Shiba Inu (SHIB): Finally in the top 10!

What was announced for several days finally arrives. With an increase of more than 10% over the day, the Shiba Inu token joins the top 10 of the largest crypto marketcap.

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With a gain of over 100% over the last week, the Shiba Inu meme token is once again in the spotlight. How far can this ascent continue?

Shiba Inu: A week of strong growth

Shiba Inu: A week of strong growth The fall of the global marketcap on the day yesterday rather spared the Shiba Inu project. While more than 90% of the top 100 were displayed in the red, the SHIB token showed a very strong increase in more than double digits.

Over the last 7 days, this is also the strongest increase in the top 100. With a token which more than doubled (+ 150%) during the period. At the start of the day, the asset even has reaches his ATH, for a level of $ 0.00008845. He has known since a phase of correction. As of this writing, the token is trading for 0.00007336. That is a drop of nearly 17% compared to the highest level ever recorded this morning around 5:00 a.m.

Be that as it may, this general increase for several weeks has made many investors happy. One of the token pioneers who invested $ 8,000 last August now sees his initial investment worth more than $ 5 billion.

The Battle with Dogecoin for the Number 1 Crypto Meme spot

Between the two cryptos, the confrontation promises to be fierce in the weeks and months to come. Earlier today, the Shiba Inu slipped into eighth place in crypto projects. Passing in particular in front of the Dogecoin. At the time of writing, Dogecoin has resumed its place of crypto meme number 1. Partly from to + 20% on the day when at the same time Shiba Inu has appreciated “only” by 10% . Partly due to the correction that Shiba Inu has been facing since the start of the day. Because if the currency shows an uptrend over the last 24 hours, it is like a trompe l’oeil.

While the marketcap differential went from single to double between the two projects a few weeks ago (over $ 15 billion), it is now much tighter. With barely $ 200 million differential in favor of Dogecoin. A gap that relates to the volatility of cryptocurrencies is ultimately extremely fragile.

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In fact, we can consider that the two projects are now also popular in the eyes of investors.

And now ?

Due to the nature of the Shiba Inu project and its very high volatility, it is difficult to predict anything. Nevertheless, the trend seems to be clearly bullish in the medium to long term.

Some observers are also reporting a token that could reach the threshold of $ 0.01. Other more fanciful estimates point to a token at 0.1 * $ and sometimes even 1 dollar for the course of the year 2025. However, such a level seems totally impossible to consider. At $ 1 per token, the Shiba Inu asset would then have a market cap nearly 500,000 times greater than that of Bitcoin.

What about Prediction Algorithms?

What about Prediction Algorithms?

To assess the future price of an asset, many investors rely on prediction algorithms. These make it possible to identify trends and to have an additional tool, although they have some limitations.

If we trust the predictions of DigitalCoinPrice, the price has not finished racing for the end of the year. With a token that could trade for 0.0001 USD by the end of the year. That is to say an increase close to 40% by the end of 2021. For its part, WalletInvestor believes that the Shiba is likely to enter a phase of correction. So, within 12 months, the platform’s models estimate that the token could trade for $ 0.00005. In the longer term, however, the decline should not be prolonged according to this source.

On the side of TradingBeasts, it is estimated that in the short term, the project could regain its ATH by the end of the year. In the longer term, the uptrend also seems particularly marked.

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