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Analysts now claim Shiba Inu (SHIB), the second most valuable meme coin after Dogecoin, is set for a 4X SHIB price surge that would likely shatter its all-time highs recorded in 2021 – in this article, deep dive Shiba Inu price predictions and discover whether Dogecoin20 could offer superior returns.
This follows an impressive year from Shiba Inu, which saw developers – led by Shytoshi – deliver the highly anticipated Shibarium layer-2 upgrade in Q3.
These recent developments, alongside a resurgence in meme coin markets, have not only propped up optimism across the crypto scene but pumped meme coins across the board – and now, analysts say the current environment is ripe for SHIB to break out from the current range.
SHIB Price to 4x? Meme Coin Mania Fuels +!9% Shiba Inu Price Rally
So far, the meme coin season has seen Shiba Inu emerge as one of the top performers, with the popular meme coin cementing its position in the meme coin leaderboard, only trailing DOGE, despite the rise of Solana-based rivals like DogWifHat.
But, growth hasn’t been limited to price action, with the new Shibarium layer-2 inspiring a substantial uptick in total-value locked (TVL).
Besides that, SHIB holders are also in the money and holding strong, with markets anticipating further price gains throughout the year ahead.
Indeed, in the last week alone, the token has surged +19%, outperforming both Bitcoin and Ethereum.
With recent solid performances, analysts believe SHIB price is ready to break through key resistance levels and register new multi-month highs, even posting an all-time high above 2021 highs around $0.00008845.
(SHIBUSDT)
The Bottom Line: Here’s Why SHIB Price Will 4X In 2024
Analysts add that this bullish momentum will be spurred mainly by the confidence surrounding the upcoming Bitcoin halving event.
After the network slashes miner rewards by half, most predict Bitcoin and meme coins will explode, massively benefiting SHIB.
Besides halving, enthusiasts expect meme coins to extend their gains in the upcoming bull run – thus far, the high demand and mega gains registered by meme coins like Dogecoin20, BONK, and WIF, for instance, is why traders are on high alert.
Of note, Dogecoin20 has raised over $10 million ahead of its highly anticipated launch – a new ERC-20 token currently in its presale phase – offering retail investors the chance to get in early at an ultra-low market cap.
Developers describe the Dogecoin as part of the “Dogecoin family of meme coins.” However, unlike DOGE, there is more utility to Dogecoin20 holders since they can stake and earn rewards.
Additionally, Dogecoin20 attempts to differentiate itself from other meme coins by offering a capped supply and a staking mechanism, features not present in Dogecoin. This could incentivize long-term participation and address concerns about inflation.
But the real opportunity lies in Dogecoin20’s market cap (around $10m), which is just a fraction of Dogecoin’s $26.6Bn, imagine if Dogecoin20 repeated just 1% of Dogecoin’s success. That would mean a 30x return for presale investors – an easy target in bull market conditions.
Dogecoin20 will likely capitalize on the “replica play” on DOGE and possibly attain the same viral success. Strategically, the meme coin creators are tapping into high expectations ahead of the Bitcoin halving event.
Dogecoin20 will launch on April 20, around 24 hours after the event.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Dogecoin20 turned out to be a massive dud