Shiba

Rally

Solana

Shiba Inu

TL;DR
<ul>
 <li>Analysts predict SHIB could see significant gains if it breaks key resistance, with reduced exchange supply supporting the bullish forecasts.</li>
 <li>Shibarium’s progress could also drive the meme coin’s next rally.</li>
</ul>
<h2 id="span-data-preserver-spaces-true-a-href-https-cryptopotato-com-wp-content-uploads-2024-11-shib_cb-61-jpg-data-wpel-link-internal-rel-noopener-noreferrer-nofollow-a-span"><a href="https://cryptopotato.com/wp-content/uploads/2024/11/SHIB_CB-61.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a></h2>
<h2 id="shib-gearing-up-for-another-pump">SHIB Gearing up for Another Pump?</h2>
The cryptocurrency market experienced a substantial correction in the past few days, with leading assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and more <a href="https://cryptopotato.com/200-billion-from-crypto-markets-as-bitcoin-btc-dumps-below-93k-market-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">heading south</a>.
The meme coin sector was not spared, too, and Shiba Inu (SHIB) is among the numerous tokens plunging from their local peaks. Currently, the self-proclaimed Dogecoin killer trades at around $0.00002472 (per CoinGecko’s data), which still represents a solid 46% increase on a monthly scale.&nbsp;
<figure id="attachment_372477" aria-describedby="caption-attachment-372477" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/11/SHIB-Price-8.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-372477" src="https://cryptopotato.com/wp-content/uploads/2024/11/SHIB-Price-8.png" alt="SHIB Price" width="570" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2024/11/SHIB-Price-8.png 1037w, https://cryptopotato.com/wp-content/uploads/2024/11/SHIB-Price-8-300x211.png 300w, https://cryptopotato.com/wp-content/uploads/2024/11/SHIB-Price-8-1024x719.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/11/SHIB-Price-8-768x539.png 768w, https://cryptopotato.com/wp-content/uploads/2024/11/SHIB-Price-8-50x35.png 50w" sizes="(max-width: 570px) 100vw, 570px"></a>
 <figcaption id="caption-attachment-372477" class="wp-caption-text">
 SHIB Price, Source: CoinGecko
 </figcaption>
</figure>
Some analysts believe the asset has yet to jump high, assuming it exceeds some important resistance levels. One X user <a class="editor-rtfLink" href="https://x.com/VipRoseTr/status/1861403517056893138" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">predicted</a> a 50% pump if SHIB rises above $0.00002800.
<blockquote>
 “The current setup suggests a bullish continuation, so traders should watch for confirmation of the breakout while placing stop-losses below the support zone to manage risk. SHIB remains a key asset to monitor for short-term growth,” the analyst added.
</blockquote>
Charting Guy also weighed in, <a href="https://x.com/ChartingGuy/status/1861591395527454888" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">envisioning</a> a massive price explosion to as high as $0.00022 (an 800% rise from current levels). “Are your bags packed enough for something like this,” he asked.&nbsp;
Other analysts outlining bullish SHIB predictions include Crypto King and Ali Martinez. The former <a href="https://cryptopotato.com/top-shiba-inu-shib-price-predictions-as-of-late/" data-wpel-link="internal" rel="noopener noreferrer nofollow">thinks</a> the meme coin could mimic Dogecoin’s (DOGE) exponential rally.
For his part, Martinez noted that almost 1.7 trillion SHIB tokens had been withdrawn from exchanges on a 24-hour scale at one point last week.&nbsp;“The last time we saw a similar spike, Shiba Inu surged 62% in price,” he added.
<a class="editor-rtfLink" href="https://cryptoquant.com/asset/shib/chart/exchange-flows/exchange-reserve?exchange=all_exchange&amp;window=DAY&amp;sma=0&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">According</a> to CryptoQuant, the amount of SHIB held on exchanges has declined sharply over the past few months, reaching its lowest level in three years. Shifting from centralized platforms toward self-custody methods&nbsp;could be viewed as a bullish sign since it reduces the immediate selling pressure.
<h2 id="span-data-preserver-spaces-true-shibarium-might-help-too-span">Shibarium Might Help, too</h2>
One major factor that could contribute to a possible SHIB bull run is the further advancement of Shiba Inu’s layer-2 blockchain solution – Shibarium.
The protocol has been making the headlines lately, blasting through numerous milestones. As CryptoPotato <a class="editor-rtfLink" href="https://cryptopotato.com/shiba-inus-shibarium-blasts-through-another-major-milestone-details/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">reported</a>, the total transactions processed on the networks exceeded 500 million, while total blocks crossed 8 million.&nbsp;
Shibarium aims to boost the Shiba Inu ecosystem by lowering fees, increasing speed, and improving scalability. Key updates in the last several months <a class="editor-rtfLink" href="https://cryptopotato.com/important-shiba-inu-shib-announcement/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">include</a> adopting a burn mechanism to reduce SHIB’s supply and potentially increase its value.
For more updates on the ecosystem,&nbsp;make sure to check out our&nbsp;<a class="editor-rtfLink" href="https://cryptopotato.com/shibarium-news/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Shibarium news</a>.
The post <a href="https://cryptopotato.com/bullish-shiba-inu-shib-price-prediction-50-rally-incoming/" rel="noopener noreferrer nofollow">Bullish Shiba Inu (SHIB) Price Prediction: 50% Rally Incoming?</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Bullish Shiba Inu (SHIB) Price Prediction: 50% Rally Incoming?

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