How High Can Shiba Inu Surge In December 2024?

The Shiba Inu (SHIB) ecosystem has been on a rollercoaster throughout this month. Thankfully, the market witnessed more upticks and downtrends. The asset surged by over 40% over the past 30 days. After a slightly slow week, the meme coin was seen recovering yet again. But can the second-largest meme coin continue this momentum and record a new high in December 2024?

Also Read: Latest Price Prediction Indicates Dogecoin To Reach $0.98

Latest Ascent

Shiba Inu has been on an uptrend over the past day. The asset surged by nearly 4% over the last 24 hours. At press time, SHIB was trading at $0.0000254. Earlier this month, the meme coin rose to a high of $0.00003031.

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Currently, the asset remains 71% below its all-time high of $0.00008845. This peak was achieved about three years ago in 2021. Despite this disparity, the community is optimistic about SHIB’s ascent to a much higher price range.

For instance, an analyst who goes by Charting Guy predicts a significant price explosion to as high as $0.00022. This further marks an 800% increase over current values. He even went on to ask his followers, “Are your bags packed enough for something like this.”

Also Read: Currency: What’s Happening Between The US Dollar And Canadian Dollar?

Will It Be A Merry Christmas for Shiba Inu Investors?

According to data from CoinCodex, the meme coin will record a slight setback. Shiba Inu is expected to trade in a range of $0.00002493 to $0.00002567 by the end of the year. The price of SHIB declined by -1.13% compared to current prices. If SHIB performs as predicted, short sellers might profit by 2.42%. But November is expected to bring in bigger gains for SHIB investors. The asset, according to the firm, will rise to a high of $0.00005377 before the start of December.

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It should be noted that several other factors like market sentiment, increased changes in regulations and other macroeconomic events could change the course of the asset. SHIB could witness a possible surge or a major downfall based on these aspects in the coming month.

Also Read: Shiba Inu: $1000 Worth Of SHIB Becomes $31.7 Million Today

  • crypto
  • cryptocurrency
  • shib
  • shiba inu

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