Shiba Inu (SHIB) reached its peak on Oct. 28, 2024. Since its 2021 highs, the dog-themed cryptocurrency’s price has fallen by over 74%. Despite its downtrend, the asset’s 2021 rally has solidified its status as a millionaire-maker. SHIB fans and investors continue to pursue higher prices and adoption.

Cryptocurrency advisor ‘Coach K Crypto’ says that we are around the same time of the year when SHIB began its explosive rally. The analyst took to X and stated that another bull run is ‘coming soon.’

Also Read: Shiba Inu: You Could Have Made $1 Billion With Just $6,200

Shiba Inu ($SHIB) launched July 31st in 2020.@Shibtoken went up then simmered down for a few months before ripping from September to April or so.
We’re at the exact timing, summer before the real BULL!
Touch Grass, spend time with loved ones.


— Coach K Crypto (@Coachkcrypto) June 11, 2024

Also Read: Shiba Inu: Forbes 40-Under-40 Nominee Predicts SHIB to $0.0002

Investors who purchased SHIB in its early days made massive gains. The asset instantly became popular among young investors who wanted to make it big in crypto. Nonetheless, SHIB’s price has found it hard to reclaim its 2021 high of $0.00008616.

Will Shiba Inu (SHIB) hit a new all-time high in 2024?

Source: Twitter

Several factors took SHIB’s price to the moon in 2021. Firstly, market sentiment was high and other assets were also rallying. Secondly, Ethereum co-founder Vitalik Buterin burnt a large number of SHIB tokens, further pushing the cryptocurrency’s price. Buterin had received half the project’s supply upon launch, but the Ethereum co-founder decided to destroy 90% of the tokens he received.

Shiba Inu (SHIB) may hit a new all-time high this year. However, a 2021-like market environment is needed for the asset to do so. The larger market has to rally and SHIB’s adoption needs to increase.

Also Read: Shiba Inu: How To Be A Millionaire If SHIB Reclaims All-Time High?

CoinCodex predicts SHIB to reclaim the $0.00007 level in July 2024. If SHIB hits $0.00007, it could very well surge to a new all-time high.

Source: CoinCodex


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