Shiba Inu, a prominent meme coin, has been grabbing headlines with its recent price fluctuations. SHIB has positioned itself as a serious contender, engaging in head-to-head competition with the well-known Dogecoin.
SHIB began the year trading below $0.000010 and subsequently experienced a rally of over 450%,. It also reached a yearly peak of $0.000045 in mid-February. Despite this increase, the token remains 73% below its all-time high from 2021. This recent price action suggests renewed interest and positive sentiment surrounding the cryptocurrency.
At the present trading price of approximately $0.00002703, after a period of consolidation, SHIB seems to be poised for its next potential price movement. Given the considerable volatility in the market, we offer our assessment of the likelihood of SHIB hitting $0.0001 by May.
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Shiba Inu price prediction for May
Shiba Inu’s price currently stands at $0.00002705, with a 2% drop in value over the last 24 hours. According to Changelly analysts, SHIB is expected to trade at a minimum of $0.0000339 and a maximum of $0.0000786 by May. Experts predict that the average trading price will be $0.0000562.
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Shiba Inu is up by 21.9% in the last seven days and 1% in the last 30 days. SHIB is up by 161.3% in the last year. During the positive market run of early 2024, SHIB even reached the $0.00004 level.
However, the recent market conditions and analysis showcase that SHIB is unlikely to hit the $0.0001 level by May. The market is volatile at the moment and is showing a mix of downtrends and uptrends. However, the price can go in either direction, depending on market sentiment and other factors.
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