Shiba Inu price breaks four-year downtrend, next ATH?

The Shiba Inu Prize, a popular meme-based coin, has attracted a lot of attention this month. With a 230% increase in value over the past year, SHIB has generated excitement among investors. Despite some market fluctuations, the token’s strong performance signals potential for further growth in 2024. Analysts believe SHIB could be on track to surpass its all-time high (ATH) after breaking a year-long downtrend, raising hopes fuels even greater profits in the future.

Is the ATH coming soon after Shiba Inu price breaks 4-year downtrend?

Shiba Inu price is showing signs of a major breakout after breaking a significant four-year downtrend. The cryptocurrency, which has seen a steady decline since its all-time high in October 2021, could be on track to surpass this peak if its current bullish momentum continues.

The last time SHIB reached its highest value of $0.00008845 was over four years ago, on October 28, 2021. Since then, the token has seen a sharp decline of 65.62%, causing concern among investors gave. However, recent price action suggests that a reversal may be underway as SHIB has finally broken out of its ongoing downtrend.

Analysts are now speculating that Shiba Inu could reach a new all-time high if the uptrend continues. With growing investor confidence and increasing market activity, the Shiba Inu price prediction It may be preparing for another surge that could eclipse its previous ATH.

SHIB price rise sparks bullish optimism

Shiba Inu has seen an impressive increase of over 80% in the last month, including a 22% increase in the past week. The SHIB price is currently at $0.0000303 and is showing signs of continuing this uptrend with a daily increase of 3%. This rally is reminiscent of SHIB’s explosive performance in 2021 and is fueling speculation that a similar rise could be on the way.

Bitcoin’s recent rise above $96,000 has further fueled bullish sentiment across the crypto market. If Bitcoin breaks $100,000, many believe it could push SHIB price to ATH. Major altcoins such as ETH, BNB and TRX are also seeing a price increase, adding to the positive market atmosphere.

Top Meme Coinsincluding Dogecoin, PEPE and Floki, also experienced bullish momentum and contributed to the broader trend. Whale activity in SHIB was particularly notable as interest from major investors increased.

In addition to the optimistic outlook, the Shiba Inu ecosystem continues to evolve with significant updates, particularly to the Shibarium and Shibburn projects. The burn rate for SHIB has reached new heights with over 2 billion tokens burned in the last 24 hours.

HOURLY SHIB UPDATE$SHIB Price: $0.00003004 (1hr -0.37% ▼ | 24hr 2.45% ▲ )
Market Cap: $17,745,369,143 (2.54%▲)
Total supply: 589,257,726,144,350

TOKEN BURNED
Past 24 hours: 2,043,819,527 (144223.06% ▲)
Last 7 days: 4,253,530,390 (1995.88% ▲)

– Shibburn (@shibburn) December 4, 2024

Shiba Inu price has broken its four-year downtrend, indicating further growth potential. Growing investor confidence and market sentiment are driving the rise. If momentum continues, SHIB could surpass its previous all-time high.

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