Shiba Inu Price Prediction 2024 New: Can SHIB Reach $0.1?
Following a significant increase of 14.68% last week, SHIB’s price charted a notable bearish candlestick on a weekly timeframe. This downturn expanded the correction to 23%, pushing the price to retest the support level at $0.000020.
However, with a bullish reversal, the meme token maintained its position above the critical support and resonated near the 38.20% Fibonacci level. Moreover, with a bullish recovery this week and renewed buying pressure at the $0.000024 level, the bulls signaled a buying opportunity to onlookers.
Should the market momentum strengthen, buyers could alleviate the pullback, leading to a reversal in SHIB’s price trajectory, potentially climbing above the $0.00005833 threshold.
SHIB Price Prediction for 2024
Currently, Shiba Inu is in a heavy adjustment phase, with buyers striving to regain control for a market recovery. SHIB’s price broke through a long-term resistance trendline but failed to maintain the breakout rebound, resulting in a drop below $0.000010.
Notably, the Shiba Inu price trend broke the lower high pattern of a double bottom formation, but sellers are back in the game.
Shiba Inu (SHIB) has a challenging start in 2024, but the continuous struggle with the trendline is crucial for Shiba Inu’s price trend throughout the year.
If the price continues to rise above $0.00001195, it could reach a target of $0.00002026 in 2024. However, if the SHIB price reverses, it could undoubtedly fall to $0.00000750. Overall, the outlook for SHIB is optimistic, but there is a definite downside risk.
Shiba Inu Coin Price Prediction for 2025
Should the developers’ vision materialize and Shiba Inu becomes a major player in the virtual universe, SHIB’s price could reach $0.00003965. However, if community-driven buy-sell pressures dominate, the average price of SHIB could be around $0.000035215.
On the other hand, if investors fail to keep up with the liquidity of digital assets on exchanges, FUD and negative sentiment could drive the price down to $0.00003078.
Bottom Line
It is undeniable that Shiba Inu‘s price has fallen more than 88% from its ATH of $0.00008854. Consequently, many question whether Shiba Inu is dead.
However, as emphasized in our SHIB price predictions above, the future outlook for Shiba Inu remains optimistic. Surprisingly, with a breakthrough at $0.00001196, SHIB could soar to an optimistic high of $0.00002026 by the end of 2023.
Conversely, the downside is that if this meme token breaks below the trendline, SHIB’s price could plummet to just $0.00000750.