Shiba Inu price can rise 300% according to well-known crypto analyst

The Shiba Inu price was green again for the first time yesterday after suffering significant losses for several days. The recent rise makes Shiba Inu one of the best performing cryptos in the top 20 and well-known crypto analyst Ali Martinez expects that the SHIB price can rise by as much as 300% in the short term.

Despite a strong start to this year, Shiba Inu have had a difficult time recently. The SHIB price has already fallen 10.90% this week, making it now worth 15.99% less than a month ago. With a current value of $0.00002294, the Shiba Inu coin has fallen more than 36% since its recent peak of $0.00003592 in March.

Well-known crypto analyst predicts 300% increase – why is Shiba Inu rising?

#ShibaInu appears to be forming a bull flag on the daily chart! I’m placing buy orders around $0.000018343, aiming for a bullish breakout that sends $SHIB to $0.000072323.

So, if you want to join me in this trade, head to @coinexcom and sign up using my referral link… pic.twitter.com/er1gE0lozV

— Ali (@ali_charts) May 1, 2024

However, there remains some optimism within the SHIB market and crypto expert Ali Martinez reinforces this once again with his recent positive Shiba Inu coin price forecast. Martinez expects that SHIB could rise towards $0.000072323 in the near future. That would guarantee an increase of no less than 300%.

The main reason for this possible SHIB rally is the burning program and the developments within the Shibarium Layer-2 protocol.

According to CryptoPotato, the burn rate peaked at 90% on May 1. In April, more than 1.7 billion SHIB tokens were already removed. The purpose of this mechanism is to reduce the huge supply of Shiba Inu tokens, so that the token can become more valuable over the longer term.

At the same time, the Shibarium platform continues to develop. The Layer-2 solution underwent a major update last week that should lead to an improved user experience, faster processing times and much more.

With further developments within the Shibarium network on the horizon, and the continued burn mechanisms reducing SHIB inventory, the future of SHIB appears to be bright. However, there are several alternative meme coins that can achieve greater profits in the short term. Below we discuss the best 2 options at the moment.

Dogeverse (DOGEVERSE) – new innovative alternative to Dogecoin

Dogeverse is a recently launched meme coin that is developing an innovative alternative to the largest meme coin of the world. Over time, several alternatives to the popular Dogecoin have appeared on the market, but none of these alternatives managed to bring Dogecoin to multiple blockchains.

This has now happened with the introduction of Dogeverse. The native DOGEVERSE token will be developed for multiple blockchains and thus forms a multi-chain alternative to the well-known crypto Dogecoin. For this reason, the token will be developed for the Solana, Ethereum, Polygon, BNB, Base and Avalanche blockchains, among others.

Users will be able to take advantage of the best benefits and features of these blockchains. In addition, they will also be able to stake the native DOGEVERSE for attractive rewards. There is currently even an APY of 84%.

The Dogever presale has already raised more than $13.2 million and once again confirms how popular this crypto is among investors. Tokens currently cost $0.000305 each, but will continue to increase in price as the presale enters its next phase.

WienerAI (WAI) – viral meme coin combines worlds of AI crypto and meme coins

WienerAI is a new meme coin that wants to turn the worlds of meme coins and AI crypto upside down. The WienerAI mascot is a ‘wiener’ dog that is influenced by AI. In this way it brings together the worlds of AI crypto and meme coins.

The backstory of WienerAI takes place in the year 2132. In this year, a scientist was developing the ultimate AI companion. Due to a mistake, he accidentally mixed the DNA of a hot dog into his creation and this created the hilarious WienerAI project.

How it feels to Stake $ WATER. pic.twitter.com/IpkkxWHh8J

— WienerAI (@WienerDogAI) May 1, 2024

Users can realize passive income on the WienerAI by staking the native WAI token. There is currently an APY of no less than 1,023%. Although this percentage will decrease as more tokens are secured, it does mean that early investors can already realize significant profits.

WAI’s presale has already raised $900,000. Tokens currently cost $0.000703 each and can be purchased via ETH, USDT, BNB and credit card.

Disclaimer: This article contains insights from independent authors and is not part of the editorial content of BitcoinMagazine.nl. This is not investment advice, please do your own research.