CoinDesk Reports:
The current trading price of Shiba Inu is around $0.00001661 on Wednesday, with most still in an unfavorable position. SHIB has depreciated nearly 35% in the past month and continues to bleed on charts. The last rebound occurred in March 2024, soaring 280% within a month after the Bitcoin halving event. Since then, SHIB has been in a downward spiral, with minimal price increases over the past three months.
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However, a new forecast suggests that Shiba Inu may enter a bull market, potentially surging by nearly 250%. The latest price predictions anticipate SHIB replicating its March 2024 bull run in the latter half of 2024. According to forecasts, SHIB’s price is consolidating and could skyrocket to a new annual high.
Shiba Inu: Latest Predictions Show SHIB Could Reach $0.00005, Surging 250%
Source: Unsplash
Leading cryptocurrency analyst Alikze from Trading View shared a chart indicating Shiba Inu might initiate an upward trend. He noted that SHIB is currently hovering near a “liquidity zone” and could rebound if it breaks the $0.00002 range.
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Source: TradingView/Alikze
He mentioned that if Shiba Inu breaches resistance and reaches $0.00002, the next price level could rise to $0.000026. He predicts further upwards momentum could push SHIB towards the key level of $0.00003. He forecasts that from hereon, SHIB could attract significant bullish sentiment, potentially reaching a new high of $0.00005.
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This investment return represents approximately a 250% increase from the current price of $0.00001661. If the predictions hold true, a $1,000 investment could turn into $3,500. However, there are no guarantees that Shiba Inu will grow by 250% in the latter half of 2024. Cryptocurrency markets are volatile, and macroeconomic pressures could lead to significant downturns globally.
