Analyst Sets Bullish Shiba Inu Price Prediction for 2024, New Meme Coin Also Backed to Surge

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Meme coins have been back in the news recently, with Shiba Inu (SHIB) further cementing its place as the world’s second-largest meme token.

As we head into 2024, some analysts predict that SHIB could experience significant growth due to increased utility and adoption.

While SHIB’s outlook is positive, a new meme coin called Meme Kombat (MK) is also gaining attention and being touted to surge alongside SHIB.

Shibarium Launch Powers SHIB Resurgence in 2023

Shiba Inu entered 2023 with poor momentum after trending downwards throughout most of 2022.

However, SHIB holders remained focused on the long-awaited launch of Shibarium – a layer 2 scaling solution built on Ethereum.

After months of anticipation, Shibarium was unveiled in August during the Blockchain Futurists Conference in Toronto.

The launch of Shibarium transformed Shiba Inu from just a meme coin into a serious ecosystem for NFTs, gaming, and metaverse applications.

Since going live, Shibarium has seen extensive adoption and now handles over 7.8 million daily transactions.

More than 1.3 million unique wallet addresses are also connected to the network.

The performance improvements brought about by Shibarium have also led to lower fees and faster transactions for all Shiba Inu dApps.

These developments have contributed to a 60% increase in SHIB’s price since October’s low.

Although SHIB is still trading 88% below its all-time high, there’s growing belief in the investment community that 2024 could be a successful year for the token.

2024 Shiba Inu Price Predictions Buoyed by Potential Spot BTC ETF Approval

While Shiba Inu still faces uncertainty regarding the long-term impact of Shibarium, some analysts have made optimistic predictions about where SHIB’s price could be headed in 2024.

In a recent video, analyst Austin Hilton gave a conservative price target of $0.0000417 for January 2024 based on current market conditions.

However, Hilton believes this forecast will be too low if a spot BTC ETF is finally approved in the US by January 10.

Hilton explains that ETF approval will likely result in substantial institutional and retail capital flowing into the crypto space.

As a top 50 crypto asset, SHIB would benefit from this influx of money.

Under this scenario, Hilton believes that SHIB could soar higher than $0.0000417 by the end of January.

On the other hand, if no significant developments around spot ETF approval occur, then his more conservative target would be reasonable.

While SHIB’s price remains volatile, Hilton makes a case for solid gains next year if crypto adoption accelerates.

New Meme Coin Meme Kombat Brings Gaming Innovation & Raises $5.2m in Presale

While Hilton believes the future looks bright for established meme coins like Shiba Inu in 2024, there are also opportunities for newer entrants to the space.

One such project generating buzz is Meme Kombat (MK), an Ethereum-based meme coin that combines elements of competitive gaming and crypto betting.

Having begun its presale earlier in the year, Meme Kombat takes a unique approach by allowing users to bet on virtual battles between popular internet memes, with winners earning more MK tokens.

With strong tokenomics, including a 50% presale allocation and 30% for gaming/staking rewards, Meme Kombat is already attracting enormous attention from the trading community.

The project offers attractive 178% APY staking rewards for early adopters, helping it raise more than $5.2 million in funding so far.

Importantly, Meme Kombat has a transparent team led by founder Matt Whiteman, who has extensive experience in the crypto and Web3 sectors.

These elements have helped Meme Kombat form a vast online following, even before the platform is officially launched and the MK token is listed on Uniswap.

As the meme coin market continues to attract attention, projects like Meme Kombat offer fresh ways for investors to engage with the space.

Ultimately, its strong team, appealing tokenomics, and unique gaming element position Meme Kombat as a potential standout that could surge alongside SHIB in 2024.

Those interested in the presale can buy MK tokens for $0.268 during the current stage.