Shiba Inu is one of the most widely discussed cryptocurrencies. The token is known as a beacon for meme crypto culture and is often projected as one of the most popular cryptos existing within the sector. With Bitcoin detailing and trading under $65K, the price of SHIB also took a steep turn, trading at a nominal price level of $0.000016. Will SHIB be able to claim a new price? The technical platforms think so.
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Shiba Inu: Rise to Glory
The recent WazirX hack has done some serious damage to SHIB. The token has taken a hit and has lately been trading minimally, unable to peak and ascend to new highs. However, technical platforms like Changelly and CoinCodex predict a different story.
According to CoinCodex, Shiba Inu is all set to claim a new high, peaking to stabilize at $0.00002708 by August 6.
The Shiba Inu price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these Shiba Inu projections, SHIB will be changing hands at $0.00002708 on August 6, 2024, gaining 60.99% in the process.
It was recently revealed that the US government is holding nearly 54 billion Shib tokens in its portfolio. With such a diverse set of elements playing around, the price of SHIB could soon catapult to a new high.
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Shiba Inu 120% Spike Incoming: Here’s When?
The leading technical platform, CoinCodex, has yet again issued a fresh forecast about SHIB. The token may surge and spike by 120% to claim a new high of $0.00003695 by the end of the year 2024.
“Shiba Inu is forecasted to trade within a range of $0.00001410 and $0.00003695. If it reaches the upper price target, SHIB could increase by 119.59% and reach $0.00003695.”
At the same time, Changelly predicts that the token can claim the $0.00003 price mark by the end of August 2024.
“Crypto analysts expect that at the end of summer 2024, the SHIB price will be around $0.0000269. In August 2024, the Shiba Inu cost may drop to a minimum of $0.0000161. The expected peak value might be $0.0000377 in August 2024.”
The crypto market is highly volatile and sensitive. The volatility may help catapult certain crypto coins to new highs. Hence, user discretion is mandatory when making important investing decisions.