\n\t\t\t\t\t\t\t\t\tIs SHIB capable of exploding by almost 600% before the end of the year?\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Dogecoin\u2019s biggest rival caught the green wave passing through the entire crypto market, with one popular analyst envisioning that the rally could intensify in the remaining months of the year.<\/p>\n
While the declining amount of SHIB tokens stored on exchanges reduces sell pressure, other factors suggest that the asset is not yet out of the woods.<\/p>\n
New Peak Incoming?<\/h2>\n
Despite registering a 6% increase over the past week, the price of the second-largest meme coin remains significantly below its all-time high of $0.00008616, which was witnessed four years ago.<\/p>\n
However, some analysts remain optimistic that a fresh peak might be reached in the coming months. The X user with the moniker YourPOP predicted<\/a> a new ATH before the end of 2025, urging his almost 250,000 followers to bookmark the tweet.<\/p>\n Some on-chain metrics support the bullish thesis. According to CryptoQuant\u2019s data, SHIB\u2019s exchange netflow has been predominantly negative over the past week, indicating that investors have been transferring their holdings from centralized platforms to self-custody methods, which reduces immediate selling pressure.<\/p>\n The total amount of coins stored on such trading venues recently dropped to a multi-month low of roughly 84.3 trillion, before slightly climbing to the current 84.5 trillion.<\/p>\n As of press time, Shiba Inu (SHIB) trades at around $0.00001259, meaning it would need to skyrocket by nearly 600% to hit a new record. Many users commenting on the post expressed skepticism that such a rally could unfold before year-end, citing bearish factors such as declining activity on Shibarium.<\/p>\n The protocol\u2019s security was breached <\/a>in mid-September, and since then, daily transactions processed on it have plummeted to record lows, according to Shibariumscan. Earlier this summer, the figure stood in the millions, whereas the number of transactions over the past 24 hours is under 5,000.<\/p>\n Additionally, SHIB\u2019s Relative Strength Index (RSI) has spiked beyond 70. The technical analysis tool measures the speed and magnitude of the latest price changes to provide traders with a better perspective on whether a reversal point is approaching. Ratios above 70 suggest that the valuation has risen too rapidly in a short period, which could be a precursor to a pullback. Conversely, anything below 30 is considered a buying opportunity.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n<\/a>
How Realistic is That Goal?<\/h2>\n
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