Shiba Inu is currently trading around the $0.000019 mark on Wednesday and is mostly moving sideways in the charts. SHIB rallied in March 2024 by rising 280% in a month. The surge in price came on the heels of the Bitcoin halving event which sent several cryptocurrencies to hit new highs.
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While Bitcoin reached an all-time high of $73,737, Shiba Inu reached a yearly high of $0.000035 during the same period. However, it shed most of its value thereon falling to its current level of $0.000019. Another leg-down could push it to trade with five zeroes at the $0.000009 level.
Now that SHIB is on the back foot, will its price rebound and surge like it did in March this year? In this article, we will highlight how high or low Shiba Inu will trade in the indices by the end of 2024.
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SHIB: Here’s the Highest Price Point SHIB Could Trade in 2024
There are slim chances for Shiba Inu to breach its 2024 high of $0.000035. The markets are not bullish and are not attracting heavy buying pressure as they did in March this year. The Bitcoin halving event is complete and there’s no other significant development that could push prices up.
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The cryptocurrency market is now at the mercy of the global economy and is facing macroeconomic pressures. Therefore, Shiba Inu climbing in the charts like it did early this year might be impossible. So the highest SHIB could trade this year is its March 2024 high of $0.000035.
At press time, SHIB is trading at $0.00001935 and is up nearly 1% in the 24-hours day trade. SHIB is down close to 78% from its all-time high of $0.00008616, reached in October 2021. It’s been nearly three years since the token failed to climb above its ATH.