Could the Rise of Shiba Inu Create Millionaires in 2024? SHIB Price Assessment

Shiba Inu has experienced a 14% increase in the last 24 hours, with the SHIB price rising to $0.00001958 on a day when the overall market has only gained 1%.

Currently, SHIB has risen by 35% over the week and by 39% in the past month, while also boasting a substantial 170% increase over the past year.

This positions it as one of the top-performing major meme tokens in the market this year, with its recent gains coinciding with a surge in its burn rate.

With over 400 trillion SHIB tokens burned to date (and continuing), the relative decrease in the coin’s supply is expected to contribute to its price appreciation over time.

Can Shiba Inu’s Surge Make Millionaires in 2024? SHIB Price Analysis

Data from Shibburn indicates that Shiba Inu’s burn rate has surged by an impressive 33,818% in the last 24 hours.

This increase is partially attributed to the rising usage of Shibarium, with daily transactions more than doubling over the past week.

Consequently, the uptick in burning has fostered a sense of bullish sentiment, with significant burns drawing considerable attention today.

BREAKING: Someone just burned 1.8 Billion $SHIB!
If you own Shiba Inu let all crypto know pic.twitter.com/IalEb0CtdJ

— Oscar Ramos (@realOscarRamos1) September 26, 2024

This enthusiasm has evidently influenced the SHIB price, with the coin’s chart reflecting significant momentum today.

For example, its relative strength index (purple) has remained above 70 and is approaching 80 for more than a day now.

Additionally, its 30-period moving average (orange) is continuing to rise above the 200-period average (blue), suggesting that SHIB has entered a new expansionary phase.

Source: TradingView

Notably, SHIB’s trading volume has surged in recent days, surpassing $2 billion today.

This increase could be seen as overdue, given that SHIB has underperformed for a significant portion of 2024.

This indicates that the coin has considerable ground to cover and may continue to rise steadily as the year concludes.

The SHIB price could reach $0.000020 over the weekend and potentially $0.000030 by the end of November.

New Meme Tokens with Fundamentals

While SHIB appears to be gaining traction, there is always a risk associated with heavily bought tokens that they may experience a correction.

Nonetheless, there are alternative options that currently look promising, with presale coins being a potentially profitable avenue for traders.

One of the most intriguing presale coins available now is Memebet Token (MEMEBET), an Ethereum-based cryptocurrency that has raised $300,000 since launching its offering a couple of weeks ago.

Memebet is appealing because its token will function as the utility coin for its own online crypto-friendly casino, which will be launched once the presale concludes.

The platform will feature over 1,000 crypto-native games, including virtual slots and table games, as well as a comprehensive sportsbook.

Users will have the option to place bets using the native MEMEBET token, along with established coins such as Pepe, Dogecoin, Bonk, and Shiba Inu.

Engaging with MEMEBET positions users for additional play-to-earn rewards, with 20% of the coin’s total supply of 2 billion MEMEBET reserved for payouts.

Memebet will also provide a KYC-free Telegram casino, making it a highly accessible platform for gamers globally.

Interested investors can participate in its sale now by visiting the official Memebet Token website and connecting their software wallets.

1 MEMEBET is currently priced at $0.0254, with this price increasing by $0.001 with each new stage of the sale.

Check Out MEMEBET Here

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