Shiba Inu Price Prediction – $SHIB Target If Spot Ethereum ETH Approved

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As a seasoned crypto investor with a keen interest in meme coins, I’ve closely followed the price action of Shiba Inu (SHIB) and its recent surge fueled by Ethereum ETF approval speculation. While SHIB has experienced volatility since its introduction in 2020, its dedicated community and meme-based appeal have kept it among the top cryptos on the market.

Shiba Inu (SHIB), the second-largest meme cryptocurrency by market capitalization, experienced a 5.75% increase in value over the past 24 hours due to heightened anticipation surrounding the potential approval of the first Ethereum exchange-traded fund (ETF) in the crypto sphere.

The remarkable surge in SHIB‘s value has pushed it beyond the $0.000025 mark. Although SHIB has experienced a 6% decrease over the past month, its 5% increase within the last two weeks during the market uptrend leaves some wondering about potential price developments in the upcoming weeks.

Shiba Inu Price History

Back in August 2020, Shiba Inu entered the cryptocurrency scene as an Ethereum-compatible counterpart to Dogecoin, which has gained massive popularity. Despite being a newcomer, SHIB has managed to attract a sizable fan base thanks to its supportive community and the lingering fascination with meme-inspired digital currencies.

The market behavior of Shiba Inu has shown notable fluctuations, a trait shared by numerous cryptocurrencies.

Currently, Shiba Inu boasts a market value surpassing 14.9 billion dollars and holds a place within the top twelve cryptocurrencies in terms of market presence.

SHIB Price Analyst Predictions 

The cryptocurrency market globally has experienced a 8% increase within the past 24 hours, primarily driven by heightened anticipation regarding the potential approval of an Ethereum Exchange-Traded Fund (ETF) by the US Securities and Exchange Commission (SEC).

As a crypto analyst, I’m confident that the approval of the Ethereum-based ETF will spark optimism among investors, potentially leading to a bullish trend for cryptocurrencies like Shiba Inu. Riding the wave of excitement surrounding this development, Shiba Inu is poised for significant price action in the upcoming weeks.

Recently, the price action of SHIB has been erratic and less productive compared to recently emerged meme tokens.

Despite the uncertain price range of the self-declared competitor to Dogecoin, hovering between $0.000023 and $0.000025, its relative strength index has surpassed 49. This occurrence is noteworthy given the recent significant transfer of 3.10 million SHIB tokens by a large investor to an inactive wallet.

Based on data from Shibburn, the significant trading volume in the market has boosted Shiba Inu’s coin burn rate by more than fivefold. This increase fuels confidence in the token’s potential for growth in the mid-term and long-term.

As an analyst, I’ve uncovered some intriguing data regarding a significant transaction in the Shiba Inu (SHIB) market. Approximately 199 billion SHIB tokens, with an estimated total cost of around $1.68 million, were acquired between October 10, 2021, and September 11, 2023, from both Coinbase and decentralized exchanges. Just three hours ago, these tokens, now valued at approximately $4.88 million, were transferred to Coinbase for profitable realization of a near $3.2 million gain.
— Spot On Chain (@spotonchain) May 17, 2024

As a researcher studying the cryptocurrency market trends, I can tell you that according to CoinCodex’s predictions, SHIB is expected to experience significant growth. Specifically, this platform projects a potential surge of approximately 231% by June 20, 2024, reaching an estimated value of $0.00008566.

Krillin, a well-known cryptocurrency commentator on Twitter, shared yesterday that the prices of Shiba Inu and Dogecoin remain optimistic based on their daily chart’s 100-moving average continuing to hold strong.

As a crypto investor, I’ve noticed that while there are many crypto experts with a significant following, such as Blockgraze, they tend to be more optimistic about newer meme coins outside of the popular ones like Dogecoin and Shiba Inu.

As a researcher studying the cryptocurrency market, I’m constantly on the lookout for promising investments beyond Shiba Inu. However, it’s important to note that no one can definitively predict which meme coin will be the next big thing. That being said, I’ve been observing some meme coins that have gained significant attention lately and could potentially offer high returns if invested in early. One such coin is Dogecoin Elon Musk Version (DOGE-E). This coin has garnered attention due to its association with Elon Musk, who has publicly expressed support for Dogecoin. Additionally, it offers faster transaction speeds than the original Dogecoin and could potentially differentiate itself in a crowded market. However, as always, investing in any cryptocurrency carries risk, and it’s crucial to do thorough research before making an investment decision.

One trending meme crypto we’ve highlighted is WienerAI (WAI).

WienerAI – Best Meme Coin Alternative to Shiba Inu?

For individuals looking for a viable replacement for Shiba Inu in their investment portfolio, WienerAI, a fresh meme coin Initial Coin Offering (ICO), could be an intriguing choice. This up-and-coming project sets itself apart from the competition with its distinct value proposition and an energetic community.

As a crypto investor, I’ve been keeping a close eye on the new kid on the block, WienerAI. Surprisingly, it has generated quite a buzz in the crypto community within a short timeframe, drawing the attention of both conservative and adventurous investors alike.

Enhancing its investment allure is WienerAI’s harmonious blend of artificial intelligence, canines, and sausages. Unlike other meme coins that solely depend on hype to secure market standing, WienerAI distinguishes itself by prioritizing practical applications.

In simple terms, our upcoming initiative introduces an AI trading bot equipped with advanced capabilities. This bot is designed to identify profitable trading opportunities in unpredictable market conditions, as stated in its whitepaper. Key features include automated trades, effortless token swaps, and valuable trading advice and recommendations.

Based on the importance of bots in crypto trading, renowned YouTuber CryptoZeus is confidently anticipating that WienerAI’s WAI token will perform well upon its launch on the market prices.

 

As a crypto investor, I’d like to share that WAI is currently offered at a discounted price during the presale for just $0.000709. By taking advantage of this opportunity and becoming an early backer of this promising project, you can purchase WAI on its website. Additionally, consider boosting your returns by staking your tokens to earn rewards.

As a crypto investor, I can tell you that at the current moment, WienerAI has raised nearly $2.5 million in its initial funding round. This puts it among the most promising Shiba Inu alternatives on the verge of being listed on cryptocurrency exchanges.

Buy WienerAI

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2024-05-21 16:31