The Shiba Inu (SHIB) ecosystem has endured a difficult month throughout August. With more falls than upticks, the meme coin suffered. The asset dipped to a low of $0.00001108.
While the community was hoping that Shiba Inu would eliminate a zero, it dropped by close to 14% over the past 30 days. Despite this, the market seemed optimistic and was hoping for an eventful September 2024.
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Current Market Status and Predictions
At press time, the meme coin was trading at $0.00001487, a drop of 1.12% over the past 24 hours. This dip comes as a surprise to many, as the network announced its recent inclination towards decentralization.
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SHIB is currently the 13th largest cryptocurrency, with a market capitalization of $8.85 billion. The asset demonstrates its wide acceptance and significant market presence.
Investor Sentiment and Market Data
The cumulative Long Liquidation Leverages demonstrated investors’ confidence. According to Coinglass data, there were more longs than shorts on the previous day. This disparity implies that traders are expecting the price of SHIB to increase. But predictions for the next month could spell a whole new narrative.
Shiba Inu September 2024 Price Prediction
Experts in the cryptocurrency market predict that after examining Shiba Inu’s price, the SHIB rate will surge to a high of $0.0000242 in September 2024.
While this shatters the asset’s plans to eliminate a zero, the upcoming high is still a notable spike from its current price levels. However, the meme coin might fall to a low of $0.0000169.
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In addition, the estimated average Shiba Inu for September 2024 is close to $0.0000206. Thus, it seems that the asset will undergo a bullish September.