As Bitcoin has absorbed liquidity from the entire crypto market recently, the altcoin market is still lukewarm, and the altcoin market index has dropped from 88 some time ago to 65, showing that the altcoin market is still brewing.

Back to today’s topic, many of the recent messages are about SHIB, and many friends are concerned about the situation of SHIB. Let’s continue talking about SHIB today.

SHIB price retreated yesterday, falling to a low of $0.000026.

From a technical perspective, the Shiba Inu price has failed to sustain above the 21-day moving average (21DMA) and may soon test the 50-day moving average (50DMA) in the $0.000025 area. Although the price is currently weak, the Shiba Inu is still in an upward trend channel. If the bulls start buying on dips, there is still a possibility of a rebound in the short term.

Recently, there has been an increase in whale activity on the blockchain, which suggests that the involvement of large investors may bring changes to the market. Whales are considered "smart money" and when they start to act, it usually means that the risk of the market is returning to a more favorable situation.

Can SHIB rise?

Although the price of Shiba Inu may continue to rise in the short term, especially in the current market environment, the possibility of a sharp and substantial recovery by the end of this year or early 2025 cannot be ruled out. Especially with the upcoming Trump administration, the market sentiment remains optimistic. The increasingly heated discussion of Bitcoin strategic reserves may bring a greater impetus to Bitcoin prices, thereby stimulating demand for altcoins, especially meme coins.

As the memecoin season approaches, SHIB, as one of the most unique memecoins in the market, may have another exciting opportunity to explode. Considering its huge community support and expanding real-world applications, Shiba Inu is expected to perform well in the coming months.

Can SHIB achieve a 10-fold return?

If Shiba Inu can break out of its recent lows and challenge its all-time high of $0.000090, it has the potential for an exciting parabolic rally in the future. The 3.618 or 4.236 Fibonacci extensions from the 2023 low to the 2021 high suggest that a 10x rally from current price levels is entirely possible. This would push Shiba Inu’s market cap to over $150 billion, and while that may sound unrealistic, SHIB’s market cap is only about 4% of Bitcoin’s in the event of a Bitcoin price breakout above $200,000, making this a not-too-far-reaching goal.

Although Shiba Inu's current price performance is weak and may continue to rise in the short term, market sentiment remains optimistic as the coin price rises, and it is expected to see a strong recovery at the beginning of the year. During this period, SHIB, as one of the market leaders, may regain market attention and provide an opportunity for 10x returns. #SHIB20000U一个亿 $SHIB