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Popular Shiba Inu community figure $SHIB KNIGHT expresses confidence in SHIB’s prospect, speculating that the token is ready for a new all-time high (ATH).
$SHIB KNIGHT suggested that the dog-themed token is poised for a dramatic price increase that could make SHIB conquer $0.00008616 and create a new ATH.
According to SHIB KNIGHT’s projection, Shiba Inu would rally beyond its previous ATH of $0.00008845, registered on October 28, 2021. The expert did not specify an exact target for Shiba Inu. Nonetheless, they asserted that Shiba Inu is ready for a new all-time high.
Shiba Inu Soars 11.48% Since $SHIB KNIGHT Declaration
Interestingly, Shiba Inu has witnessed an incredible performance since SHIB KNIGHT made the declaration. At the time of the post, Shiba Inu was trading at $0.00001706. The dog-themed token is up 11.48% to $0.00001902 since the expert projected that Shiba Inu is ready for a new all-time high.
At the current price, SHIB is up 16.59% in the daily charts and 31.78% over the past week. Data from CoinMarketCap also indicates that SHIB’s price has rallied 38.94% in the monthly charts.
Shiba Inu Cements Its Position as 13th Biggest Token
Shiba Inu’s recent performance also positively impacted the asset’s market cap, adding over $3 billion in one day, cementing its position as the 13th-biggest crypto.
At press time, Shiba Inu boasts a market cap of $11.24 billion, surpassing Chainlink’s (LINK) valuation by more than $3 billion. For context, LINK is the 14th biggest cryptocurrency by market cap.
Experts Believe SHIB Can Hit New ATH
With Shiba Inu currently trading at $0.00001902, SHIB’s price must surge 365.09% to set a new all-time high. Recall that Shiba Inu’s recent all-time high was $0.00008616, made on October 27, 2021. Since then, Shiba Inu has not been able to break it.
Several Shiba Inu proponents believe Shiba Inu can achieve this feat in the 2024/2025 bull run, with many projecting that SHIB could surpass the $0.0001 price territory this season.
The $0.0001 projection has gained prominence within the Shiba Inu community. As reported earlier, $SHIB KNIGHT forecasted that Shiba Inu would hit the $0.0001 target this year. Additionally, other famous crypto analysts, including Eunice Wong and Javis Marks, issued similar predictions for SHIB.
These experts have remained confident in Shiba Inu’s prospects due to the positive developments happening within the SHIB ecosystem. For instance, Shibarium, Shiba Inu’s Layer-2 blockchain, recently witnessed a spike in its Total Value Locked (TVL). Notably, Shibarium’s TVL surged to $3.64 million in one week following the launch of K9 Finance’s liquid staking solution, Bonecrusher.
Bonecrusher’s launch on Shibarium also boosted the network’s daily transaction volume by 82% following its debut, with the figure currently standing at 7,060. As Shibarium transaction volume soars, the uptick could drastically reduce SHIB’s supply.
Meanwhile, there are speculations that the team is preparing to introduce “something big” for Shiba Inu in the fourth quarter of the year that could potentially drive SHIB’s adoption. These positive developments could set the stage for Shiba Inu’s rally to a new all-time high.