aV
— Lookonchain (@lookonchain) March 12, 2024
Regardless, the Shiba Inu price will resume rising after any near-term dips, with the overall market remaining in an excitingly bullish state, helped largely by Bitcoin ETF volumes and the upcoming Bitcoin halving.
There remains a chance that prices will rise across the board up until the halving in April, before dropping thereafter, yet the possibility of Ethereum ETFs (among other things) could mean that the current rally continues well into the second half of 2024.
The Shiba Inu price will benefit along with most other major tokens, with SHIB potentially rising more healthily as a result of its fundamentals.
For instance, its Shibarium layer-two network now processes around a million transactions per day, and has processed over 400 million since launching in August.
The launch of Shibarium serves as a catalyst for Shiba Inu’s longer term growth, which in turn means a greater SHIB price over time.
It could pass $0.000040 in the next few weeks, before reaching $0.000060 by H2 2024.
Newer Meme Tokens Bring Greater Upside Potential
SHIB remains an established and solid meme token, but it’s arguable that its days of eye-watering price gains are over.
Instead, traders may have to turn to newer, smaller cap meme coins, of the kind that rally big as and when more exchanges list them.
One token likely to do this is Scotty the AI (SCOTTY), an Ethereum-based meme coin that has genuine utility to back up its meme appeal.
It launched its presale several weeks ago and has already raised in excess of $10 million.
💥Presale Update!💥
ScottyTheAi #1 #memecoin (w/Ai utility) of 2024$SCOTTY has raised $10.1M
🎉 this was raised way faster than expected due to the high demand of the crypto community wanting to join ScottyTheAi.
Well on our way to closing out presale early and heading for… pic.twitter.com/zVlyAQWrXk
— Scotty The Ai (@ScottyThe_Ai) March 14, 2024
This is a very impressive total, and the main reason why investors have flocked to Scotty is that its native platforms promise to generate underlying demand for the SCOTTY token.
It comes with two main features, Scotty Swap and ScottyChat, both of which harness AI to offer value to investors and traders.
Scotty Swap is a trading protocol for token swaps, with its various AI tools providing a more user-friendly and streamlined experience.
Next, ScottyChat is generative AI-based bot that answers questions and queries related to price movements and trading signals, helping traders to make more informed trades.
Given that SCOTTY will be the native token for these features, it could experience considerable demand as adoption grows.
Investors can join the coin’s presale by going to the official Scotty the AI website, where 1 SCOTTY costs $0.01.
Once the sale ends, SCOTTY will list on a variety of exchanges, where it could vastly exceed its early presale prices.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
