The cryptocurrency market witnessed a major boost today as Bitcoin (BTC) surged beyond the $100,000 mark. While certain assets followed suit, others struggled, like Ripple’s XRP. Meanwhile, the meme coin market was in for some luck. Shiba Inu (SHIB) was rising, while most assets dropped during press time.
Also Read: Bitcoin (BTC) Hits $100K: How High Can It Rise Before Christmas 2024?
Shiba Inu’s Status Quo
The past month has been extremely crucial in the Shiba Inu market. The meme coin surged by nearly 80% during this period. The asset was trading at $0.0000315 at press time following a 3.75% spike over the last 24 hours. This comes after a period of volatility. Earlier today, Shiba Inu was priced at a low of $0.00002095 and rose to a high of $0.00003296.
Trading volume is another important statistic that aids in SHIB’s positive trend. In the previous 24 hours, daily trading volume increased 40% to $4.62 billion, this further highlights investors’ urge to buy SHIB. In addition, the market cap of the meme coin rose to a high of $18.54 billion pushing SHIB to the 12th largest spot.
Also Read: Top 3 Cryptocurrencies To Watch Since Bitcoin Has Hit $100,000
December Price Prediction
The Shiba Inu community will indeed have a merry Christmas. According to data from CoinCodex, SHIB is expected to trade in the $0.00003010 to $0.00006435 range before the end of the year. The price of SHIB grew by 23.54% compared to current pricing. In other words, if SHIB performs as predicted, investors might profit by 103.15%.
On December 10, the meme coin is expected to trade at a high of $ 0.00005372. This further translates to a nearly 70% uptick from its current price level.
In addition, throughout the next couple of days, the asset is expected to record growth of over 100%. This could push the total number of SHIB investors in profit to a higher level.
Also Read: Dogecoin Turns an Investment of $1,000 Into $1.8 Million
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