Shiba Inu (SHIB) Price Prediction: Can SHIB Reach New Heights by Claiming a $50B Daily Volume?

Shiba Inu (SHIB) often surprises the market with its rapid price movements. Its most historic run came up during the 2020/2021 bull run

Shiba Inu (SHIB) has the potential to reach new heights if it claims a $50 billion daily volume and most of this volume lean toward the buy side.

Shiba Inu (SHIB) often surprises the market with its rapid price movements. Its most historic run came up during the 2020/2021 bull run, when it turned $12 to $1 million.

Though SHIB has dropped from the $0.00008845 all-time high it attained at the time, experts believe it can recover this price level. For this to occur, Shiba Inu would need to attract immense demand, which would lead to a surge in trading volume.

Shiba Inu Price at a $50B Volume

Trading volume alone doesn’t guarantee price growth. If the volume includes a major portion of selling activity, the price impact could be neutral or even negative. Market sentiment would need to be bullish for a $50 billion volume to translate into significant price gains.

For instance, from Nov. 5 to 16, most SHIB trading volume represented buy activity, leading to the recent price growth. IntoTheBlock shows that on Nov. 16 alone, large players purchased 4.72 trillion SHIB, while bears sold 4.52 trillion tokens. This translated to an excess demand of 201 billion SHIB.

Historically, Shiba Inu has shown a strong correlation between trading volume and price surges. During its October 2021 rally, trading volume crossed $30 billion, driving its price to the ATH of $0.000088. CoinMarketCap data confirms SHIB had a volume of $39 billion on Oct. 27 and $32.8 billion on Oct. 28, 2021.

Following this period of heightened market interest, Shiba Inu saw declining trading volumes as prices dropped. Notably, SHIB’s 24-hour volume has ranged from $200 million to $500 million since then.

If trading activity reaches $50 billion, the price could revisit or even exceed these levels. Analysts believe a daily volume of this magnitude could push SHIB to resistance levels around $0.00005 or higher, with optimistic projections targeting $0.00015 in the right market conditions.

Can Shiba Inu Reach a $50B Volume?

Interestingly, the trend of surging volume leading to price surges repeated this year, with Shiba Inu’s trading volume rising to a high of $8.96 billion in early March 2024, as the meme coin surpassed the $0.00003 level. With SHIB claiming a yearly peak of $0.000045 on March 5, volume spiked to $16 billion that day.

However, while the $50 billion volume could result in massive demand for SHIB, attaining this level of interest could be challenging. Shiba Inu’s volume currently sits at $1.18 billion. This figure would need to spike 4,137% to reach the $50 billion mark.

Should this occur, market movements would be pivotal in determining the impact of such high trading volume. Rising liquidity would likely attract institutional and retail investors, creating more buying pressure. At the same time, Shiba Inu’s token burn initiatives could magnify this effect.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.