- Shiba Inu (SHIB) has shown resilience with a slight recovery, reaching $0.00002546 despite a minor dip this morning.
- Recent data reveals a significant profit by a whale investor, turning $2,625 into $1.1 million over three years.
- This highlights the potential for substantial returns in the SHIB market, especially with strategic patience and timing.
Shiba Inu price prediction sees potential for another major rally as investor turns $2,625 into $1.1 million. Explore the latest developments and market insights.
Shiba Inu Price Prediction: Signs of a Short-Term Rally
Today may mark the beginning of a short-term rally for SHIB, with the coin’s indicators showing some life and urgency again this morning. Its relative strength index (RSI) has risen above 50 in the past couple of hours and is on its way to 60, providing space for further price gains as it continues to rise. After climbing above the 200-day average yesterday, the 30-day average is rising again after a brief dip, suggesting that the coin has a few more days at least of gains ahead of it.
Whale Investor’s Significant Profit
What’s also encouraging is that SHIB’s 24-hour trading volume has more than doubled today, with interest possibly piqued by the news that one whale has made a 419x profit from Shiba Inu, after holding onto 48 billion SHIB for around three and a half years. This gain shows what can happen with enough patience and timing, with SHIB arguably being one of the best vehicles in the market for making substantial returns.
New Meme Tokens Bring New Market-Beating Rallies
Because SHIB has underperformed in recent months, some traders may be frustrated enough to consider looking at more promising alternatives. There’s a wide variety of new meme tokens in the market right now, and while some will undoubtedly be of a low quality, some offer interesting fundamentals. One of the newest and most interesting is PlayDoge (PLAY), an Ethereum-based cryptocurrency that will serve as the native token for its own play-to-earn pet game.
PlayDoge: A Promising New Entrant
PlayDoge has just launched its presale, which has so far raised over $200,000 despite opening only yesterday. This is a very promising early sign, with the PlayDoge game itself being perhaps the biggest indicator that PLAY will have a strong launch and life ahead of it. PlayDoge will work along the same lines as the famous Tamagotchi pets of the late Nineties, with users able to breed and take care of their own Shiba Inu dog. They will also be able to take their virtual pets on side-scrolling adventures and missions, thereby earning themselves rewards in the form of PLAY.
Conclusion
The Shiba Inu price is likely to rise in parallel with the wider market, while the coin itself may also benefit from its own fundamentals. Last month, for example, saw the news that developers are building a privacy-focused layer-three network for the token, something which will increase its utility. Combined with the pre-existing Shibarium network and the general Shiba ecosystem, this launch should help the Shiba Inu price rise in the longer term. It could reach $0.000030 in the next month or so, before reaching $0.000060 by the end of the year.
