Shiba Inu, SHIB could hit $0.000058 in 2024Shiba Inu’s price prediction for the most bearish scenario will value SHIB at $0.000018 in 2024.Shiba Inu’s previous All Time High was on 28 October 2021 where SHIB was priced at $0.000086.
Shiba Inu’s price at the same time last week was $0.000024. It has moved by 6.79 % in the past week and is currently at $0.000023. Infact, in the past 24 hours, SHIB has dumped by -2.13 %. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and SHIB could hit $0.00011 in 2025.
The total circulating supply of Shiba Inu as of writing this article was $589263175318158.50 and the marketcap of SHIB remains at $13,999,396,437
SHIB price prediction: Key highlights
1. Primary support and resistance levels
In the weekly timeframe, SHIB established its lowest support level at $0.000007. Its highest resistance level is likely to be $0.000053.
2. Market sentiment
The market conditions in April 2024 suggest that SHIB bulls have been getting weak.
3. Predictive forecasts
Based on predictions from our AI/ML models, the average price of SHIB is expected to reach $0.0001 in 2031 and increase to $0.0003 in 2035.
Get valuable insights on SHIB via a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:
SHIB technical analysis: Market battles to prevent bearish reversal
An analysis of the SHIB’s weekly chart revealed significant fluctuations in price movement, offering insights into potential future trends and Shiba Inu price prediction for 2024. Initially, the token faced considerable resistance at the $0.000011 mark. Repeated attempts to surpass this level in April culminated in a rejection in mid-April, initiating a downward trajectory.
This decline led to a brief breach of the lowest support at $0.000007 in June. Despite these challenges, the bulls tried to rally and reclaimed this level shortly. Nonetheless, their success was short-lived as the price failed to overcome $0.000011 in August, leading to another period of decline back to the lowest support by September.
After a momentary fall below the low support the next month, an interesting pattern emerged as the bulls initiated another recovery attempt in mid-October. The price challenged the resistance once more in mid-December, only to face another setback. Yet, SHIB didn't fall to previous lows.
The beginning of the new year did not immediately bring about a change in fortune for the memecoin, as it continued to struggle against the same resistance level. However, a turning point was observed towards the end of February when a significant price surge enabled the token to overcome this long-standing barrier. This breakthrough was not isolated, as many altcoins, including SHIB, often follow Bitcoin's (BTC) price movements, which were trending higher.
Continuing its upward trajectory into March, the token established $0.000032 as its new highest resistance level while reclaiming $0.000020 as support. This development was particularly significant, as this support level had not been breached since May 2022.
SHIB stood out as one of the cryptocurrency market's top performers, boasting substantial gains. However, this streak was interrupted as the broader market crashed. The dog-themed token underwent a correction in April after being deemed overbought. According to CoinMarketCap, its value dropped by more than 26% over the last month.
As the analysis concluded, the bulls were holding on to the current support, with the token trading closely at $0.00002114. Data from Santiment indicated a decline in SHIB's Market Value to Realized Value (MVRV) ratio.
This can lead to selling pressure as holders try to liquidate their positions to avoid potential losses. If the current support breaks, SHIB could retract to $0.000014 or $0.000013. Pronounced bearish conditions could potentially push the token's price down to $0.000011.
As per AMBCrypto's recent analysis, if SHIB surpasses the price levels of $0.000035 and $0.000039, it could potentially achieve an additional 60% in gains. Nonetheless, to reclaim the all-time high (ATH), bulls might need to watch out for substantial pushback at $0.000053.
Our prediction models support a moderate yet growing bullish sentiment, forecasting the token's average trading price to rise as high as $0.0001 in 2031. The projections also suggest an increase in the token's average trading price to $0.0003 by the year 2035.
SHIB's 2024 roadmap: Key indicators to watch and trade
The trading volume of SHIB remained lackluster for most of the observed period. A notable increase in volume was observed during the late February surge, with a peak volume of 355.715 trillion recorded in March.
The recent drop in the token’s value was mirrored in the volume dynamics. This pattern reflected a re-evaluation of the token's value by the market as traders reduced positions or waited for new developments.
The On-Balance Volume (OBV) began to ascend slightly in June. It then faced a downturn from August to October before resuming its ascent.
Between December and mid-February, the indicator showed flat momentum. This was succeeded by a sharp spike, with the OBV peaking at 1782.855 trillion. At the time of writing, it slightly descended to 1519.719 trillion, suggesting buyer fatigue.
The Awesome Oscillator (AO) dropped below the zero line in May. It only turned positive towards the end of November, suggesting a shift towards buying momentum.
Towards the end of February, the AO's positive value rose significantly. However, this trend reversed in April with a slight drop, bringing the indicator close to zero at 0.00001342. It indicated a decrease in market momentum.
Shiba Inu Price Prediction
Shiba Inu has had an eventful 2023. To simplify the latest SHIB price prediction, we have divided up the prediction by short term Shiba Inu price prediction and long term Shiba Inu price prediction. As of writing this article, SHIB had a trading volume of 434,182,376. Shiba Inu has gone down by -17.10% in the past 30 days.
According to our analysis in the short term, Shiba Inu price prediction for July 2024 shows the average price of SHIB at 0.000036 and the highest possible price for July 2024 would be $0.000038.
Further, according to our analysis in the long term, Shiba Inu price prediction for November 2024 shows the average price of SHIB at 0.000044 and the highest possible price for November 2024 would be $0.000047.
Shiba Inu price prediction 8 May 2024: Shiba Inu's price for 8 May 2024 according to our analysis should range between $0.00002 to $0.000023 and the average price of SHIB should be around $0.000022.
Shiba Inu price prediction 9 May 2024: Shiba Inu's price for 9 May 2024 according to our analysis should range between $0.000021 to $0.000024 and the average price of SHIB should be around $0.000022.
Shiba Inu price prediction 10 May 2024: Shiba Inu's price for 10 May 2024 according to our analysis should range between $0.000021 to $0.000024 and the average price of SHIB should be around $0.000022.
Shiba Inu price prediction 11 May 2024: Shiba Inu's price for 11 May 2024 according to our analysis should range between $0.00002 to $0.000023 and the average price of SHIB should be around $0.000022.
Shiba Inu price prediction 16 May 2024: Shiba Inu's price for 16 May 2024 according to our analysis should range between $0.000019 to $0.000022 and the average price of SHIB should be around $0.00002.
Shiba Inu price prediction 21 May 2024: Shiba Inu's price for 21 May 2024 according to our analysis should range between $0.000018 to $0.000021 and the average price of SHIB should be around $0.000019.
Shiba Inu price prediction 31 May 2024: Shiba Inu's price for 31 May 2024 according to our analysis should range between $0.000016 to $0.000019 and the average price of SHIB should be around $0.000018.
Shiba Inu price prediction June 2024: Shiba Inu's price for June 2024 according to our analysis should range between $0.000031 to $0.000036 and the average price of SHIB should be around $0.000034.
Shiba Inu price prediction July 2024: Shiba Inu's price for July 2024 according to our analysis should range between $0.000033 to $0.000038 and the average price of SHIB should be around $0.000036.
Shiba Inu price prediction August 2024: Shiba Inu's price for August 2024 according to our analysis should range between $0.000035 to $0.00004 and the average price of SHIB should be around $0.000038.
Shiba Inu price prediction September 2024: Shiba Inu's price for September 2024 according to our analysis should range between $0.000037 to $0.000043 and the average price of SHIB should be around $0.00004.
Shiba Inu price prediction October 2024: Shiba Inu's price for October 2024 according to our analysis should range between $0.000039 to $0.000045 and the average price of SHIB should be around $0.000042.
Shiba Inu price prediction November 2024: Shiba Inu's price for November 2024 according to our analysis should range between $0.000041 to $0.000047 and the average price of SHIB should be around $0.000044.
Shiba Inu price prediction December 2024: Shiba Inu's price for December 2024 according to our analysis should range between $0.000043 to $0.000049 and the average price of SHIB should be around $0.000046.
Shiba Inu's Long Term Price Prediction
Shiba Inu’s long term Price Prediction below is a look at SHIB’s future prospect with regards to price. Shiba Inu was last seen at $0.000023, with a market cap of $13,999,396,437 and trading volumes of $434,182,376. SHIB’s price prediction is possible by analyzing historical price action, current developments and social sentiment from the community.
Shiba Inu price prediction 2024: Shiba Inu's price for 2024 according to our analysis should range between $0.000038 to $0.000058 and the average price of SHIB should be around $0.000048.
Shiba Inu price prediction 2025: Shiba Inu's price for 2025 according to our analysis should range between $0.000079 to $0.00011 and the average price of SHIB should be around $0.000099.
Shiba Inu price prediction 2026: Shiba Inu's price for 2026 according to our analysis should range between $0.00016 to $0.00024 and the average price of SHIB should be around $0.0002.
Shiba Inu price prediction 2027: Shiba Inu's price for 2027 according to our analysis should range between $0.00033 to $0.00049 and the average price of SHIB should be around $0.00041.
Shiba Inu price prediction 2028: Shiba Inu's price for 2028 according to our analysis should range between $0.00067 to $0.001 and the average price of SHIB should be around $0.00084.
Shiba Inu price prediction 2029: Shiba Inu's price for 2029 according to our analysis should range between $0.0013 to $0.002 and the average price of SHIB should be around $0.0017.
Shiba Inu price prediction 2030: Shiba Inu's price for 2030 according to our analysis should range between $0.0028 to $0.0042 and the average price of SHIB should be around $0.0035.
Shiba Inu price prediction 2031: Shiba Inu's price for 2031 according to our analysis should range between $0.0058 to $0.0087 and the average price of SHIB should be around $0.0072.
Shiba Inu price prediction 2032: Shiba Inu's price for 2032 according to our analysis should range between $0.011 to $0.017 and the average price of SHIB should be around $0.014.
Shiba Inu price prediction 2033: Shiba Inu's price for 2033 according to our analysis should range between $0.024 to $0.036 and the average price of SHIB should be around $0.03.
Shiba Inu price prediction 2035: Shiba Inu's price for 2035 according to our analysis should range between $0.1 to $0.15 and the average price of SHIB should be around $0.12.