Shiba Inu is an ERC-20 token running on top of the Ethereum network. Its native token SHIB is the 16th biggest cryptocurrency in terms of market cap. SHIB has a daily trading volume of nearly $125 million with close to 1.3 million holders in the last three years.
June was a bullish month for SHIB, and many holders hope for the same sentiment this month. Fortunately, experts agree that Shiba Inu is in for a continuous rise in its forecast. Here is our price prediction for Shiba Inu in July, and just how high SHIB can go.
Also Read: Shiba Inu: You Can Now Become a SHIB Billionaire With Only $10,000
SHIB Price Prediction for July 2023
Looking at Shiba Inu’s price movements this year, the token performed well during Q1 but shed its gains in Q2. After touching a yearly high of $0.00001473, it fell nearly 40% in less than 60 days in Q2 of 2023.
There are many contrasting price predictions for SHIB this month. Leading on-chain metrics and price prediction firm CoinCodex has painted a bearish picture for Shiba Inu next month. The AI firm predicted that Shiba Inu could reach a low of $ 0.000005694 during mid-July.
On the other hand, experts on Finder’s panel believe that Shibarium will contribute to cutting a zero off of SHIB’s price. The results unveiled that 25% of the panelists are optimistic about Shibarium’s potential to positively affect SHIB’s price.
Also Read: Shiba Inu: SHIB Expected to Rise 550%, Predict Experts
It’s safe to say that SHIB is a bit bearish after bullish hopes towards the end of June. Analysts at Changelly believe that Shiba Inu will face a significant drop this month, reaching as low as $0.000005541. The meme coin is on the rise in the last 24 hours, however, it appears that the current bearish market behind that will ensure that that rise won’t last long.
Shiba Inu is currently very volatile. Hence, price predictions are hard to curate. Ultimately, SHIB may be better off in July to analyze on a day-to-day basis than to predict, to be safe. However, it still stands that Shiba Inu can rocket back up once the Shibarium mainnet arrives.