Shiba Inu Prepares for New Price Surge, $SHIB Rises 212% in One Year

According to Austin Hilton, the second largest meme currency, Shiba Inu (SHIB), with a market capitalization of $15 billion, may soon see a sharp price increase. Web3 influencers say that the adoption of $SHIB is increasing and the further development potential of the Shiba Inu ecosystem will be the main driving force for the price in the coming months. In recent years, the Shiba Inu token based on Ethereum has escaped the reputation of being a meme coin with a series of new developments for both its software and ecosystem. Including security features, an exclusive Layer 2 called Shibarium to improve transaction costs and efficiency, and a decentralized exchange (DEX) for token swapping, liquidity, and staking within the ecosystem. These developments have helped $SHIB increase by 212% in one year. Hilton said this growth is far from over. He pointed out the expansion of ShibaSwap, along with token burning to reduce the current massive supply and the adoption of mainstream businesses for payments. Will $SHIB Continue to Grow? Hilton's prediction comes as the entire cryptocurrency market seems to be performing very well. Bitcoin ($BTC) has reached a new all-time high since Donald Trump's re-election at the beginning of this month, a leader has promised to be more transparent about regulations and support for this industry. At current prices, this oldest cryptocurrency is about $2,500 away from $100,000, an event that psychologically can play out in both directions. Optimists anticipating the price level may rally retailers to rush in and push prices even higher, while the more skeptical view suggests that $BTC holders may want to take profits a bit to cause a drop and buyback. As we can see on the Shiba chart, this meme coin has followed the market's pace at the beginning of November, reaching a peak of 0.00002949 dollars on November 12. The coin has maintained this increase, but still remains 70.5% below the all-time high (ATH) of 0.00008616 dollars, posted on October 28, 2021.

However, Shiba is ready for another price increase. The token's 30-day moving average has converged with its price, while its relative strength index has remained between 30 and 70 for most of the month so far. This helps holders prepare well for a meme season.