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Shiba Inu’s 2024: A Year of Surprising Gains

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  • Shiba Inu’s remarkable 207.2% potential ROI projection for November 2024 signals strong bullish momentum in the short term.
  • Technical indicators show unprecedented market optimism with 100% bullish sentiment and an Extreme Greed index 80.
  • SHIB maintained impressive stability with 57% green days over the past month, securing the #12 rank in global cryptocurrencies.

As 2024 draws to an end, Shiba Inu has shown remarkable resilience and growth potential in the cryptocurrency market. Currently trading at $0.00002518, the popular meme coin’s robust technical momentum has captured the attention of investors and traders alike. Changelly’s latest blog predicts a bullish outlook for the token’s year-end performance.

Riding on the wave of Bitcoin’s recent rallies, the overall market sentiment has been decisively optimistic as evidenced by the Fear & Greed Index reaching 80. Memecoins like SHIB, too are also impacted by this bullish wave. The token’s robust 17/30 green days over the past month and 17.28% price volatility suggest a maturing asset with improving stability.

Shiba Inu
Shiba Inu's 2024: A Year of Surprising Gains 2

As per Changelly, short- and long-term moving averages are encouraging. The 50-day moving average maintains an upward trajectory, while the 200-day moving average has shown consistent strength since November 21, establishing a solid foundation for future growth.

Shiba Inu: Signs of Continued Growth

In the future, SHIB’s future projections appear promising, with analysts forecasting a potential surge to $0.0000445 by late November 2024, representing a surge of over 76.% from its current levels. The token is expected to reach within the targets of $0.0000248 to $0.0000409, by December 2024, suggesting continued upward momentum.

Shiba Inu’s current market position is 12th in the global cryptocurrency ecosystem, with a substantial circulation supply of 15.2 trillion. This strong market presence, combined with recent price appreciation of 12.61% over the past week and 4.53% monthly gains, positions Shiba Inu favorably for continued growth through the remainder of 2024.

Overall, technical analysis suggests a predicted trading range between $0.0000259 and $0.0000406 for 2024, with a potential ROI reaching 125.6%. This forecast, supported by strong market fundamentals and technical indicators, points to sustained positive momentum for SHIB as we approach year-end.

Solana’s Resilience: Bouncing Back To $100

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Solana experienced a dip below $90, but it managed to recover early this week, surging back into the $100 range on January 11. As of the current writing, SOL has seen a 7% increase in the daily index, trading at $104. The recent approval of the Bitcoin spot ETF has infused positive market sentiment, fueling hopes for a potential Solana price rally in the coming weeks.

However, Changelly’s forecast suggests a 5.08% decrease in SOL’s price, projecting a low point around January 12, 2024. Analyzing technical indicators, the token exhibits an 86% bullish market sentiment, while the Fear & Greed Index registers a score of 73, indicating a greedy market.

A look into the past 30-day trend shows that Solana has observed 15 green days out of 30 [50% success rate] with a price volatility of 16.68%. In the last 7 days, SOL has displayed a positive upward trend, posting a 3.42% increase. The strong potential shown by the leading altcoin recently presents an enticing investment opportunity.

Over the preceding month, SOL’s price has surged by an impressive 38%, adding an average of $35.8 to its current value. This rapid growth positions the coin as a robust asset, provided the upward trajectory continues.

Capitalizing on Solana’s blockchain, the meme coin Bonk [BONK] has experienced a notable 30% surge, trading at approximately $0.00001315 at the time of reporting. Bonk’s market cap reached $800 million, accompanied by a substantial 160% increase in daily trade volume over the past 24 hours.

Solana Saga Phones: Update

This surge comes after Bonk underwent substantial sell-offs, plummeting by over 70% from its all-time high on December 15, 2023. Notably, Bonk has since outperformed other meme coins like Dogecoin [DOGE], Shiba Inu [SHIB], and Pepe Coin [PEPE], which recorded gains ranging from 5% to 11%.

Solana
Solana's Resilience: Bouncing Back To $100 4

Meme coins have become integral to Solana’s transaction volume, influencing trading activities for over a month. The token’s recent rise in value coincided with another update. More than 14,000 Solana Saga phones have been activated, as reported in the latest tweet from SolanaFloor on January 11, 2024. The Solana Saga, developed in collaboration with smartphone manufacturer Osom, is described as a premium hardware experience and a flagship-quality Android device designed specifically for crypto purposes.

Ledger Saga: Another Crypto Scandal Waiting To Unravel?

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Ledger, a well-known cold wallet for cryptocurrencies, has come under scrutiny after users alleged it of withholding funds, some to the tune of $3 million USD.

Many investors have started moving money from centralized exchanges to hardware wallets since the FTX debacle. However, are those cold wallets actually secure?

One user took to Twitter to recount how one of his friends had supposedly lost money, and the situation still hadn’t been resolved.

The friend who goes by the name KAI wanted to replace USDT in Ledger with USDC. Ledger endorsed its partner firm Changelly which is one of the first exchanges listed on the cold wallet that allows users to exchange digital assets.

Although KAI never heard of it before, he reasoned that there shouldn’t be any issues as it was Ledger’s recommendation. But to be on the safe side, he first tested it out with a small amount which was successful. Later he converted the entire $3 million amount, but the money didn’t arrive.

KAI contacted customer care, who asked that he complete KYC, a request he found odd, given that Changelly had originally chosen to accept USDT without the KYC.

Even Ledger Live didn’t prompt him during the prior operation.

What made it more bizarre was that the Changelly team asked about the source of the funds, attribution of addresses, bank statements, etc. Yet, its status continued to show “received and under review” even though KAI gave all the necessary information.

He claimed this went on for a few weeks. According to KAI, if the other party is unwilling to accept, one can also send USDT back to the sending address.

Meanwhile, he emailed Ledger twice, who only said it had been forwarded to Changelly and asked him to wait.

Since November 11th, $3 million has been withheld for more than a month without reason. Was it a deliberate delay? Digging deeper KAI found out that Changelly had a poor customer track record.

Ledger’s Partner Firm Customer Ratings Were Mostly 1-Star

There are approximately 400 1-star reviews on the Trust Pilot customer review page found on the official Changelly website. Other customers have said that Changelly has also withheld or delayed the transfer of their funds due to KYC and other issues.

Numerous people on Reddit are also raising concerns about Changelly’s suspicious KYC practices. KAI is currently getting ready to contact the authorities in Hong Kong, the user claimed.