Shiba Inu is currently stirring significant excitement in the crypto world with explosive price gains following an extended period of disappointing performance for investors.
At the time of reporting, Shiba Inu is hovering around $0.00001894 after registering a massive growth of over 15% in the last 24 hours. Just yesterday, Shiba Inu was trading in the $0.000014 range. However, it has since surpassed the $0.000019 mark, all within a single day.
Shiba Inu Bulls Are Back
Shiba Inu established an intraday high at $0.00001935, although it has slightly retraced since then, gathering further momentum to break the $0.00002 level. Notably, Shiba Inu last traded at the $0.000019 threshold on July 17, nine weeks ago.
In other words, at its current market price, Shiba Inu is trading at a two-month high, effectively erasing all losses accrued in August and this month.
During these past nine weeks, Shiba Inu dropped to $0.00001087 on August 5, implying that the prominent meme coin has grown by a substantial 78% since that low to its recent two-month high of $0.00001935.
The ongoing Shiba Inu bull run is generating significant excitement and bullish comments from market participants. Many are speculating on its price trajectory in the coming days.
Shiba Inu to See 50% to 100% Gains in One Day
In a recent post on X, notable community member Docbakar argued that this is the time in the cycle when Shiba Inu could achieve 50% to 100% gains every single day. Shiba Inu’s content marketing specialist, Lucie, endorsed this sentiment with a community signatory “woof” comment.
Similarly, TradingShot, a well-known analyst on TradingView, remarked that Shiba Inu is on the brink of a new rally. He pointed out that the chart indicates Shiba Inu’s pattern closely resembles Dogecoin’s before its historic surge.
He noted the significant similarities between Shiba Inu’s current situation and Dogecoin’s rally from 2018 to 2021, adding that only time will reveal the outcome.
Furthermore, Shiba Inu’s bull run continues to give enthusiasts confidence in further gains that could make holders wealthy.
In a separate thread, community member Milan remarked that in 2020, SHIB turned everyday people into millionaires overnight, igniting mass adoption. He noted that SHIB is poised to disrupt the market again, creating a new era of wealth.
Some commentators believe that the larger FOMO around Shiba Inu’s bull run will kick in once SHIB reclaims the $0.00002 level.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
