While expectations for Shiba Inu were low in November, overshadowed by its older brother Dogecoin and a disappointing “Uptober,” the SHIB price appears to be back aligned with bullish projections running into 2025.
The token has made strides with a 20.97% rally today, putting SHIB back on the radar and setting high hopes for December, topping off the past months gains at 84.81%.
Indeed, Shiba Inu has been propelled to the forefront of the meme coin space, with today’s 325% increase in trading volume, nearing $6.5 billion.
SHIB Price Analysis: Could Shiba Inu Lose Another Zero By 2025?
The 400% SHIB burn increase and $0.00003 valuation is just the beginning, according to a recent X post by popular analyst Oscar Ramos.
The analyst emphasizes that market conditions are aligning favorably for SHIB. He noted that the token has maintained strong support levels despite recent market fluctuations.
SHIB / USDT 4H chart, flag pattern breakout. Source: Binance.These supports have formed a bullish flag pattern, with today’s breakout being the climax. Fully materialized, the pattern sets a near-term price target of $0.000035, an 8.76% increase from current prices.
However, the Relative Strength Index (RSI) at 80, signaling overbought conditions, does raise the potential for a correction.
Looking wider, Ramos notes that while Dogecoin maintains a $22 billion market cap, SHIB’s $10 billion valuation suggests room for potential growth based on historical patterns.
For the remainder of 2024, he cautions against expectations of breaking another zero within the next 60 days. The analyst considers this a more realistic target for 2025.
However, technical strength, combined with upcoming market catalysts, including the FOMC meetings and CPI data releases, lays the grounds that another rally may be imminent.
This Early Opportunity Could Be the Better Play
While another SHIB price rally is certainly appealing, it is new meme coins that are leading gains this cycle.
As “meme coin supercycle” sentiment takes hold and coins like $ACT and $Pnut experience sudden rises to prominence, strategic investors are looking to newer, high-potential low cap meme coins.
Among them, Catslap ($SLAP) stands out as a credible contender to the likes of Popcat, Mogcat, and Mew.
Catslap is far beyond a mere meme coin; it’s an addictive gamified experience that calls its holders into competition, clicking to increase their country’s score and move up the Slapometer.
This feeds heavily into what analyst Murad Mahmudov notes a paradigm shift towards “movement coins” poised to reshape the crypto landscape.
These community-centric meme coins hold exponential growth potential, forming ideologies and deep-rooted engagement. Something which may be credited to its instant success, amassing a $26.5 million market cap so far!
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The post Shiba Inu Burns Push SHIB Price Over $0.00003, Analysts Predict Another Zero Going Down by 2025 appeared first on Cryptonews.
