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Popular Shiba Inu community figure $SHIB KNIGHT expresses confidence in $SHIB’s prospect, speculating that the token is ready for a new all-time high ($ATH).
$SHIB KNIGHT suggested that the dog-themed token is poised for a dramatic price increase that could make $SHIB conquer $0.00008616 and create a new $ATH.
According to $SHIB KNIGHT’s projection, Shiba Inu would rally beyond its previous $ATH of $0.00008845, registered on October 28, 2021. The expert did not specify an exact target for Shiba Inu. Nonetheless, they asserted that Shiba Inu is ready for a new all-time high.
Shiba Inu Soars 11.48% Since $SHIB KNIGHT Declaration
Interestingly, Shiba Inu has witnessed an incredible performance since $SHIB KNIGHT made the declaration. At the time of the post, Shiba Inu was trading at $0.00001706. The dog-themed token is up 11.48% to $0.00001902 since the expert projected that Shiba Inu is ready for a new all-time high.
At the current price, $SHIB is up 16.59% in the daily charts and 31.78% over the past week. Data from CoinMarketCap also indicates that $SHIB’s price has rallied 38.94% in the monthly charts.
Shiba Inu Cements Its Position as 13th Biggest Token
Shiba Inu’s recent performance also positively impacted the asset’s market cap, adding over $3 billion in one day, cementing its position as the 13th-biggest crypto.
At press time, Shiba Inu boasts a market cap of $11.24 billion, surpassing Chainlink’s ($LINK) valuation by more than $3 billion. For context, $LINK is the 14th biggest cryptocurrency by market cap.
Experts Believe $SHIB Can Hit New $ATH
With Shiba Inu currently trading at $0.00001902, $SHIB’s price must surge 365.09% to set a new all-time high. Recall that Shiba Inu’s recent all-time high was $0.00008616, made on October 27, 2021. Since then, Shiba Inu has not been able to break it.
Several Shiba Inu proponents believe Shiba Inu can achieve this feat in the 2024/2025 bull run, with many projecting that $SHIB could surpass the $0.0001 price territory this season.
The $0.0001 projection has gained prominence within the Shiba Inu community. As reported earlier, $SHIB KNIGHT forecasted that Shiba Inu would hit the $0.0001 target this year. Additionally, other famous crypto analysts, including Eunice Wong and Javis Marks, issued similar predictions for $SHIB.
These experts have remained confident in Shiba Inu’s prospects due to the positive developments happening within the $SHIB ecosystem. For instance, Shibarium, Shiba Inu’s Layer-2 blockchain, recently witnessed a spike in its Total Value Locked (TVL). Notably, Shibarium’s TVL surged to $3.64 million in one week following the launch of K9 Finance’s liquid staking solution, Bonecrusher.
Bonecrusher’s launch on Shibarium also boosted the network’s daily transaction volume by 82% following its debut, with the figure currently standing at 7,060. As Shibarium transaction volume soars, the uptick could drastically reduce $SHIB’s supply.
Meanwhile, there are speculations that the team is preparing to introduce “something big” for Shiba Inu in the fourth quarter of the year that could potentially drive $SHIB’s adoption. These positive developments could set the stage for Shiba Inu’s rally to a new all-time high.
cryptonewsz.com
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