Shiba Inu Coin Price Prediction: Analysts Claim Shiba Inu Coin Price Could Reach 1$ by February 2025 While Whales Eye PlutoChain – Shiba Inu News Today
January 2nd, 2025 at 4:16 pm UTC · 4 mins read
/PlutoChain/ – The hype around Shiba Inu (SHIB) has been hard to ignore, with some new upgrades to its network bringing new hope to investors.
The question on every investor’s mind is clear – can SHIB realistically reach the $1 mark?
We’ll break down the factors driving these predictions, analyze the roadblocks, and explore whether SHIB can truly defy the odds to hit the milestone by February 2025.
Also, we’ll also take a look at PlutoChain ($PLUTO), a new hybrid Layer-2 solution that could end up being the missing link that Bitcoin needed to upgrade its network. The PlutoChain presale is creating a buzz, with over 2 million tokens already sold.
Let’s check out the deets.
Technical Insights into Shiba Inu’s Market Trends – Can SHIB Achieve $1 in 2025?
As of December 27, 2024, Shiba Inu (SHIB) is trading at approximately $0.00002177. Over the past month, SHIB has experienced a decline of about 22%.
However, this movement is in line with broader market trends, so there’s no isolated bearish sentiment toward SHIB.
SHIB’s Relative Strength Index (RSI) currently hovers near 58. While not yet overbought, it indicates a potential for upward movement if buying pressure increases.
The Average Directional Index (ADX) at 40 reflects a strengthening trend, which, combined with consistent volume levels, hints at possible accumulation.
The 50-day moving average ($0.00002150) is just below current prices, acting as a soft support level. Meanwhile, the 200-day moving average ($0.00002300) serves as a potential resistance. A breakout above this level could confirm a bullish reversal.
SHIB faces resistance at $0.00002420, with a major support zone around $0.00002000. Traders watching these levels closely could see volatility as SHIB attempts to break through or test its lower limits.
The Shiba Inu ecosystem continues to expand, which also gives reasons for optimism. Shibarium, its Layer-2 scaling solution, has shown promise with increasing adoption, offering faster transactions and lower fees.
This development increases SHIB’s usability for decentralized applications (dApps), which could attract new investors and developers.
Additionally, recent partnerships with payment processors and potential integrations into retail platforms could help it push further.
Javon Marks, a popular analyst on Twitter, says that Shiba Inu is displaying major strength and could push toward another rally above 100% relatively soon.
Can PlutoChain Revolutionize Bitcoin by Bringing dApps and Smart Contract Capabilities?
PlutoChain ($PLUTO) is a Layer-2 solution that could take Bitcoin beyond its usual role as a store of value. It wants to bring smart contracts and decentralized apps (dApps) to the Bitcoin blockchain.
For years, Bitcoin’s slow 10-minute block time has made it hard to support more advanced features. Blockchains like Ethereum, Solana, and Cardano have stepped in to offer faster speeds and better tools for developers.
PlutoChain could change that. With a block time of just two seconds, it could allow developers to use Bitcoin’s secure network for smart contracts and dApps. This could open the door to more advanced uses for Bitcoin.
PlutoChain offers solutions to potentially improve Bitcoin’s speed, security, and developer options. On its testnet, it has handled up to 43,200 transactions per day, showing it might be ready for real-world use.
The project also gives its community a voice. From the start, users have been able to vote on updates and help shape how the network grows.
Security is another big focus. PlutoChain has been checked by top auditing companies like SolidProof, QuillAudits, and Assure DeFi, which helps build trust.
It’s also compatible with the Ethereum Virtual Machine (EVM), which means apps built for Ethereum could move to Bitcoin easily. This may combine Bitcoin’s strong security with Ethereum’s flexibility, making room for DeFi, NFTs, and even AI projects.
By potentially fixing Bitcoin’s usual limits, PlutoChain could change how people see it. Instead of just being a store of value, Bitcoin might become a platform for new types of apps and tools.
The Verdict
Even though Shiba Inu saw some major network improvements and new partnerships in 2024, it still has a long way to go to reach $1.
At the same time, we have robust new projects like PlutoChain ($PLUTO) that could upgrade BTC’s network with a Layer-2 approach.
PlutoChain is preparing for its potential mainnet launch in the next couple of weeks and it might be worth keeping an eye on it to see how things develop.
Please keep in mind that this article is not financial advice. All crypto tokens are volatile, and trading involves risk. Always do your own research and consult a qualified expert before joining any crypto venture. Mention of any tokens in this article does not guarantee future performance. Statements regarding the future carry risks and are not assured to be updated.
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