Shiba inu has been on an incredible surge for the past week. In the last week, the asset has gained 44% and in just the last day it’s risen 9%. SHIB is gaining momentum both on charts and within the community. It is expected that the dog token will continue to rise through the 1st week of October. However, how much can FOMO increase the price?
Shiba Inu social dominance has increased, which is a sign of FOMO. FOMO may increase buying pressure, which could lead to increased activity and a price boost. SHIB’s price could rise 90% to $0.000035 in the coming weeks, according to several bullish indicators. Santiment’s data, for instance, shows SHIB circulation in a single day reached its highest level of the past 10 weeks on Thursday. This spike is a sign of growing interest from the market in this asset.
Also, according to CoinMarketCapSHIB reported a 29,61% increase in trading volume over the last 24 hour. The asset’s recent price increase is also due to a 200% rise in the TV market. Bitcoin’s upward price trend has played an important role in the overall bullish market of altcoins. Investors and traders have paid more attention to SHIB than other meme currencies.
Also Read: Shiba Inu (SHIB) Flashes Strong Buy Signal, Hints at 55% Rise
Would SHI Stablecoin help Shiba Inu reach a 90 percent increase in sales?
In addition, the announcement that a SHIB stablecoin, SHI, Also, investors both old and young were intrigued. SHIB’s team hasn’t revealed the launch date of its stablecoin. Many expect SHI will bring more utility to Shibarium’s network. Shibarium’s increased utility may encourage more SHIB adoption, pushing its price towards 90%.
According to daily charts, SHIB has broken through the resistance level quickly. This means that the consolidation phase of the past few months may be over. Shibarium, crypto exchanges and users are all rushing to SHIB in anticipation for SHI. SHIB reaching $0.000035 with 90% FOMO would be a great achievement. The ultimate $0.05 goal is still a long way off. A surge of this magnitude would accelerate the timeline and be an enormous step in the right direction.
Also Read: Ripple: Is a 70% Surge to $1 Still Possible for XRP This Year?
Shiba Inu’s have been investing in the path to one cent for many years. Most price forecasts do not predict that this achievement will be achieved for 10-15 more years. Further crypto-booms and more innovation from the SHIB group could speed up that timeline. A 52,173.92% rally will be required to reach $0.01 in current prices. SHIB won’t reach $0.01 by 2025. But if its price follows Bitcoin’s, then perhaps it will in the 30s.
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Source: watcher.guru
