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Shiba Inu, the second-largest meme coin, maintains its rally, with a spike of over 23% in the last seven days, reflecting significant investor interest. Shiba Inu has experienced a notable surge in transaction volume, rising by over 43% to $2.18 billion.
This uptrend indicates increasing demand among major investors, potentially stabilizing $SHIB’s price on a bullish trajectory in the near term. As Shiba Inu progresses towards broader utility and acceptance, its journey offers insights into the dynamics of the crypto industry.
The project’s ability to evolve beyond its origins reflects a roadmap for similar tokens, community involvement, emphasizing innovation, and strategic growth. In this piece, we’ll delve into the factors driving Shiba Inu’s surge and its future price trajectory.
New Listings and Futures Contracts Push $SHIB’s Rally
The surge in $SHIB’s price follows the unveiling of new listings for both Shiba Inu and Bone ShibaSwap (BONE), the governance token for Shiba Inu, along with Shibarium’s gas token. Binance Futures is preparing to launch a USDC-margined 1000SHIB perpetual contract with leverage of up to 50x.
This strategic move, as stated by the crypto exchange, aims to diversify the range of trading options available on the Binance Futures platform, enhancing users’ trading experience. Binance Futures is scheduled to introduce the USDC-margined 1000SHIB Perpetual Contract on March 28 at 7am (UTC), offering leverage of up to 50x.
The underlying asset for this perpetual contract is Shiba Inu (1000SHIB), with settlement conducted in USDC. Moreover, Shiba Inu has achieved a listing on a prominent Australian exchange, Bitcoin.com.au. This milestone, announced on X, on Monday 25th March, 2024, underscores $SHIB’s expanding presence within the crypto market.
Exciting news! We have just listed Shiba Inu (SHIB)
Like, comment or tag a friend for a chance to win $100 of SHIB 🐕
T&C's apply*#bitcoin #crypto #shibainu #shib pic.twitter.com/8woDkN06YH
— Bitcoin.com.au (@bitcoin_com_au) March 25, 2024
$SHIB Price Prediction
Since the commencement of this year’s bullish trend, Shiba Inu has emerged as one of the most successful meme coins in the crypto space. As of the current writing, Shiba Inu’s price sits at $0.0000312, boasting a market capitalization of $17.75 billion and a market dominance of 0.67%.
Over the past 24 hours, $SHIB’s price has surged by 7.07%, further contributing to its over 200% increase in the last 30 days. The Relative Strength Index (RSI) value currently stands at 55.93, indicating a neutral position in the $SHIB market.
Both the 50-day simple moving average (SMA) at $0.0000192 and the 200-day SMA at $0.0000113 signal bullish momentum. Shiba Inu encounters its next resistance within the range of $0.0000344 and $0.0000372. Conversely, key support for $SHIB’s price lies between $0.0000205 and $0.0000241 in case of declines.
To gain deeper insights into Shiba Inu’s price prediction, watch the video above and subscribe to his YouTube channel for more crypto price analysis. Jacob Crypto Bury also manages a Discord server with 21,000 members, providing trading insights and updates on upcoming crypto presales.
Conclusion
Shiba Inu’s trajectory within the cryptocurrency realm holds great potential. Its evolution from a mere meme to a token of significant intrigue epitomizes the dynamic and revolutionary essence of digital assets.
As the Bitcoin halving event looms in late April, many analysts anticipate a surge in various tokens, including Shiba Inu. If you’re looking for cryptocurrencies with significant growth potential, check out our articles on the best crypto to buy now.
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