The past 24 hours have been electrifying for the memecoin market, with meme tokens outpacing major cryptocurrencies in gains. Shiba Inu (SHIB) has taken center stage, maintaining its 20th position in market cap rankings while experiencing a 21% surge in trading volume, now totaling $206 million. As SHIB trades at $0.00001818, market analysts are buzzing about the possibility of a 400% rally, echoing patterns observed in previous bull cycles.
Are Memecoins Signaling The End Of The Market Cycle?
Historically, memecoins like SHIB tend to outperform Bitcoin (BTC) as a bull run nears exhaustion. Traders often lock in profits from BTC and redistribute them into high-cap memecoins, chasing higher returns with relatively lower risk. This strategy aligns with previous market patterns, such as the September rally, where SHIB gained over 20% in a single day, and trading volume peaked at a staggering $13 trillion.
The latest surge in SHIB’s volume suggests that investor interest is heating up once again, sparking speculation that the token might break past $0.000020.
Why the Market Needs a Trigger for SHIB to Explode
Despite the promising uptick in volume, SHIB has yet to attract significant new traders. The Relative Strength Index (RSI) remains in neutral territory, indicating a lack of clear momentum. Additionally, growing skepticism about Bitcoin’s sustainability at its recent $67K peak has some traders on edge, leading to profit-taking and market jitters.
For SHIB to ignite a significant rally, it needs two crucial factors:
- Bitcoin’s Cooldown: If BTC experiences a pullback and trading volume declines, investors could shift profits toward memecoins like SHIB. This scenario mirrors previous cycles, where market euphoria around Bitcoin gave way to a memecoin boom.
- MACD Bullish Crossover: A bullish crossover on the Moving Average Convergence Divergence (MACD) indicator could signal the perfect storm for SHIB to rally. Analysts suggest that if Bitcoin’s trading volume drops by 20% or more, it could mark the beginning of SHIB’s breakout.
Also Read: Ripple vs. SEC – 3-Year Legal Battle Heats Up As XRP Faces 25% Drop Amid Appeal Uncertainty
Will SHIB Break $0.000020 Before the Cycle Ends?
A potential 400% rally could be on the horizon, provided SHIB gathers momentum from a BTC cooldown. As Bitcoin’s trading volume dipped by 20% in the last 24 hours, this might just be SHIB’s moment to shine. If the MACD flips bullish and buyers view the current price as a “buy-the-dip” opportunity, SHIB could surge past $0.000020 before the end of this market cycle.
With memecoins dominating the gainers’ charts, all eyes are now on SHIB to see if it can replicate its past explosive performance. Traders will be closely monitoring Bitcoin’s next move—any sign of cooling could be the spark SHIB needs to skyrocket.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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