Shiba Inu is undoubtedly one of the most successful cryptocurrencies in the field. SHIB's price once saw significant increases, especially in sync with the soaring Bitcoin price and the substantial rise of the token to new highs. As 2024 approaches its end, can SHIB demonstrate considerable price momentum and reach a new price of $0.00003?
Shiba Inu: What does the future hold?
Although SHIB's recent trend has been stable, some cryptocurrency analysts still predict that the token's price will reach high levels. Following this, renowned cryptocurrency analyst Javon Marks proposed a new price analysis, indicating that SHIB is expected to surge nearly 3.33 times in a short period.
Marks elaborated on his analysis of X, sharing how SHIB is paving its own way, conducting stress tests, and ultimately reaching a new price point of $0.000081 in the near future.
"$SHIB (Shiba Inu) has brought bullish signals, and it looks like it will continue to rise to $0.000081! Shiba is expected to achieve an increase of over 234%, more than 3.33 times..."
Marks cited his earlier tweet on the same price point published on December 11. He had previously shared how SHIB formed a bullish price pattern, as shown in his chart, which propelled it to surge nearly 180%. This development could soon drive its price up to $0.00081, a coveted price mark that investors are eagerly anticipating.
"$SHIB (Shiba Inu) has recently confirmed another bullish pattern, and all of its recent trends have continued, so we may be welcoming another significant upward trend. However, with the ongoing breakout and a price movement suggesting $0.000081, its gains could be larger than many expect! With the $0.000081 target continuing to play a role, we might soon witness an increase of over 180%, and as we speak, it may have already taken effect..."
What is the token's instant price trend?
While the $0.000081 price target seems ambitious, it is certainly not difficult to achieve. Here is the technical price platform's evaluation of SHIB.
According to CoinCodex data, Shiba is expected to reach a new price of $0.00003943.
Meanwhile, SHIB may experience a sharp decline in mid-January, stabilizing around $0.00002348.
"According to our current Shiba price prediction, the price of Shiba is expected to rise by 2.10% to $0.00002348 by January 24, 2025. Based on our technical indicators, the current sentiment is bearish, while the fear and greed index shows 73 (greed). Shiba recorded 15/30 (50%) green days in the past 30 days, with a price volatility of 11.38%. According to the Shiba prediction, now is not a good time to buy Shiba."
