Shiba Inu (SHIB) has faced a substantial price correction over the last few weeks. The asset is down 7.3% in the daily charts, 10.7% in the weekly charts, 14.9% in the 14-day charts, and 30.8% over the previous month. Despite the recent losses, SHIB’s price has rallied by 44.4% since February 2024.
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Tariffs And Hacks Cause Crypto Mayhem
The latest market dip comes after the US reimposed tariffs on Canada and Mexico. The US paused its tariffs on Canada and Mexico for 30 days. Shiba Inu (SHIB) and the larger crypto market made slight recoveries after the tariff pause.
The crypto market faced another correction last week after the Bybit hack. Illicit players robbed the exchange of nearly $14 billion worth of assets. SHIB and other crypto coins took a massive hit after the attack.
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When Will Shiba Inu Reclaim The $0.00004 Price Point?
SHIB rose to a high of $0.00003629 in March 2024 after Bitcoin (BTC) hit a new all-time high. The dog-themed crypto last traded above the $0.00004 mark in December 2021. SHIB has struggled to regain its 2021 momentum. SHIB has to rally by about 188.39% to hit the $0.00004 target.
According to Changelly, SHIB could reclaim the $0.00004 price point in November 2026. The platform anticipates the asset to trade at a maximum price of $0.0000406 in November 2026.
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Telegaon presents a more bullish outlook on Shiba Inu (SHIB). The platform predicts the asset to hit the $0.00004 mark this year. Telegaon anticipates SHIB to trade at a potential maximum price of $0.0000728 in 2025. SHIB will rally by 424.87% if it hits the $0.0000728 target.
