Shiba Inu (SHIB) is currently being traded at a price of $0.000008486, experiencing a slight increase of approximately 0.24% in the 24-hour day trade. The price of SHIB has remained stagnant for over a week, showing minimal indications of a positive rally. Investor sentiment towards SHIB has largely turned negative as doubts about its prospects grow.
The dog-themed token has been on a continuous downward trend for the past two months, instilling fear among the community that entering a position now could lead to unfavourable outcomes.
However, a prominent cryptocurrency exchange has predicted that Shiba Inu (SHIB) might experience a rally in the near future, resulting in the deletion of one of the zeros in its price. The trading platform suggests that investors taking advantage of the current price dips may see profits in the upcoming weeks.
Shiba Inu’s 165% Price Prediction
ChangeNow, a cryptocurrency exchange, has predicted, based on forecasts from a price-tracking resource, that Shiba Inu (SHIB) could initiate a rally in the near future. The price prediction suggests that SHIB has the potential to reach $0.0000225 in the coming weeks, which would result in an increase of approximately 165% from its current price.
“Shiba Inu token has been turning heads and could be a great addition to your crypto portfolio with predictions indicating a rise to $0.0000225,” tweeted ChangeNOW.
If the prediction by the exchange regarding Shiba Inu (SHIB) turning bullish and reaching $0.0000225 in the future proves accurate, an investment of $1,000 at its current price could grow to $2,650. You can read the article linked here for further information and a comprehensive price prediction analysis for SHIB the exchange offers.
Related article: Over 15 Billion Shiba Inu Tokens Burned in May
Although it may not be too challenging for Shiba Inu (SHIB) to delete its fifth zero in terms of price, eliminating all the zeros to reach the $0.01 milestone is still daunting. Most investors set their sights on SHIB reaching $0.01 rather than just $0.00001. For an in-depth exploration of the realistic possibility and potential timeline for SHIB to reach the coveted 1-cent mark, you can refer to the article using this link.
As of the time of writing, Shiba Inu (SHIB) is being traded at a price of $0.000008486, showing an increase of 0.24% in the 24-hour day trade. Additionally, SHIB has experienced a significant drop of 90.42% from its all-time high of $0.00008616, which was reached in October 2021.