Shiba Inu (SHIB) is currently sitting at $0.00001557, up 16% in the last 24 hours. While Bitcoin continues to portray volatility, SHIB is currently holding its position strong, displaying a stable price stance. In the middle of Kusama taking on a new global ambassador role, SHIB is aiming to collaborate on new projects in order to establish a robust price outlook.
Also Read: Trump Deports Illegal Indian Immigrants, Spends $4,675 Per Person
Shiba Inu: Should You Buy The Dip? Expert Says Yes
Monday turned out to be brutal for the cryptocurrency domain as rising trade war narratives gained steam, ending up pushing BTC to hit $93K. In the midst of it, Shiba Inu also lost its footing and is currently sitting at 0.00001557 at press time. While the development has sparked a widespread frenzy in the cryptocurrency realm, several price analysts are considering this a novel opportunity to scoop up the lucrative price dips.
Per a notable price analyst, Thom Sieloff now is the perfect time to scoop up SHIB and XRP, considering both the tokens have hit the lowest price points, making it easier for traders to accumulate. Sieloff later shared how SHIB is ultimately aiming for the moonshot, aiming for a high-price pedestal in the process.
“I bought more $XRP and SHIB tonight. I can’t believe $SHIB… $0.00001100s😭 But… W🤩W! What a deal! Bags packed and heading to the moon!How about you? 👇”
I bought more $XRP and SHIB tonight.
— Thom Sieloff (@RealThomSieloff) February 3, 2025
I can't believe $SHIB… $0.00001100s😭
But… W🤩W! What a deal!
Bags packed and heading to the moon!
How about you? 👇 pic.twitter.com/ezcAa8LzAX
Also Read: Solana Reclaims $200: Can SOL Hit $250 This Week?
The Token Price Forecast for February 8
Per CoinCodex, SHIB may surge to sit at $0.00003612 on February 8, 2025.
However, the token is predicted to drop by 1% by the end of February 2025.
“According to our current Shiba Inu price prediction, the price of Shiba Inu is predicted to drop by -1.09% and reach $ 0.00001650 by March 6, 2025. Per our technical indicators, the current sentiment is bearish while the Fear & Greed Index is showing 44 (fear). Shiba Inu recorded 12/30 (40%) green days with 9.88% price volatility over the last 30 days. Based on the Shiba Inu forecast, it’s now a bad time to buy Shiba Inu.”
Also Read: Elon Musk’s D.O.G.E. Accused of Misusing Treasury Data in New Lawsuit