CoinDesk reports:
Currently, the trading price of Shiba Inu is around $0.00001661 on Wednesday, with the majority still at a disadvantage. SHIB has depreciated by nearly 35% in the past month and continues to bleed on the chart. The last rebound was in March 2024, when it surged by 280% in a month after the Bitcoin halving event. Since then, SHIB has been in a downward spiral, with almost no price surges in the past three months.
However, a new forecast suggests that Shiba Inu may start a bull market and surge by nearly 250%. The latest price prediction forecasts that SHIB may replicate its bull market from March 2024 in the second half of 2024. According to the forecast, SHIB’s price is consolidating and may surge to a new annual high.
A leading cryptocurrency analyst on Trading View, Alikze, shared a chart showing that Shiba Inu may trigger an upward trend. He wrote that SHIB is currently hovering near the “liquidity area” and may start to rebound if its price breaks through the range of $0.00002.
He wrote that if Shiba Inu breaks through the resistance and reaches $0.00002, the next round of prices may rise to $0.000026. He predicted that from there, SHIB may approach the key level of $0.00003. He forecasted that from now on, SHIB may attract a lot of bullish sentiment and reach a new high of $0.00005.
This represents an investment return of approximately 250% from the current price of $0.00001661. If the prediction is accurate, a $1000 investment could turn into $3500. There is no guarantee that Shiba Inu will grow by 250% in the second half of 2024. The cryptocurrency market is volatile, and it may experience a sharp decline if there is macroeconomic pressure on the global financial situation.