On Wednesday, Shiba Inu is currently trading around $0.00001661 and has remained weak for most of the time. SHIB has depreciated by nearly 35% in a month and has performed poorly on the charts. The last time it rose was in March 2024, when it surged 280% in a month after the Bitcoin halving event. Since then, SHIB has been in a downward trend, with almost no price increase in the past three months.

However, a new forecast suggests that SHIB could kick off a bull run and surge by nearly 250%. The latest price prediction predicts that SHIB could replicate its March 2024 bull run in the second half of 2024. The forecast estimates that SHIB’s price is consolidating and could surge to new yearly highs.

Shiba Inu: Latest Forecast Shows SHIB to Reach $0.00005, a 250% Surge

Leading cryptocurrency analyst “Alikze” from Trading View shared a chart showing that Shiba Inu could spark an uptrend. He wrote that SHIB is currently hovering around a “liquidity zone” and could spark a rally if its price breaks above the $0.00002 range.

He wrote that if Shiba Inu breaks through the resistance level and reaches $0.00002, the next leg up could push its price to $0.000026. 禁qun加威；826729496 He predicted that another leg up from now could push SHIB to the $0.00003 mark. He predicted that from now on, SHIB could attract strong bullish sentiment and set a new high of $0.00005.

From the current price of $0.00001661, this is an increase with a return on investment (ROI) of about 250%. If the prediction is accurate, a $1,000 investment could turn into $3,500. There is no guarantee that Shiba Inu will be up 250% in the second half of 2024. The cryptocurrency market is highly volatile and could collapse if global financial conditions face macroeconomic pressures.