A top trader sees SHIB potentially reclaiming the $0.0000114 level
on the X social media platform, trader Scott Melker argues that Shiba Inu has some more room for growth. At this point, the cryptocurrency would need to add another 21.65% in order to erase another zero from its price tag. Within the SHIB community, erasing another zero is typically viewed as a major milestone for the cryptocurrency's growth and acceptance. If the Dogecoin rival manages to reclaim the midrange at $0.0000114, it will enter bullish territory.
It is worth noting that SHB is still down roughly 90.46% from its all-time high, which makes it one of the worst-performing altcoins alongside Polkadot . The meme cryptocurrency is currently valued at $4.8 billion after recording a modest 7.4% price increase over the past 24 hours. According to CoinGecko data, SHIB remains above Bitcoin Cash , the most popular Bitcoin fork, but the gap between the two cryptocurrencies remains small. in 2021, SHIB failed to stage another major rally in 2022 and 2023. This was due to a confluence of factors that included the broader cryptocurrency market downturn as well as the lack of notable ecosystem developments.
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