Shiba Inu surged nearly 280% in March this year on the heels of the Bitcoin halving event. SHIB cooled down in price after that, only to up steam in the charts in November 2024. After Trump won the US presidency, Bitcoin skyrocketed to an all-time high of $93,477. The broader cryptocurrency markets rallied, making leading altcoins hit new yearly highs.
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SHIB surged nearly 50% after Trump’s victory and is currently trading at the $0.000024 price range. However, leading on-chain metrics and prediction firm CoinCodex forecasted that Shiba Inu could double in price this month. The firm stated that SHIB is consolidating in price and is ready for another leg-up.
According to the latest price prediction, Shiba Inu could surge by another 101% by the end of the month. The forecast indicates that the dog-themed token could reach a target of $0.000048 in the indices. The tentative timeline to rise by 101% and double in price is by the end of November, according to the price prediction.
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“Shiba Inu is anticipated to change hands in a trading channel between $0.00001965 and $ 0.00004862. This could result in a potential return on investment of 101.30% compared to the current rates,” read the price prediction.
Shiba Inu: Price Doubling on the Cards for SHIB
Source: Twitter
When meme coins rally, they move up dramatically in the charts, leaving their previous numbers far behind. The returns could prove magnificent, as a 101% rise in less than two weeks is impressive. No other financial asset, other than cryptocurrencies, can double an investor’s money in a short period.
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Apart from doubling in price, read here to know a realistic price prediction on when SHIB could reach $0.01. The 1-Cent dream is alive and kicking and that’s the most important target that investors are waiting for. When Shiba Inu reaches the $0.01 mark, present-day investors (who hold on to the long-term) could make massive amounts of money.
