Crypto’s second biggest meme coin, the $15 billion market cap Shiba Inu ($SHIB), may be on the verge of a blistering bull run, according to CryptoTuber Austin Hilton.
The renowned Web3 influencer says growing $SHIB adoption and the potential for further development of Shiba Inu’s ecosystem will be key price drivers in the coming months.
In recent years, the Ethereum-based Shiba Inu has been outgrowing its reputation as a meme coin with a raft of new developments to both the software and its ecosystem.
These include privacy features, a proprietary Layer 2 called Shibarium which improves transaction costs and efficiency, and a decentralized exchange (DEX) for token swaps, liquidity and staking within the ecosystem. These developments have helped $SHIB to rally 212% in the space of a year.
Hilton says this growth is far from over. He points to the expansion of ShibaSwap, alongside further token burns to reduce the currently gargantuan supply, and adoption by mainstream businesses for payments.
Will $SHIB Ride The Bull Run?
Hilton’s predictions come as the entire crypto market appears to be doing very well. Bitcoin ($BTC) has been posting new all-time highs since the reelection of Donald Trump earlier this month, a leader who has promised greater regulatory clarity and support for the industry.
At its current price, the oldest cryptocurrency is about $2,500 away from hitting $100k, an event which, psychologically, could go either way. Optimists predict the price point could rally retail to pile in and drive it even higher, while the more skeptical view suggests $BTC holders may want to do a spot of profit-taking to cause a dip and re-buy.
As we can see on Shiba’s chart, the meme coin rose in step with the rest of the market in early November, reaching a high of $0.00002949 on November 12. It has managed to sustain these gains, but remains 70.5% away from its all-time high (ATH) of $0.00008616, posted on October 28, 2021.
Source: TradingView
Still, Shiba is ready for another rally. The token’s 30-day moving average has converged with its price, while its relative strength index has remained between the healthy bounds of 30 and 70 for nearly all of the month-to-date. This sets holders up nicely for a festive meme season.
Shiba Inu Investors Stake Their $SHIB In Meme Coin Staking Project Crypto All-Stars For Multiplied Gains!
Web3-savvy Shiba Inu investors nowadays are investing in a new meme coin presale that’s bringing additional gains to their already lofty 200% over the year.
Crypto All-Stars has just raised just over $5.85 million at presale as meme coin fans pile in to take advantage of its alluring premise. It hopes to change the negative perceptions around meme coins by enabling crypto fans to put their digital funny tokens to work and generate yield.
Central to the platform is a bit of software called the MemeVault protocol, which already integrates some of the the world’s biggest meme coins—including Shiba Inu—with more coming later, according to the team.
Users can stake Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin in the MemeVault to earn passive income.
The current reward rate for staking these coins is an impressive 335% in the form of $STARS.
Following the purchase, investors can begin staking for rewards and claim the tokens once the presale ends.
Head to the website to buy $STARS with ETH, USDT, BNB, or even by card.
Follow Crypto All-Stars on social media – X (Twitter) | Telegram to stay up-to-date on all the developments.
Visit the Crypto All-Stars Presale Website Here
The post Shiba Inu Could Be Preparing for A New Rally Analysts Predict, $SHIB Price Up 212% in a Year appeared first on Cryptonews.
