The Shiba Inu (SHIB), currently the second-largest meme cryptocurrency by market cap, has experienced a notable surge in its price over the past week.
As of now, SHIB is priced at $0.00001823, reflecting a 25% increase in just seven days. Despite this growth, it remains below its September peak of $0.00002152, achieved on September 27, a level not seen since June. The upward movement began around September 25 when SHIB broke past the $0.000015 threshold.
The recent rally seems to have been driven by FOMO (fear of missing out) in anticipation of the upcoming launch of SHI, a new stablecoin within the Shiba Inu ecosystem.
A recent post from Shiba Inu’s official account on Platform X on September 25 created buzz, hinting at exciting developments. Additionally, “Lucie,” a member of the Shiba Inu team, shared insights about the SHI release, emphasizing its importance for the Shibarium network and generating considerable interest in the crypto community.
While the precise reasons behind SHIB’s rally remain uncertain, there is a prevailing sense of optimism about its potential. Some speculate that ongoing FOMO could drive SHIB’s price even higher, possibly reaching $0.000035 with a 90% increase. Earlier in September, Changelly predicted SHIB might rise to approximately $0.00002785, closely aligning with recent highs. Moreover, their forecast for the end of 2024 anticipates an average price of around $0.000035 for SHIB.
The recent launch of the TOKEN6900 (T6900) meme coin presale is a refreshing sight in a market oversaturated with presales focused on providing utility. Token6900 returns to the roots of meme coins, offering no utility. This is precisely what makes it appealing to those seeking a high-risk, high-reward asset to stockpile. Marketed as the world’s […]
XRP trading volumes have doubled in the past 24 hours. Although the price action has not reacted as expected yet, something could be brewing as bulls could be accumulating tokens at these low prices in anticipation of the token’s next leg up. Yesterday, the market reacted quite positively to the approval of the first Solana […]
With the U.S. Securities and Exchange Commission (SEC) already greenlighting spot Bitcoin and Ethereum ETFs, attention is now turning to the next wave of crypto-backed exchange-traded funds.
As crypto markets navigate another week of volatility and shifting sentiment, traders are increasingly turning their attention to emerging altcoins and high-momentum tokens.