The Shiba Inu (SHIB) ecosystem has had a rollercoaster year in 2024, with the meme coin experiencing a 137% spike over the past 12 months. This surge pushed the asset to reach a yearly peak of $0.00003592, although it still remains 79% below its all-time high of $0.00008845. Despite these fluctuations, SHIB seems to be struggling to eliminate a zero from its value.
Currently, SHIB is trading at $0.0000179, with a slight 0.06% dip over the past 24 hours. Earlier in the day, the meme coin hit a low of $0.0000171 before rising to a high of $0.0000180. While October is typically considered a bullish month, Shiba Inu has been moving slowly amidst a bearish atmosphere.
However, an analyst has brought back optimism to the market with a bold prediction. The expert believes that Shiba Inu Coin has responded favorably to a hidden bull divergence pattern, indicating a potential increase in price. The analyst predicts that if the current breakout holds, SHIB could reach a price objective of $0.000081, representing a potential 330% rise in the near future.
Data from IntoTheBlock shows that the total percentage of Shiba Inu investors making money at the current price is increasing, with 52% of holders currently in profit. Meanwhile, 43% of investors are enduring losses. If SHIB does experience a 330% rise as predicted, more investors could fall into the profit category.
Overall, the future of Shiba Inu remains uncertain, but with the potential for explosive growth on the horizon, investors will be closely watching to see how high the meme coin could go in the coming months.