The Shiba Inu (SHIB) ecosystem has grown over the past several years. The meme coin saw a 21815654.2% spike since its all-time low from four years ago. This year has been great for the asset as well, as it surged by 140%. This uptrend has pushed the community to push their bets to a much more ambitious level.
Also Read: Netflix: NFLX Eyes $43B in 2025 Revenue as Stock Overperforms
Shiba Inu’s Rise To $0.02
At press time, SHIB was trading at $0.00001769 following a 1.04% dip over the past 24 hours. It seems like the meme coin has been finding it difficult to move beyond the $0.00001800 level. This has been a major level of resistance of Shiba Inu. The asset is expected to witness a short-term spike if SHIB breaks past this level.
The Shiba Inu community seems to have moved on from the 1-cent dream towards the 2-cent milestone. The meme coin is required to surge by a staggering 112,958% in order to rise to this mark. According to data from Telegaon, the 2-cent mark isn’t all that close.
The meme coin will have to fight through several hurdles before reaching this zone. For instance, SHIB will have to glide through its all-time high of $0.00008845. The asset can surge to this high only in the year 2026. In addition, the 1-cent and the 2-cent milestone will be attained sometime between 2025 and 2040.
Also Read: GOAT: AI-Controlled Meme Coin Surpasses $800M Market Cap
Large Transactions Witness Major Spike
Whales were seen diving into the 13th largest cryptocurrency over the last day, as seen by a 540% spike in Large Holders Netflow, according to IntoTheBlock. The net flow increased overnight from -48.1 billion SHIB to 265 billion, the highest level in the previous week. Upon closer inspection, we can observe that this number is composed of 502.33 billion SHIB outflows and 767.33 billion SHIB inflows.
The meme coin seems to be on the right track in order to reach its goal. But the 2-cent mark could be longer than expected.
Also Read: PayPal Holdings (PYPL): How Will Stock Perform After Q3 Earnings?
Credit: Source link