Shiba Inu Price Prediction as SHIB Pumps 7% in 24 Hours – 2 Alternative Coins to Watch

cryptonews.com:

Shiba Inu (SHIB) is one of the most talked-about cryptocurrencies in 2023, with its price rising 7% in just 24 hours. This has made many investors curious about the future of SHIB and whether it's a good investment.

In this article, we'll look at what factors influence Shiba Inu's price and make predictions on its future value. We'll also look at two alternative coins to watch out for if you're interested in investing in cryptocurrency.

SHIBA INU (SHIB) has had a great start to the year, with its price rising over 60% this year. It recently reached an intraday high of $0.000015, cementing its position as one of 2023's top-performing coins. 

The upward surge of the SHIBA INU coin has been attributed to the positive economic climate, which instilled optimism in investors and encouraged them to invest in the crypto market. Furthermore, these macroeconomic conditions also played a significant role in the success of this digital asset.

Furthermore, the SHIBA INU (SHIB) gained further traction due to the upcoming launch of Shibarium, a layer-2 blockchain supported by Shiba Inus and built on the Ethereum mainnet. According to Cointelegraph, news of Shibarium's launch on February 14th fueled the SHIB price recovery.

Furthermore, the US central bank's reduction of the interest rate by 25 basis points also had a major impact on supporting the cryptocurrency market sentiment. Another factor that may support the cryptocurrency industry is the increasing regulation of cryptocurrencies as a digital payment method.

According to Mark Yusko, founder, and CEO of Morgan Creek Capital Management, the bull market in crypto is likely to begin sooner than anticipated due to anticipation of the BTC halving and positive macroeconomic factors.

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