Shiba Inu (SHIB) has captured market attention with its recent performance, showing a massive 204.7% increase following Bitcoin’s surge past $100,000. Analysts predict SHIB has the potential to climb another 107% in the short term, although a market correction may occur toward the year’s end. Future price movements for SHIB will depend heavily on broader market trends and developments in cryptocurrency regulations.
Recent Price Movements
In the last 24 hours, SHIB has gained 8.7%, with a 14.8% rise over the past 14 days. Since December 2023, the token has surged by an impressive 204.7%. However, the journey hasn’t been entirely smooth. Weekly charts reveal a 6.5% decline, while the monthly trend shows a modest 0.5% dip, reflecting ongoing market volatility.
SHIB’s upward trajectory is closely tied to Bitcoin’s historic breach of the $100,000 mark, which has sparked a rally across the memecoin market. Additionally, optimism surrounding the inauguration of Donald Trump as U.S. President has created a bullish sentiment. His plans to appoint a new SEC chair and a dedicated White House crypto advisor have strengthened investors’ belief in a long-term bull market.
Price Predictions for SHIB
According to CoinCodex, SHIB is expected to reach $0.00006088 by December 15, marking a 107.5% increase from current levels. However, they caution that this surge may not sustain, and a market correction could follow by the end of December.
In contrast, Changelly offers a more conservative forecast. They predict SHIB will hit $0.0000325 on December 15, representing a 10.77% rise. By year-end, they anticipate a pullback to $0.0000269.
Factors Influencing SHIB’s Future
SHIB’s impressive rally benefits from the broader market uptrend, but analysts stress the importance of sustainability. Factors such as Bitcoin’s price movements and regulatory changes in the U.S. will play a pivotal role in shaping SHIB’s future. Key developments, including potential shifts in crypto-friendly policies and investor sentiment, are worth monitoring closely.
For readers of Turkish NY Radio, Shiba Inu’s current momentum highlights its potential in the ever-evolving crypto market. However, investors should remain cautious, keeping an eye on macroeconomic trends and regulatory updates.
