Shiba Inu (SHIB) is showcasing a cup-and-handle pattern, a commonly recognized chart indicator that may lead to significant price escalations. Analysts predict a possible 90% rise in its price, hitting approximately $0.00003545 by early 2025. The suggestion arises from the formation of this pattern which typically precedes significant upward trends.
Additionally, there's been a notable increase in whale transactions, touting a 4% boost, indicating strong interest from large investors. In just 24 hours, 2.57 trillion SHIB tokens were traded, demonstrating a proactive interest in the token.
Despite these positive indicators, SHIB has somewhat lagged compared to Dogecoin, which has experienced a staggering 115% year-to-date growth. However, the ongoing developments in the Shiba Inu ecosystem, including the proposed Strategic Hub for Innovation and Blockchain (S.H.I.B.), may bolster SHIB’s potential rise in the coming months.
