SHIB Price 260% Surge on the Horizon?

The meme coin market has surged over 7.5% in the past 24 hours, with nearly all of the top ten meme coins showing growth. Dogecoin is up by 6.7%, Shiba Inu by 6.6%, Pepe by 3.3%, ai16z by 22.8%, Bonk by 7.6%, Pudgy Penguins by 10%, dogwifhat by 9.3%, and FLOKI by 4.8%.

A recent post by crypto analyst Javon Marks on X has created a buzz among meme coin fans, especially those who follow Shiba Inu. Over the last six months, Shiba Inu has climbed more than 51.3%. This month alone, it has risen by 5.36%.

With its recent gains and growing market interest, many are asking: Could this be the beginning of something much bigger for SHIB?

Big Gains Ahead for SHIB

Marks predicts that Shiba Inu’s price could reach as high as $0.000081, suggesting a possible 260% growth. Over the past year, SHIB has already gained about 105.1%.

Whale Movement Sparks Interest

Adding to the excitement, reports show that a whale recently withdrew around 220 billion SHIB tokens, worth over $4.63 million, from Binance. Such whale movements often signal strong market interest and could point to a potential breakout for SHIB.

Currently, SHIB is priced at $0.00002239, and the daily chart highlights a key resistance level at $0.000029. For SHIB to achieve the predicted growth, it needs to break through this resistance level. Right now, the price is still about 29.52% below that resistance.

Trading Volume on the Rise

The On-Balance Volume (OBV) for SHIB is currently $646.3 trillion, with a 24-hour trading volume of $402.5 million. These numbers suggest that trading activity for SHIB is growing, which could be a positive sign for future price movements.

A Good Time for Smaller Tokens?

While Bitcoin and Ethereum are stabilizing, smaller tokens like Shiba Inu often gain momentum during such times. This trend could provide the boost SHIB needs to push past its resistance and rise further.

The coming months could be crucial for Shiba Inu as it faces key resistance levels and growing market interest. If it can break through these levels, SHIB could be set for significant growth.

FAQs