Will The Shiba Inu Price Rally to $1 by 2024 – What is the Next SHIB Coin?

Shiba Inu (SHIB) is currently experiencing strong performance, likely influenced by the recent Bitcoin surge, which has generated positive price action.

This analysis explores SHIB’s technical and fundamental aspects, examining market factors contributing to its growth and possible future trends.

Shiba Inu (SHIB) price analysis

SHIB currently holds a market cap of about $11 billion, making it the 12th largest cryptocurrency. This high ranking shows growing interest in meme coins, as investors increasingly look beyond utility-focused assets to tokens backed by active communities.

SHIB’s rise points to a renewed wave of retail investment in meme coins. Other meme assets, like Dogecoin (DOGE), have also seen gains recently, with DOGE jumping 15% after Elon Musk’s social media post.

This trend underscores the impact of outside influences on meme coin markets, with SHIB reflecting strong bullish momentum as more retail investors return.

SHIB’s trading volume jumped 31% in the past 24 hours and is up 7% over the week, likely due to broader crypto trends and market influencers. With Dogecoin’s recent price move, SHIB could see additional upward momentum soon, as it often mirrors DOGE’s movements shortly after.

Although it started as a meme coin, Shiba Inu now offers a wider ecosystem that includes ShibaSwap, its decentralized exchange, and related tokens like Bone and Leash. These additions boost SHIB’s appeal to both meme coin fans and users interested in its expanding features.

Shiba Inu (SHIB) price prediction

SHIB’s technical chart reveals strong support levels that could boost its upward movement. A key support zone sits near the lower trendline, an area SHIB has successfully tested multiple times. As SHIB rises, it stays above the 0.618 Fibonacci retracement level and is now aiming for the 0.5 level, which could bring a 12% gain if the trend continues.

Momentum indicators add to this bullish outlook. Positioned in the bullish control zone on the Stochastic Oscillator, SHIB has strong potential for gains. Volume-weighted indicators support this, suggesting SHIB might reach around $0.00002056, an 8% increase.

If SHIB breaks above the 4-hour resistance without a major pullback, it could climb up by around 14%, especially with an explosive rally. The current technical setup hints that SHIB may test higher resistance zones, particularly near the 0.5 Fibonacci level.

If momentum continues, a pullback could create support around the Fibonacci retracement and 12-hour volume-weighted bands, allowing SHIB to consolidate before pushing higher. Traders may watch for short-term corrections, which could offer buying opportunities within this ongoing bullish trend.

Pepe Unchained (PEPU): Next SHIB Coin?

Pepe Unchained (PEPU), one of the year’s standout ICOs, has finally hit the $24 million mark in its highly successful presale. Currently priced at $0.01199, $PEPU’s value will increase in just 16 hours.

Investors can join the presale using ETH, BNB, USDT, or a bank card, with no minimum investment required, making it accessible to both large-scale investors and casual buyers.

We just hit 24M! the GigaBrain community really is showing out for Pepe and we love it!

Thank you so much for your continued support and we can't wait for what the future holds!! pic.twitter.com/HReinuWM76

— Pepe Unchained (@pepe_unchained) November 1, 2024

This project prioritizes early adoption and investor security, having received clean audits from SolidProof and Coinsult, confirming no threats to investor funds. Pepe Unchained aims to create the first meme coin Layer 2 ecosystem, a game-changer for meme tokens, offering speeds up to 100x faster than Ethereum’s network.

Currently, Ethereum processes about 15 transactions per second, with high gas fees that often lead to missed trading chances and profit losses.

$PEPU’s Layer 2 ecosystem will feature instant bridging to ETH, a chain explorer, a DEX, advanced analytics, and more components to be revealed soon. This ecosystem allows investors to stay on ETH while bypassing its high fees and slow speeds, which is promising for meme coin developers.

Additionally, $PEPU has launched the “Pepe Frens With Benefits” developer grants program, which invites developers to build on its Layer 2. Applicants provide their project details, and the “Pepe Council” will select grant recipients.

The presale’s strong performance has enabled developers to start building $PEPU’s Layer 2 network, reserving 12.5% of the 8 billion token supply for it. Recently, the team shared an update on a modern and feature-rich testnet.

Over 1.6 billion $PEPU tokens have already been staked, offering a 98% staking APY to help investors double their holdings over time.

With a unique mix of presale excitement and real utility, Pepe Unchained could stand out in the meme coin space. In a market where many meme coins are similar, this distinct approach might be exactly what $PEPU needs to succeed.

To participate in the $PEPU token presale, go to pepeunchained.com.

Related

• Shiba Inu Investors Seek Bigger Gains This Quarter – Which Meme Coin Is on Their Radar?
• Is Pepe Unchained the Best Crypto to Buy for the Meme Coin Supercycle?

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