SHIB Price on the Verge of Soaring by 800% in March – Anticipating a Phenomenal Rally for Shiba Inu
Shiba Inu, the popular rival of dogecoin, is causing quite a stir! Lucie, a marketing specialist within the Shiba Inu ecosystem, has dropped some intriguing hints that suggest a potential surge. Could this be the beginning of another incredible rally for SHIB?
Hold on tight and let’s dive in to find out!
If we look at historical data, we can see that Shiba Inu (SHIB) has the potential for a massive 800% surge. Recently, the price of SHIB skyrocketed by an astonishing 52%, following a mind-boggling 30,000% increase in its burn rate within just 24 hours. This unexpected move has shaken the crypto market. Lucie, an expert in Shiba Inu, predicts an 800% price surge, drawing comparisons to the 2021 bull run when $SHIB jumped 800% in a week, even without any burns.
The rally for SHIB is fueled by whale activity and the surge in burn rate. Lookonchain’s data revealed a significant whale event, where PEPE tokens worth $6.07 million were sold off, followed by the acquisition of 75.9 billion SHIB tokens valued at $893,000. Additionally, the surge in SHIB’s burn rate, which resulted in the destruction of 3.75 million tokens, has caught the attention of investors. This surge brings the total number of burnt tokens to approximately 410.70 trillion SHIB, significantly reducing the circulating supply to 581.65 billion coins.
Shiba Inu is joining the memecoin rally along with Dogecoin, Bonk, Floki, and Pepe, as observed by on-chain data provider Santiment. These fluctuations in social dominance are crucial in predicting peak moments as the week progresses, hinting at a possible surge in memecoin values. Dogecoin (DOGE) is sustaining its rally with an additional 18% gain, breaking the $0.15 mark. Similarly, Solana-based Dogwifhat (WIF) has witnessed a remarkable 35% surge in the last 24 hours, extending its weekly rally to 311%.
The broader cryptocurrency market is riding the wave of the memecoin rally, with strong indications of bullish sentiment. Shiba Inu’s surge, along with other memecoins like Dogecoin and Dogwifhat, highlights the growing influence of meme currencies in the crypto sphere. However, Shiba Inu’s climb to $0.00002 is facing a hurdle at $0.000014, and traders are eagerly watching for a breakthrough.
A rising RSI suggests there could be more gains, especially if it reaches overbought levels, sparking a buying frenzy. The MACD signals ongoing momentum, boosting optimism alongside recent buy signals. However, the rollercoaster burn rate, which soars one day and vanishes the next, adds uncertainty despite a recent 63% drop.
As the week progresses, all eyes are on the memecoin market, anticipating further price surges and potential peak moments.