Shiba Inu Price Prediction and a New Multi-Chain Meme Coin Poised for 100x Growth at Launch
As meme coins recover, many predictions are emerging about how high their prices could rise, similar to expert predictions for Shiba Inu.
Recently, some financial experts and crypto analysts projected that Shiba Inu could turn bullish and potentially experience a 100x surge in the coming months.
These predictions suggest that the meme coin might have a strong end to the year. In this article, we’ll explore SHIB from both fundamental and technical perspectives.
We’ll also introduce an exciting new multi-chain meme coin project called Base Dawgz that’s generating buzz in the crypto community.
SHIB price predictionShiba Inu has captured attention for its community-driven nature and significant price movements. Recently, financial experts predicted a potential 400% surge in SHIB’s value. Currently, SHIB has increased by 3% in the past 24 hours, reaching $0.00001678.
This rise is notable, especially since the broader cryptocurrency market experienced a 0.5% decline over the past 24 hours. Despite this, SHIB is down by 2.76% over the past week and has lost 4% in the past month, which might seem bearish at first glance.
However, the Relative Strength Index (RSI), a key technical indicator, suggests that SHIB is currently oversold. An oversold condition often precedes a price rebound, indicating that SHIB may be poised for an upward surge.
Additionally, SHIB’s 30-day moving average recently fell below its 200-day moving average, which is typically a bearish signal that could lead to a further decline before a more sustained recovery occurs.
Two key factors suggest SHIB might not decline further soon: strong trading volume of over $250 million shows continued interest, and Ethereum ETFs have boosted Ethereum-based projects like SHIB, increasing volume and visibility.
Turning to technical analysis, SHIB’s short-term outlook reveals a falling wedge pattern, typically a bullish indicator. This pattern suggests a potential breakout to the upside. If SHIB breaks out of this pattern, a price increase of around 5.66% could occur.
On a broader scale, the predicted 400% surge in SHIB’s value would bring it close to its all-time highs, offering a potential 5x return on investment from current levels.
The last significant price increase for SHIB occurred at the start of the previous bull market, where a substantial surge was followed by a period of consolidation. Should SHIB return to the market structure low from that period, it could present an attractive buying opportunity.
New multi-chain project poised to explode in 2024: Base Dawgz (DAWGZ)Base Dawgz is making a big impact in crypto, raising $2.7 million with a presale price of $0.006725. The popular meme coin is on track to sell out its presale much earlier than expected.
Potential investors can visit our guide on how to buy Base Dawgz tokens here. If its launch aligns with the upcoming bull market, the token could see a significant surge.
$2.7 MILLION$DAWGZ just keeps pushing and we don't let up