Shiba Inu Increases 15% Every Day Amid Predictions of SHIB's All-Time High

The second largest meme currency has been quite sluggish in recent weeks, but it broke out today and reached a new high of over $0.000033 for many months. As a result, this currency quickly returned to the top 10 altcoins by market capitalization, but a subsequent correction pushed it down to 11th place after Avalanche.

Shiba Inu, along with the rest of the cryptocurrency market, has significantly benefited from Donald Trump's resounding victory in the US presidential election in November. Its price was below $0.000017 at that time but quickly surged to over $0.00003. However, it has slipped in the following weeks down to as low as $0.000025, the price from November 12 until today. In a somewhat surprising move over the weekend, the second largest meme coin surged over 22% and surpassed the $0.000033 mark for the first time since March this year. Although it has decreased slightly, it is still trading above 0.00003 dollars and the 24-hour increase is 15%. This price increase occurs against the backdrop of SHIB's weekly burning rate increasing significantly, according to Shibburn.

The Shiba Inu community quickly embraced and celebrated this move, with many predicting even more impressive growth in the future. Some somewhat exaggerated forecasts imagine a further 10,000% increase for this token, making it the largest token in the cryptocurrency market. SHIB_KNIGHT is more modest but still predicts a new record high for SHIB after today's rally. However, it should be noted that this meme coin is still 64% away from the peak reached more than three years ago. Its price almost needs to triple from current levels to surpass the $0.000086 level reached on October 28, 2021 (CoinGecko data).