Shiba Inus 2024: A Year of Surprising Gains
- Shiba Inus remarkable 207.2% potential ROI projection for November 2024 signals strong bullish momentum in the short term.
- Technical indicators show unprecedented market optimism with 100% bullish sentiment and an Extreme Greed index of 80.
- SHIB maintained impressive stability with 57% green days over the past month, while securing the #12 rank in global cryptocurrencies.
As 2024 draws to an end, Shiba Inu has shown remarkable resilience and growth potential in the cryptocurrency market. Currently trading at $0.00002518, the popular meme coins robust technical momentum has captured the attention of investors and traders alike. Changellys latest blog predicts a bullish outlook for the tokens year-end performance.
Riding on the wave of Bitcoins recent rallies, the overall market sentiment has been decisively optimistic as evidenced by the Fear & Greed Index reaching 80. Memecoins like SHIB, too are this bullish wave. The tokens robust 17/30 green days over the past month, along with 17.28% price volatility, suggests a maturing asset with improving stability.
As per Changelly, both short and long-term moving averages paint an encouraging picture. The 50-day moving average maintains an upward trajectory, while the 200-day moving average has shown consistent strength since November 21, establishing a solid foundation for future growth.
Shiba Inu: Signs of Continued Growth
Going forward, SHIBs future projections appear promising, with analysts forecasting a potential surge to $0.0000445 by late November 2024, representing a surge of over 76.% from its current levels. The token is expected to reach within the targets of $0.0000248 to $0.0000409, by December 2024, suggesting continued upward momentum.
Shiba Inus current market position stands at 12th in the global cryptocurrency ecosystem, with a substantial circulation supply of 15.2 trillion. This strong market presence, combined with recent price appreciation of 12.61% over the past week and 4.53% monthly gains, positions Shiba Inu favorably for continued growth through the remainder of 2024.
Overall, technical analysis suggests a predicted trading range between $0.0000259 and $0.0000406 for 2024, with a potential ROI reaching 125.6%. This forecast, supported by strong market fundamentals and technical indicators, points to sustained positive momentum for SHIB as we approach year-end.
Read more: https://www.tronweekly.com/shiba-inu-2024-surprising-gains/
Text source: TronWeekly
