How Much Can Shiba Inu Grow by December 2024?

The Shiba Inu (SHIB) ecosystem has experienced many ups and downs this month. Luckily, the market has witnessed several upswings and downturns. The asset has surged more than 40% in the past 30 days. After a slight slowdown for a week, the meme coin has been seen recovering once again. But can the second largest meme coin continue this upward trend and reach new highs in December 2024? Shiba Inu has been trending upwards in the past day. The asset has risen nearly 4% in the last 24 hours. At the time of reporting, SHIB is trading at $0.0000254. Earlier this month, the meme coin surged to a high of $0.00003031.

Currently, this asset is still down 71% from its all-time high of $0.00008845. This peak was reached about three years ago in 2021. Despite this difference, the community remains optimistic that SHIB will rise to a much higher price. For example, an analyst named Charting Guy predicts that the price will soar to $0.00022. This marks an 800% increase from the current value. He even asks his followers, "Have you packed enough luggage for something like this yet?" Will investors in Shiba Inu have a Merry Christmas? According to data from CoinCodex, the meme coin is expected to experience a slight retreat. Shiba Inu is expected to trade in the range of $0.00002493 to $0.00002567 by the end of the year. The price of SHIB has decreased by -1.13% compared to the current price. If SHIB performs as predicted, short sellers could earn 2.42%. However, November is expected to bring even greater profits for SHIB investors. According to the company, this asset will rise to a high of $0.00005377 before the start of December.

It should be noted that a number of other factors such as market sentiment, incremental changes in regulations, and other macroeconomic events can change the course of the asset. SHIB could see a spike or major drop based on these aspects in the coming month.