Shiba Inu is currently trading at the $0.000022 mark and mostly remained in the red this month in April 2024. The cryptocurrency did not attract bullish pressure this week like it did throughout March last month. SHIB spiked nearly 280% in March delivering massive profits to investors who took an entry position in January. The dog-themed cryptocurrency reaches a high of $0.000044 level before retracing in price thereafter.
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The bullish sentiments for SHIB no longer hold water and the fanfare has cooled down this month. SHIBis printing more losses this week than profits and is testing the patience of its investors. Now that SHIB is on the red side of the spectrum, should you invest in the cryptocurrency currently? In this article, we will highlight a price prediction for Shiba Inu for the next two days.
Shiba Inu: Price Prediction For April 20
Leading on-chain metrics and price prediction firm CoinCodex has painted a rosy picture for Shiba Inu in the coming days. According to the price forecast, SHIB could reach a target of $00002352 on April 20, 2024. That’s a surge of approximately 5% from its current price of $0.000022 and a decent enough profit in two days.
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Therefore, an investment of $1,000 in Shiba Inu could turn into $1,050 if the prediction turns out to be accurate. If you invest $10,000, a 5% profit could make the portfolio balloon to $10,500. That’s a profit of $500 in the next two days if the prediction turns accurate.
Also Read: SHIB May Rise 28600% To $0.006 Post Bitcoin Halving
Nonetheless, the cryptocurrency market is highly volatile and cuts both ways delivering huge losses to investors. The ongoing conflict between Iran and Israel has dragged the global stock market down and cryptocurrencies could be next to fall. It is advised to do thorough research before taking an entry position into Shiba Inu currently.