Shiba Inu (SHIB), the second-largest meme coin, had a dull weekend. The asset witnessed a massive dip, but it did much better than last week. In the previous seven days, SHIB dropped to a low of $0.00001621 following a 3.76% dip. At press time, the meme coin was trading at $0.000018 with a slight spike of 1.77% over the past 24 hours.
Factors Influencing Shiba Inu’s Price And Future Predictions
But the community was hopeful as whales made some noise in the SHIB market. According to data from Coinglass, the Spot netflow of SHIB revealed that the network witnessed seven days of outflows. This is bullish for the asset and its price since it shows that the previous data of huge transactions may represent whales hoarding SHIB tokens.
Whale Activity And Its Impact
The real question is whether this is enough for the meme coin to reach its much-awaited milestone of 1 cent. To hit this mark, the asset has to surge 55,734.73% from its current price level.
Predictions For Shiba Inu’s Price In Q4 2024
Data from Changelly revealed that Shiba Inu can’t reach the 1-cent mark this year. In fact, SHIB won’t be attaining this peak anytime soon. According to Changelly, the meme coin will rise to this high only in 2040.
Furthermore, it should be noted that Q4 of every year is considered to be extremely bullish for the cryptocurrency market. As a result, the SHIB community has been waiting to witness a massive spike in its price over the next couple of weeks.
Changelly, however, noted that the maximum price that the asset would trade at was $0.0000377. SHIB is expected to reach this high in October itself.
