Shiba Inu (SHIB) Rallies 42% in Just Days, Analysts Say Now Set for All-Time High

Meme coins like Shiba Inu are rapidly stealing the spotlight as Bitcoin confidently approaches the $80,000 price level.

Shiba Inu (SHIB) has continued its impressive rally, surging over 20% in the last 24 hours and reaching a five-month high.

The dog-themed meme coin reached an intraday peak of $0.00002304 on Monday, continuing a seven-day rally that has seen SHIB rise by 42%. Notably, Shiba Inu was last seen trading in the $0.000023 range in June.

Shiba Inu Rallies 42% in Just Days

Shiba Inu (SHIB) price today, November 14, 2023: SHIB price live updates, analysis, news

Shiba Inu began the week of November 7 trading at a low of $0.00001626, as highlighted by CoinEdition. Now, having broken a five-month high at $0.00002304, SHIB has staged an impressive 42% price surge over the past seven days.

This latest development continues the uptrend Shiba Inu began in the last week of September. For context, between September 23 and 30, Shiba Inu traded as low as $0.00001429 but rallied to $0.00002156 before the week ended, representing a growth of 50.87%. This rally followed a long downtrend since March, during which its value had dropped by over 70%.

Shiba Inu lost further momentum after reaching $0.00002156 and consolidated throughout October, briefly touching $0.00001553. However, in its most recent rally, Shiba Inu’s price has been soaring higher, with no signs of cooling off just yet.

SHIB Knight Predicted the Rally

Shiba Inu (SHIB) price today, November 14, 2023: SHIB price live updates, analysis, news

Interestingly, SHIB Knight, a prominent Shiba Inu community analyst, predicted the recent rally to $0.000023. In a commentary last Friday, SHIB Knight noted that Shiba Inu could see an additional 16% rise. At the time, SHIB was still trading in the $0.000019 range. Remarkably, this forecast has now come to fruition.

In a follow-up tweet on Monday, SHIB Knight acknowledged this milestone and projected that Shiba Inu is now poised for an all-time high rally. Shiba Inu’s last all-time high occurred in October 2021, when it briefly traded above $0.0000884.

"Shiba Inu is now set for an all-time high (ATH) rally. Get ready SHIBArmy. Together, let’s take $SHIB to the moon!"

Shiba Inu (SHIB) price today, November 14, 2023: SHIB price live updates, analysis, news

Meanwhile, widely followed crypto analyst Oscar Ramos has stated that Shiba Inu is headed for a $40 billion market cap, which would bring its price closer to its all-time high. From Shiba Inu’s current position, the coin would need to rally by 293% to break its all-time high.

293% until $SHIB reaches its ATH.ARE YOU REALLY MISSING THAT?? pic.twitter.com/IdfKgxA18B

It’s worth noting that in the first quarter of this year, Shiba Inu surged by nearly 400% in less than two weeks, reaching a high price not seen since 2021.

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