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2023 was an exciting year for Shiba Inu (SHIB), with multiple events sparking price hikes. The largest one was the release of the Shibarium network, four months ago. Also, SHIB burned over 76,403,022,296 tokens in 2023.
According to AMBCrypto, the worth of these burned tokens is a little over $821,000. All of these resulted in 20% growth for SHIB over the last year. Not bad, but not significant either.
That's why a lot of SHIB enthusiasts wonder whether their favorite token can reach something bigger in 2024 or if they should change their focus and funding to other meme tokens.
We'll try to help you with that in our 2024 Shiba Inu price prediction… Let's dig in.
Shiba Inu (SHIB), the famed meme coin, is poised for an eventful 2024, raising questions about its price trajectory.
Launched in 2020, SHIB quickly captured investor attention, even creating millionaires during its peak.
Despite an 88% drop from its all-time high, the crypto community remains optimistic about its potential resurgence. With a current market cap placing it as the 17th largest cryptocurrency, SHIB's future growth may be spurred by factors like the possible approval of a Bitcoin ETF.
While replicating its initial explosive growth remains uncertain, developments like the Shibarium platform, hosting DApps, could boost SHIB's demand.
Investors eye the token's lower price for potential long-term gains, speculating on significant returns if SHIB hits certain price points. However, growing competition in the meme coin sector could impact SHIB's performance.
All of this paired with the technical indicators has led investors to believe that the minimum price of SHIB in 2024 will be $$0.00000650, while the peak price is expected at $$0.00000855.
SHIB might not rally in 2024, but we prepared some new meme crypto presales expected to pump at least 25X when they hit the market.
The first on our list is also the biggest rival to the SHIB's position as the second largest meme coin – Sponge V2.
With its innovative Stake-to-Bridge system, Sponge V2 offers a seamless transition for existing Sponge V1 holders by allowing them to stake their tokens for the new version. This approach not only preserves the value of their holdings but also enhances engagement within the Sponge ecosystem.
A key feature of Sponge V2 is the introduction of a Play-to-Earn (P2E) game, diversifying its utility and appeal.
The total supply of SPONGEV2 tokens is capped at 150 billion, with a significant portion allocated to staking rewards and the P2E gaming environment.
Given the original $SPONGE's remarkable 100x growth in market cap in 2023, there's a heightened sense of anticipation surrounding the potential of SPONGEV2.
The proactive efforts by the development team to secure listings on major cryptocurrency exchanges like Binance and OKX further bolster confidence in Sponge V2's future success.
Meme Kombat ($MK) is a true crypto presale gem, showcasing the massive potential for gains in 2024. This unique project blends the excitement of meme culture with the engaging world of play-to-earn (P2E) gaming.
Harnessing the power of AI, Meme Kombat creates an immersive gaming arena where players can wager on battles between popular meme characters, adding a new dimension to crypto gaming and staking.
The project's presale success, having raised over $6 million, signals its robust appeal and market confidence.
Meme Kombat's strategic tokenomics allocate 50% of tokens to the presale, with 30% dedicated to staking and battle rewards. This thoughtful distribution ensures a sustainable ecosystem for gamers and investors.
The last one on our crypto presale gems is not a presale exactly, however, due to the immense potential it has in 2024 we must recognize the Pepe Coin.
Pepe was one of the largest gainers in 2023 with over 9,000%, and many experts believe that it could replicate it this year.
Pepe saw some price fluctuations in the last month, so no is the perfect time to buy low and wait for the highs.
As we advance in the bullish 2024, meme coins present one of the best opportunities for significant returns.
As you can see, SHIB might see some gains throughout the year, but nothing significant for everyday investors. Truly large profits lie in the presale market and some altcoins like PEPE.
Sponge V2 with its legacy of the V1 and the improved blockchain architecture remains our top choice for the 25X gainer of 2024.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
