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Here’s How High Shiba Inu Must Rise to Take 9th Place and Become Top Memecoin
Shiba Inu enthusiasts are eager to see their favorite meme coin reclaim its former glory. To achieve this, SHIB must rise significantly in the near future. As a result, we will delve into how high Shiba Inu must rise to take the 9th position and become the top memecoin.
Currently, Dogecoin holds the 9th spot with a market capitalization of $24.2 billion. To surpass DOGE, SHIB would need to increase its valuation by $17.67 billion ($6.66 billion current valuation). This could be achieved through a combination of increased adoption and growing mainstream recognition.
Shiba Inu’s historical performance suggests that it can indeed reach such heights. Assuming its circulating supply remains constant at 589.24 trillion, the meme coin would need to rally to $0.0000412 to surpass Dogecoin. This is not an impossible feat for SHIB, as it has previously touched this level in March 2024 when it rallied to a peak of $0.0000456.
While these predictions may seem speculative, traders are optimistic about the meme coin’s potential to reclaim its former glory. For instance, Trader Mike highlighted a historically bullish pattern that could propel SHIB to $0.00004 next. Another expert suggested a move to $0.0000480 and as high as $0.0000707.
It is essential to note that the cryptocurrency market can be inherently volatile, and Shiba Inu’s performance may differ from these predictions. Nevertheless, enthusiasts remain hopeful that their favorite memecoin will soon reclaim its former heights.
Source: thecryptobasic.com
