As July 2024 goes on, Shiba Inu price prediction has become a very important point for crypto fans. SHIB is currently trading at $0.00001621 and has a market cap of $9.45 billion.
Furthermore, the announcement of ShibaCon 2024 has created excitement in the community, and might even have an impact on Shiba Inu’s price.
Also Read: Shiba Inu: Forbes Updates Its Price Prediction For SHIB
SHIB Mid-July Forecast: Impact of ShibaCon 2024 and Market Trends
The first ShibaCon 2024 is taking place in Bangkok and marks a very important milestone for the Shiba Inu project. The lead developer, Shytoshi Kusama, announced this event. He managed to fulfill the vision of the project’s creator, Ryoshi.
We are excited to participate in ShibaCon 2024, as we expect to see the latest and greatest Shiba Inu tech advancements and plans.
The announcement regarding ShibaCon 2024 is likely to have a heavy impact on the SHB mid-July forecast:
- Increased media attention – The event will surely garner significant media coverage, which in turn can create new investors for Shiba Inu.
- Community engagement—ShibaCon could refresh its community, possibly increasing buying pressure and holder retention.
Also Read: Shiba Inu: SHIB To Surge 400%, Trade At $0.000081, Analyst Predicts
Technical analysis also has a crucial role when it comes to Shiba Inu price prediction attempts. Traders are paying close attention to key indicators like Moving Averages, RSI, and MACD for any trend changes.
The latest price fluctuations and daily trading volumes ranged from $303 million to $634 million.
Based on these factors, the SHIB mid-July forecast shows two possible scenarios in my view:
- Bullish scenario – If the excitement around ShibaCon 2024 builds enough, and also combines with a positive market sentiment, SHIB could see a rise to $0.000019 or higher.
- Bearish scenario – If the market is affected badly, support for SHIB might be available around $0.000016.
Some other factors are worth considering:
- A recent 12 million funding round proves the confidence of investors
- The launch of the proprietary wallet in collaboration with Tangem on July 24th. This hardware wallet may boost user trust and adoption levels.
Also Read: Good News For Shiba Inu Holders This Market Cycle: Here’s Why
The SHIB mid-July forecast is optimistic, but it’s important to note that crypto investments involve risks. The SHIB mid-July forecast is optimistic, but it’s important to note that crypto investments involve risks. We’re excited to see ShibaCon’s 2024 effect on the coin’s price.