SHIB peaked at $0.0000147 on Wednesday, while BTC reached a height near $64,000. From its 2023 low of $0.0000059, the price of Shiba Inu Coin has increased by an astounding 135%, trading at $0.000014 on Thursday during US business hours.
Shiba Inu Price Prediction
The second-most popular meme coin, Shiba Inu Coin, has been rising this week along with Bitcoin. SHIB peaked at $0.0000147 on Wednesday, while BTC reached a height near $64,000.
From its 2023 low of $0.0000059, the price of Shiba Inu Coin has increased by an astounding 135%, trading at $0.000014 on Thursday during US business hours.
Shiba Inu Coin is expected to close the day above $0.000014, which is currently the immediate resistance, according to intraday dealers. If this level of support holds, more investors will be forced to purchase in anticipation of future price hikes to $0.00002.
- According to one bullish projection, SHIB may increase by more than 800% and hit a new all-time high of $0.0001206.
- According to a fresh projection, Shiba Inu will reach a peak of $0.0000571 in 2024.
- As of right now, the token is expected to trade around $0.000011.
In light of these price projections, SHIB is currently trading at $0.000013994 as of Thursday morning. That is a rise of 26.3% from the previous day.
Shiba Inu Price Prediction 2024, 2025, 2030
Last week, Shiba Inu was priced at $0.0000095 at the same time. It is now at $0.000013, having moved 43.98% during the last week. In reality, SHIB has pumped by 27.04% in the last day.
A modicum of optimism permeates the cryptocurrency industry. Nonetheless, the long-term outlook is still positive, and SHIB may reach $0.000021 in 2025.
As of the time this article was written, there was $589280666974348.88 in total Shiba Inus in circulation, and SHIB’s market capitalization is still $8,169,937,888.Â
Our short-term analysis indicates that the average price of Shiba Inu for April 2024 will be 0.000016; the greatest price that may be achieved would be $0.000018.
Furthermore, our long-term analysis indicates that the average price of Shiba Inu in August 2024 will be 0.000018; the greatest price that can be achieved in August 2024 will be $0.000019.
Levels to Watch As Shiba Inu Coin Price Picks Up The Pace
Shiba Inu Coin is still optimistic even after the burn rate went from 100% to 0%. The circulating supply of 581 trillion tokens has not been burned in the past day, according to the Shib burn website.Â
On the daily chart, we can see that once SHIB broke over the resistance of the descending trend line, the path of least resistance turned upward.Â
With 410 trillion SHIB being taken out of circulation thus far, the token burn stands out as one of the most intricate in the cryptocurrency space.Â
Shiba Inu is still one of the projects with the biggest token supply, which is said to be preventing it from rising to all-time highs and higher, despite this remarkable accomplishment.
Even if the token was bullish before this breakout, SHIB consolidation between support indicated by the 200-day Exponential Moving Average (EMA) at $0.0000092 was first prevented by congestion at $0.00001.
SHIB’s 2024 Roadmap
Throughout the year, the trading volume followed the changes in prices, showing that strong market involvement supported these price changes by declining during bearish dominance and rising during bullish rallies.
Three major times this year, the Awesome Oscillator (AO) increased over the zero line: once at the beginning of the year, once for a short while in April, and during a noteworthy spike toward the end of November. These changes indicated brief positive market recoveries.
But starting in the second week of January, the AO’s bullish momentum started to decline, and now it stands at 0.00000068, suggesting a change in the dynamics of the market.
But starting in the second week of January, the AO’s bullish momentum started to decline, and now it stands at 0.00000068, suggesting a change in the dynamics of the market.
Despite some minor setbacks along the road, the On-Balance Volume (OBV) indicator has been on an upward track since seeing a significant spike in June.
As of this writing, the OBV has dropped from 1256.6 trillion in December to 1177.5 trillion, indicating a recent slowdown in buying enthusiasm.