Shiba Inu Soars 500% in Two Weeks: Growth Potential Could Be Even Greater

With the cryptocurrency market rising and Bitcoin about to retest the US$70,000 zone, Shiba Inu (SHIB) has just attracted attention by entering the top ten cryptos by market value, following an impressive rise. This meme coin, which is often a topic among investors and sector enthusiasts, seems to know no limits in its upward trajectory.

Recently, market analyst Rekt Capital shared his optimistic view on the future of SHIB. After appreciating nearly 500% in two weeks, reaching $0.00004567, it suggests that Shiba Inu is on track to complete a U-shaped macro reversal and could trade close to $0.00006656. plus 100% for SHIB. This impressive metric points to even greater growth potential, fueling expectations of an explosion in the meme cryptocurrency’s price.

Shiba Inu’s trajectory is noteworthy: moving from 18th position with a market value of US$5.6 billion, to being among the ten largest cryptocurrencies. Despite a brief drop to eleventh position, SHIB celebrated a gain of almost 300% in the last week, reaching a price of US$0.0000455, according to market data.

At the time of publication, the price of SHIB was quoted at US$0.00003379 with an increase of 0% in the last 24 hours.

$SHIB

Reaches the blue resistance already

SHIB is up +300% from the initial post

Over time, SHIB is likely going to complete its Macro U-Shaped Reversal#ShibaInu #Crypto #BTC https://t.co/5DTAFOrROe pic.twitter.com/eqMlnjeq7r

— Rekt Capital (@rektcapital) March 4, 2024

This appreciation not only elevated Shiba Inu to second place among meme coins, with a market cap of a staggering $19.7 billion, but also triggered an exponential increase in trading volume. SHIB saw its trading volume surpass the US$20 billion mark, surpassing market giants such as Dogecoin (DOGE), Solana (SOL), Binance Coin (BNB) and XRP.

Having surpassed the psychological threshold of $0.00001, analysts now project that the next milestone for the Shiba Inu will be reaching $0.001, driven by a growing adoption rate. The fervent support of the SHIB Army, a dedicated group of followers, continues to be a crucial factor in attracting more investors.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.