One day, a ShibArmy enthusiast declared: “ The Shiba Inu will make us all millionaires “. Although this glorious day is a long time coming, the recent surge in SHIB has already filled many hearts. With a 130% increase in just one week, crypto investors show overwhelming optimism
The dizzying rise of the Shiba Inu: the phenomenon that is shaking the cryptocurrency market
For Shiba Inu fans, the apotheosis will occur when the SHIB reaches the symbolic bar of the cent. Despite notable advances, from the introduction of Shibarium to the seduction strategy deployed to attract new followers to this Layer 2 Ethereum blockchain, including the spectacular “giga-burns” of SHIB and the creation of “.shib” domains , the real boom of this crypto meme is slow to materialize.
In February, bitcoin lit up the cryptocurrency market, closing out the month with record gains. However, since then the star has frozen out as other memecoins take over.
Like lightning streaking the sky, this information reported by Crypto Potato has lit up the crypto community in all its glory.
In fact, the Shiba Inu (SHIB), the second largest meme crypto by market capitalization, has been the star of the past week. With a meteoric rise of more than 130% in just seven days, the SHIB dazzled investors. Just yesterday it recorded a 65% increase, reaching record highs.
Currently rated at more than $0.00002the SHIB arouses the enthusiasm of traders, while experts examine the factors which could explain this rise, in particular the combustion rate. Bold predictions about its future are already circulating among industry analysts.
Perplexity’s predictions on the future of memecoin
The cryptocurrency market is in turmoil as the price of SHIB sees a meteoric rise, fueled by various factors. According to Perplexity, ChatGPT’s rival, this surge could be the prelude to further gains for the cryptocurrency.
Perplexity partly attributes this increase togeneral enthusiasm around cryptocurrenciesbut also togrowing interest in memecoins on social networks. The launch of Shibarium last year also played a major role in theattractiveness of investorsas will future updates to the Layer 2 solutions network.
Despite general optimism, Perplexity warns against possible future correctionssignaled by the relative strength index (RSI) indicating oversold.
Nonetheless, he predicts that SHIB’s price could double to $0.000041 in the near term, or even climb as high as $0.00008 if market conditions hold or improve.
Maximize your Tremplin.io experience with our ‘Read to Earn’ program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
