The cryptocurrency market is showing recovery signs once again, and Shiba Inu (SHIB) is making another attempt at deleting a zero from its price. Although the asset is up by over 1% in the daily and weekly charts, it is down 14.9% over the previous month and more than 25% since January 2023.
SHIB’s price has not found its footing and is struggling to break past its resistance levels.
Shiba Inu (SHIB) weekend price prediction
According to CoinCodex, SHIB could rally to $0.000009509 by Feb. 4, 2024 (Saturday), a growth of around 5.5% from current levels. However, the platform anticipates SHIB’s price to fall to $0.000008097 the following week, a decline of over 10% from current levels.
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Changelly anticipates Shiba Inu (SHIB) to rise to $0.000009542 by Feb. 4, 2024 (Saturday), an increase of about 5.87% from current levels. However, the platform predicts SHIB’s price to fall to $0.000009121 on Feb. 5, 2024 (Sunday).
When will SHIB delete a zero from its price?
SHIB’s price has oscillated between $0.00001 and $0.000009 for quite some time now. The asset deletes a zero during a market rally and quickly gains it back a few weeks later. According to Changelly, SHIB may delete its zero sometime in early 2025.
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Telegaon, on the other hand, is more bullish on SHIB. The platform predicts SHIB to reach a maximum price of $0.0000571 in 2024. Reaching $0.0000571 from current levels would translate to a growth of over 533%.
However, if we enter a bull run later this year, we may see Shiba Inu (SHIB) gaining momentum. Moreover, the SHIB team is working on a new burn mechanism, rumored to burn trillions of tokens yearly. The new burn mechanism may help propel SHIB’s price beyond $0.00001 sooner than anticipated.