Shiba Inu Price Surges, Outshining Dogecoin
The dog-themed meme coin, Shiba Inu (SHIB), has experienced a significant increase in its price after a minor correction. This bullish momentum has caused a stir in the market and raised expectations of new all-time highs that could surpass Dogecoin (DOGE).
Shiba Inu’s Promising Prospects
Santiment, a decentralized market intelligence platform, recently highlighted Shiba Inu’s potential within the crypto market. According to Santiment’s report, SHIB is expected to make a strong rebound from its initial price correction and has become one of the top digital assets for traders, potentially surpassing Dogecoin.
In the past month, SHIB has seen a surge of over 261.18%, reaching a price above $0.000044 before retracing to around $0.000027. However, despite this correction, Shiba Inu quickly rebounded and demonstrated remarkable resilience by overcoming key resistances and pushing out of a downtrend.
Unlike Dogecoin, which only recorded a weekly gain of about 35%, Shiba Inu’s price has surged over 160%, showing its ability to keep up with bullish trends in the market. Additionally, Shiba Inu has gained favor among investors and traders, with its daily trading volume surpassing that of Dogecoin.
SHIB Re-Enters Bullish Trajectory
A prominent Shiba Inu advocate and crypto trader known as SHIB Knight on social media shared an optimistic outlook for SHIB’s price trajectory. According to their analysis, Shiba Inu has broken through the downtrend and is now on a bullish trajectory.
In the last 24 hours, Shiba Inu has experienced a 12.20% increase in its price, reaching $0.000033 at the time of writing. This upward movement indicates a positive shift from its previous downtrend.
Traders and investors are closely watching Shiba Inu and maintaining a bullish stance on its price outlook. Many believe that it has the potential to surpass other meme coins like Dogecoin in the crypto space.
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