Shiba Inu spiked 77% during Q1, 2023, and outperformed Bitcoin and the Nasdaq 100 index by a large margin. The spike came on the heels of a Shibarium beta release but things turned downhill during Q2 in the same year. The dog-themed token shed all its gains and added an extra ‘zero’ and it is struggling to reclaim its previous rally. However, the lead developer of ShibaSwap, Shytoshi Kusama hinted in a recent blog that Shibarium could be released in August.
Despite the revelation, SHIB’s price failed to rally in the indices and remained trading sideways the whole week. The Ripple vs SEC lawsuit’s outcome gave SHIB’s price a boost but the token quickly retraced a day later. In this article, we will highlight what Shiba Inu’s price could be by the end of July 2023.
Shiba Inu: SHIB Price Prediction For July 2023
The leading on-chain metrics and price prediction firm CoinCodex estimates that Shiba Inu could trade flat in July 2023. SHIB is currently trading at $0.00000796 and aims to delete a ‘zero’ and get back to trading with four ‘zeroes’ in the indices. However, according to the forecast, Shiba Inu might not delete a ‘zero’ in the next two weeks.
The forecast estimated that Shiba Inu could reach a maximum high of $0.0000083 by the end of July. That’s an uptick and returns on investment (ROI) of approximately 5.5% for the next 14 days.
The move from $0.00000796 to $0.0000083 leaves no room for investors to make decent profits. Therefore, it is advised to remain cautious before taking an entry position into SHIB this month.
At press time, Shiba Inu was trading at $0.00000796 levels and is down 1% in the 24-hours day trade. However, SHIB is down close to 91% from its all-time high of $0.00008616, which it reached in October 2021.