Shiba Inu is currently hovering around the $0.000025 price range on Saturday and is mostly trading sideways in the charts. The cryptocurrency has barely seen a price spurt in the last two months and remains on the back foot. SHIB skyrocketed 280% in March this year on the heels of the Bitcoin halving event. It went from a low of $0.000008 to a high of $0.00004 between January to March.
Also Read: Shiba Inu Weekend Price: Can SHIB Reclaim $0.00003?
Now that the dog-themed token is moving sideways in the indices, can it pick up steam next month and rally? In this article, we will highlight how high or low Shiba Inu could trade in the charts in June 2024.
Shiba Inu: Can SHIB Delete a Zero in June 2024?
Leading on-chain metrics and price prediction firm CoinCodex has painted a bullish picture for Shiba Inu in June 2024. According to the forecast, SHIB could sustainably scale up in the charts and trade near its previous all-time high of $00008616, which it reached in October 2021.
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The forecast estimates that Shiba Inu could repeat its March feat and skyrocket another 227% this month in June 2024. The prediction claims that SHIB could reach a new yearly high of $ 0.00008467 by the end of the month. The price target for SHIB for June 30, 2024, stands at $ 0.00008467, which is a spike of 227%.
Also Read: Shiba Inu To Hit $0.00006: Early Bitcoin Adopter DaVinci Jeremie
Therefore, an investment of $1,000 could turn into $3,270 by the end of June 2024 if the prediction is accurate. That’s an impressive amount of returns in a short period which even the stock and commodity market is unable to deliver.
Nonetheless, there is no guarantee that Shiba Inu will spike 227% in the charts in June 2024. The cryptocurrency market is highly volatile and cuts both ways delivering losses to investors. It is advised to trade at your own risk in SHIB.