Shiba Inu is currently trading around the $0.000020 mark on Monday and is down nearly 2.5% in the day’s trade. SHIB has mostly traded sideways for close to two months with little to no price spurts in 60 days. The dog-themed token had skyrocketed nearly 280% in Q1 of 2024 on the heels of the Bitcoin halving event.
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However, in Q2 of 2024, Shiba Inu shed close to 40% of its value and is heading south in the charts. Will SHIB dust off its baggage and begin to surge in the indices by the end of this month? In this article, we will highlight how high or low SHIB could trade by the end of June 2024.
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SHIB: Mid-June 2024 Price Prediction For Shiba Inu
Leading on-chain metrics and price prediction firm CoinCodex painted a bullish picture for SHIB by the end of June 2024. According to the price prediction, Shiba Inu could surge by another 30% from its current price and reach a target of $0.00002764. Therefore, an investment of $1,000 could turn into $1,300 if the forecast turns out to be accurate. That’s an uptick and a return on investment (ROI) of 30% in the next two-week period.
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Nonetheless, there is no guarantee that Shiba Inu could rise by 30% and hit $0.00002764 on June 30, 2024. The cryptocurrency market is highly volatile and cuts both ways delivering massive losses to investors. The global macroeconomic factors could also lead to the decline of leading cryptocurrencies including Bitcoin, Ethereum, XRP, Cardano, and SHIB. It is advised to do thorough research before taking an entry position into Shiba Inu currently and trade at your own risk.
At press time, Shiba Inu was trading at $0.00002026 and is down close to 2.4% in the 24-hour day trade. SHIB is also down nearly 77% from its all-time high of $0.00008616, which it reached in October 2021.