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Shiba Inu might soar to its all-time high by November, according to crypto analyst Javon Marks. With bullish trends emerging and increased activity on the Shibarium network, a potential 350% price surge could be on the horizon for the popular meme coin.
Analyst Predicts 350% Surge for Shiba Inu by November
The Shiba Inu price has an all-time high (ATH) of $0.00008, and crypto expert Javon Marks has predicted when it will hit that level. This occurred just as the analyst had projected that the meme coin's value would increase by more than 350%.
In an X post, Marks indicated that November is a possible month for the Shiba Inu price to hit its current all-time high. A new wave of "immense bullishness" might be on the horizon, according to the analyst, who also noted that the Shiba Inu is still holding its breakout.
Furthermore, he mentioned that bigger breakouts still point to $0.000081 as a potential target, which could lead to a price increase of more than 351% and bring the top meme currency to this level of value, possibly with a "significant speed."
Historical November Trends for Shiba Inu
November was predicted to be the month for this enormous rally in the following chart. November has never been kind to the second-largest meme coin by market size, so it will be fascinating to watch whether the price of SHIB surges by more than 350% that month.
According to Cryptorank data, SHIB had a monthly loss of 29.6% in 2021 and 24.8% in 2022. At the same time, in November 2023, its price only went up by 6%.
For that reason, it would be unprecedented for prices to surge to their present all-time high in November.
Other Experts Share Optimism
Also, it's worth noting that Oscar Ramos, an expert in the field, is optimistic about the future of Shiba Inus. If the expert's prediction of a 100% price explosion comes true, the meme coin may be able to retest its current all-time high, Coingape shares.
Election Could Influence Crypto Markets
The Shiba Inu price may rise next month if the cryptocurrency market continues its optimistic trend. The presidential election is scheduled for November 5, and the market certainty that will follow will be good for cryptocurrencies.
Also, if pro-crypto candidate Donald Trump wins the election, crypto prices might rise.
Shibarium Network Upgrades Boost Prospects
Additionally, the team's efforts have a positive impact on Shiba Inu's viewpoint, which could lead to an increase in the adoption of SHIB. The Shiboshi NFT collection on the Shibarium network has just announced a strategic upgrade from the team.
This change has the potential to boost the number of daily transactions on the Shibarium network, which would have a beneficial effect on the Shiba Inu pricing.
In the long run, the value of Shibarium, a meme coin, rises as the number of daily transactions increases and more SHIB burns are generated.
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