Shiba Inu has been attracting significant attention recently due to various factors. One of them is the introduction of Shibarium, a layer-2 scaling solution. Despite optimistic anticipations for an upward trend following this release, SHIB fell short of meeting those expectations. With a weekly decline of 23%, SHIB’s current value stands at $0.000007921, showing a daily decrease of 5%.
Although the existing circumstances aren’t favorable for those holding the asset, many were optimistic about a potential turnaround in the near future. However, the key question remains whether SHIB will persist with this downward trajectory for the remainder of the year.
Shiba Inu Price Prediction 2023
It is anticipated that the overall market conditions will exert a substantial influence on SHIB’s performance throughout this year. A positive market performance could trigger a rebound, while a further downturn might lead Shiba Inu to breach its support level, resulting in new lows. Taking several factors into consideration, Techopedia shared a prediction for SHIB for the rest of the year.
As indicated by the platform, SHIB is anticipated to reach an average price of $0.0000083 by September 2023. The asset’s potential lowest point is estimated at $0.0000076, while the highest achievable level is projected to be $0.000009. For October, SHIB might preserve an average price of $0.000009, with a possible decline to a low of $0.0000065. Additionally, there’s an increased possibility of SHIB achieving a price increase significant enough to remove a zero, potentially reaching a high of $0.0000125.
The final two months of the year might experience heightened volatility. According to the platform’s projections, SHIB could attain an average price of $0.0000098 in November. Similar to previous instances, the prospect of removing a zero from the price was noted, as it could potentially surge to a peak of $0.000014. On the other hand, there’s also a possibility for it to drop to a low of $0.0000056.
Also Read: Shiba Inu Price Prediction (SHIB): August End 2023
Here’s how 2023 might end
During the last month of 2023, the meme coin could experience a substantial increase. Techopedia predicted that SHIB could potentially rise to a maximum of $0.000015686 or decline to a minimum of $0.000005086. The asset might maintain an average price of approximately $0.00001038.
While this is a long way from the asset’s current price, the overall sentiment of the market will also come into play. This, along with adoption, token burns, and community engagement, will play a vital role.
Also Read: Shiba Inu: Can Shibarium Still Burn 5 Trillion Tokens Monthly?