Shiba Inu (SHIB) has struggled to gain momentum after its rally in March. Despite its popularity, SHIB’s price has gradually decreased since its March peak. Nonetheless, the asset seems to be making some positive price movements over the last few days. The popular dog-themed crypto is up 5.1% in the 14-day chart and 1.8% over the previous month. Moreover, SHIB’s price has increased by nearly 162% since May 2023.
Moreover, Shiba Inu (SHIB) might continue its bullish trajectory over the next few weeks. According to X user Javon Marks, SHIB is in an intermission phase and is preparing for a massive bull run. Marks predicts SHIB to rally over 280% and hit $0.000088598, which would also be a new all-time high.
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Will Shiba Inu (SHIB) hit a new all-time high?
Marks is not the only one predicting a bullish trajectory for SHIB. According to CoinCodex, SHIB will break into a rally over the next few weeks. The platform predicts SHIB to hit $0.00007726 on June 11, 2024. Hitting $0.00007726 from current levels would lead to a growth of about 233.4%.
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Changelly also paints a bullish picture for Shiba Inu (SHIB) for the next few weeks. The platform anticipates the dog-themed crypto to hit $0.00007825 on June 11, 2024, a rise of nearly 238% from current levels.
However, there is also a possibility that SHIB will consolidate at current levels. The cryptocurrency market has been somewhat lackluster over the last few days. Macroeconomic factors, such as inflation and fading expectations of an interest rate cut, have fed investor fears, leading to low inflows into riskier assets. The narrative may soon change when inflation cools, and global geopolitical tensions deescalate.