Bitcoin dipped below $50k in the wee hours of the morning on August 5th, compelling the entire crypto market to encounter stark mayhem. The World’s largest cryptocurrency by market is currently trading at $53K, triggering a wave of panic selling and liquidations to loom over the sector.
Nearly $1 billion worth of cryptos have been liquidated till now, spreading more chaos into the play. However, some investors view this as a perfect setup to make more money. Shiba Inu (SHIB) is no exception to this rule. Here’s how it may work in the long haul.
Also Read: Ripple: XRP Forecasted To Hit $2.60, $6.32 & $32, Here’s When?
Bitcoin Dips, Altcoins Tanks, What’s Happening?
The cryptocurrency market was bleeding on Monday as stark liquidations were reported. With Bitcoin stabilizing at $53K, the liquidations are tugging at investors’ hearts, making them question their holdings.
At the same time, Shiba Inu (SHIB) is also experiencing intense price turmoil. It is currently trading at $0.00001144, down 19% in the last 24 hours.
With tumultuous mayhem sweeping over, several critical influencers of the crypto realm have stepped up to curb the chaos. Robert Kiyosàki, the author of Rich Dad Poor Dad, shared how he’s unfazed by the latest BTC dip.
“My apologies. Having a drink. Continuing on…. Crashes are times When the brave get richer and the cowards get poorer…. Because they sell or do nothing. The world is filled with poor cowards. Be smart. stay calm, and invest when the cowards are quitting. Take care.”
Similarly, while the market may spiral downward, many investors view this as a lucrative opportunity to buy the precious crypto dips. With Shiba Inu at the lowest price path of $0.00001144, the technical platforms still portray bullish price signals for SHIB, considering its growing ecosystem development and setup.
Shiba Inu Price Forecast: Should You Buy The Dip?
According to CoinCodex, August seems like a stable month for SHIB, where the token may touch a new price threshold of $ 0.00002175.
“The Shiba Inu price forecast for the next 30 days is a projection based on the positive/negative trends in the past 30 days. Based on these Shiba Inu projections, SHIB will be changing hands at $ 0.00002175 on Aug 11, 2024, gaining 59.45% in the process.”
Changelly, another notable platform, adds that SHIB may surge by a whopping 120% to the $0.0000220 price level.
Also Read: Shiba Inu: SHIB’s Game Plan to Burn Billions by Gaming
“Crypto analysts expect that at the end of summer 2024, the SHIB price will be around $0.0000220. In August 2024, the Shiba Inu cost may drop to a minimum of $0.0000132. The expected peak value might be $0.0000309 in August 2024. Potential ROI: 120.7%.”
Investors keen to explore the risky side of the market may find the current market scenario a beneficial opportunity to buy the SHIB dip.
However, intense crypto market bouts are highly unpredictable and may sometimes chart paths away from such predictions. Hence, user discretion is mandatory when making meaningful investing discussions.