Shiba Inu Downgrade Will SHIB Drop or Add a Zero by End of 2024

CoinDesk Report:


As Bitcoin dropped to a new low of $54,000, the altcoin market is currently experiencing severe chaos. Several leading altcoins are suffering losses, bathed in the onslaught of the bear market that is sweeping through the cryptocurrency sector. While some analysts see this as a unique opportunity to hoard altcoins, others have lost a large amount of cryptocurrency and are mourning their losses. Following this, Shiba Inu also gave ambiguous price hints. The token’s economic development and current price trends are sending mixed signals.
Shiba Inu: What is the current trajectory of SHIB?


Shiba Inu is one of the most popular meme coins in the currency sector and has experienced a significant decline in the past 24 hours. The token has depreciated by nearly 14% in the past 24 hours, currently trading at $0.00001342. According to CoinCodex’s data, the token is currently in a bearish range, with SHIB expected to plummet to new lows and gain stronger support.
With Bitcoin dropping to a new low of $54,000, several altcoins including SHIB have been severely affected. Considering the recent anatomical changes experienced by SHIB, the signals currently being emitted by the token are mixed.
Although the Shiba Inu ecosystem has lost its current footing, it is expected to soon reach new highs. The token is currently busy with several new initiatives, including launching new updates in its Shibarium network. The token is also committed to launching a blockchain version of the Shiba Inu Eternal game, which may change the token and its price indicators.
Will SHIB remove or add zeros?
The well-known cryptocurrency analysis portal CoinCodex has predicted a new price trend for SHIB. According to CC’s data, by the end of July 2024, the valuation of Shiba Inu may shrink considerably.
“On August 4, 2024, the price of Shiba Inu may drop by -4.55% to $0.00001408. According to our technical indicators, the current sentiment is bearish, and the fear and greed index shows 29 (fear). SHIB has recorded 11/30 (37%) green days in the past 30 days, with a price volatility of 14.74%.
Currently, the fear and greed index for SHIB depicts fear, and signs of a bearish trend are widespread. However, by the end of 2024, the strong structural development that the SHIB ecosystem is undergoing will play a crucial role in stabilizing the SHIB price.
“The trading range for Shiba Inu may be $0.00001243 to $0.00003214. If it reaches the upper price target, SHIB may rise by 140.79% to $0.00003214.”
As the market fluctuates, the call to buy SHIB continues to strengthen
According to data uploaded by Santiment, social media platforms are filled with a large number of buy calls. This development indicates that buyers are dominant, and most investors are looking to “buy the dip.”
However, the portal further outlines the severe balance of negative and positive comments that the market is currently experiencing. While the current market decline may prove to be crucial for some bold investors, others are currently busy mourning the loss of their cryptocurrency holdings.


The call to hold Shiba Inu tokens is also becoming increasingly strong. According to Lucie, the marketing director of Shiba Inu, patience is the only factor that can help investors get through such difficult times.