The Shiba Inu price is up 3% in the past 24 hours amid hopes that the beta launch of Shiba Inu’s layer-2 network Shiberium could happen by the end of the week. This has helped limit a 10% increase for SHIB over the past 30 days, although the coin is down 3% over the past week.
The arrival of Shiberium potentially marks a new era for the Shiba Inu, in which it moves from being merely a meme cryptocurrency to a platform providing real utility. And in conjunction with the possible launch of SHIB:Metaverse this year, its launch could help SHIB rally to new record highs.
Shiba Inu Price Prediction as SHIB Sees Trading Volume Approaching $400 Million – $1 SHIB Coming?
SHIB’s chart is in mixed condition, and could potentially move higher from here. For example, its Relative Strength Index (purple) has started rising again after falling near 50 over the past few days, indicating a slight recovery from its late-February momentum.
At the same time, SHIB’s 30-day moving average (red) continues to rise above its 200-day average (blue). This suggests that its current rally may have room to continue before the coin becomes overbought.
In terms of resistance, a clear break above $0.0000135 could signal a more sustained rally for the altcoin. And with SHIB’s 24-hour trading volume rising above $400 million today, it seems there is liquidity and interest to mount such a rally.
Indeed, one thing that could help SHIB grow is the aforementioned launch of Shiberium in beta. While unconfirmed, it has been reported within the coin’s crypto Twitter community that Shitoshi Kusama – one of the key developers behind the layer-two network – has said that it’s beta launch will take place “this week”.
This may explain SHIB’s above average growth today. However, even if Shiberium’s beta doesn’t make it out until later this week, its arrival in the near future will undoubtedly boost SHIB further.
As far as SHIB can go, Some supporters are predicting it will break its all-time high this year (which is currently $0.00008616) and eventually, it may even reach $1.
That said, a price of $1 would mean that SHIB is up about 7,500,000% from its current price. Considering that the coin is already up nearly 23,600,000% compared to its all-time low of $0.000000000056366 (set in November 2020), such a rally may be hard to imagine, especially when SHIB has a total maximum supply of 999.99 trillion. Is.
Nevertheless, there have been reports that SHIB whales have increased their holdings in Mem Token, which points to further rallies.
Similarly, the impending launch of Shiberium will eventually be augmented by SHIB: The Metaverse, a Shiba Inu-themed virtual world in which users can explore and own NFT-based plots (and various other items). It is due to launch at the end of the year, and perhaps even more than Shiberium, it will help Shiba Inu become a full-fledged platform rather than just a meme token.
Given that SHIB will be the native token of its own metaverse, the subsequent launch will result in a lot of demand for the altcoin. All other things being equal, it should experience a steadily increasing price over time after launch.
Taking all this into account, SHIB could rise to $0.00002 by the end of the year, or even higher if the two aforementioned projections play out particularly well. This will result in a 50% profit on the current price of the coin.
High Potential Alternatives to the Shiba Inu
While SHIB waits for the launch of Shiberium and SHIB:Metaverse to enjoy a substantial rally, there are other high-potential tokens in the market with the potential for major growth in the short term. We’ve reviewed such coins in this list of the top 15 cryptocurrencies for 2023, as analyzed by crypto news Industry Talk Team.
The list is updated weekly with new altcoins and ICO projects.
Disclaimer: The Industry Talks section features insights by crypto industry players and is not part of the editorial content of 0x0news.com.
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