Shiba Inu could grow by 350% in the near future

Editor’s note: not financial advice!

The inherent volatility of the cryptocurrency market continues to be a significant obstacle for digital assets. Unpredictable market fluctuations can disrupt the price stability of meme coins and limit the growth of their market capitalization. Finbold analysts paid attention to two major meme tokens and analyzed their behavior on the eve of the bitcoin halving BTC $75,607.80 Bitcoin -0.22% Market capitalization $1.5 trillion VOL. 24 hours $3.4 billion .

Shiba Inu (SHIB)
The current market capitalization of Shiba Inu SHIB $0.00001897 Shiba Inu -0.90% Market capitalization $11.19 billion VOL. 24 hours $0.11 billion is $ 13.56 billion. This is a marked decline from the all-time high of $ 43.51 billion in October 2021.

The further development of Shibarium, the second-tier blockchain network for SHIB, has the potential to increase transaction speeds and reduce fees. Expanded functionality combined with a specialized community of supporters could contribute to the future growth of SHIB’s market capitalization.

The progress of Shibarium and the rate of SHIB adoption are important milestones: more than 4 million blocks on the network indicate the active use and acceptance of this technology. In addition, there has been a significant increase in daily transactions, reflecting the growing utility and demand for the token.

Adding to the bullish sentiment, a reputable crypto analyst, CRYPTO SHERIFF, recently predicted a breakout for SHIB, which could lead to a 350% price increase in the near future.

Dogecoin (DOGE)
The market capitalization of Dogecoin DOGE $0.10 Department Of Government Efficiency -3.29% Market capitalization $0.1 billion VOL. 24 hours $0.74 billion is currently $ 23.2 billion, which is significantly lower than the all-time high of $ 46.14 billion reached in May 2021.

However, the association of DOGE with influential figures such as Elon Musk continues to attract interest from crypto investors. In addition, the wider use of Dogecoin as a means of payment could have a significant impact on its price and market capitalization. Similar to SHIB, DOGE’s past performance points to the possibility of reaching a $ 25 billion dollar capitalization in 2024.

Although both memecoins started with a small price drop in January, they have since shown a significant recovery. As of April 15, SHIB is up 116.55% since the beginning of the year, while DOGE is up 74.14%.

There is still a lot of time left until the end of the year, and further developments and potential market changes could lead to these meme coins continuing their positive trend.