Shiba Inu Predicted to Soar 74% to New Monthly Peak

• Shiba Inu Begins Q4 with Significant Gains
• Previous Attempts and Project Launches
• Expectations of New Gains
• Potential 74% Surge Predicted
• The Volatility of Cryptocurrency Market
• Current Trading Value

Shiba Inu Begins Q4 with Significant Gains

The Shiba Inu$0.000010 -2.05% token has made robust strides at the start of the fourth quarter, observing a near 25% increase over the past 30 days. There are anticipations of the token ascending over the $0.00001 mark, erasing its fifth 'zero' from the indices.

Previous Attempts and Project Launches

The canine-themed cryptocurrency has, so far, struggled to maintain its trading value at four 'zeroes' over the past six months, despite numerous attempts. The much-anticipated Shibarium layer-2 network's launch did not significantly impact SHIB's price, failing to maintain a sustainable increase.

Expectations of New Gains

Nonetheless, a prominent cryptocurrency analyst has proffered that Shiba Inu may yield fresh gains and deliver satisfying returns for investors. The analyst elucidates why investing in SHIB now could be notably beneficial for holders.

Potential 74% Surge Predicted

Leading cryptocurrency analyst Kaleo suggested to his 605,000 followers on X that Shiba Inu is poised for a rally. He expounded that this price increase could happen upon breaking above a horizontal resistance and retesting it as support, sharing a chart for visual representation. Expect to see some green candles hitting the green box when the candles reach the far right side of the screen, he forecasted.

According to the shared chart, it is anticipated that SHIB might surge above the $0.000015 level next month in December 2023. This is an approximate 74% increase from its current price. Consequently, an investment of $1,000 could potentially grow to $1,750, if the cryptocurrency analyst's prediction proves accurate.

The Volatility of Cryptocurrency Market

It is crucial to note that there is no certainty that SHIB will achieve a 74% increase by the year's end. The cryptocurrency market is highly volatile and can lead to substantial losses for investors. Therefore, comprehensive research is recommended before acquiring a position in SHIB.

Current Trading Value

At the time of reporting, SHIB was trading at $0.00000868, marking a 1.5% rise in the 24-hour daily trade. However, SHIB is still down nearly 90% from its all-time high of $0.00008616, which it achieved in October 2021.

Edited by Jonathan Stoker