Shiba Inu's recent trading price is $0.00002, failing to record any notable price spikes. The reason SHIB cannot climb to higher price levels is due to Bitcoin, as the market is currently facing bearish momentum, with Bitcoin dropping below $107,000, currently at $99,000 as of the time of writing. Will SHIB show some significant price momentum before the end of 2024? Let's find out.
Shiba Inu: Latest updates and price trends
Shiba Inu's current price is $0.00002205, having dropped 8% in the last 24 hours. The token price sharply fell after Bitcoin briefly broke above the $107,000 price point and then fell below $100,000. However, the current drop in SHIB price has not diminished the enthusiasm of its community, which continues to strive for SHIB to reach its highest price point.
Recently, SHIB's marketing director Lucie introduced Shibarium and explained how the ecosystem has become central to the growth of the SHIB token. Lucie detailed this development to X, adding how Shibarium helps SHIB gain new momentum and strength in the market.
Speaking of the specifics, Lucie shared how Shibarium has helped to burn $1.5 million worth of SHIB, while reducing transaction costs and making it accessible for everyone to use SHIB. Additionally, SHIB's marketing director also shared how Shibarium is helping to lay the groundwork for 'the future utility of SHIB', further strengthening the token.
"Great question! Shibarium has had a significant impact on $SHIB, including: burning over $1.5 million worth of $SHIB, directly reducing the circulating supply and increasing scarcity. Realizing low-cost transactions, allowing trades for just a few cents, and making $SHIB easier for daily use. Laying the foundation for future utilities (such as staking and governance systems), which will further strengthen the ecosystem."
Token price prediction before the end of 2024
According to CoinCodex, SHIB could soar to $0.00003025 by December 31, 2024.
By mid-January, the token could surge by 2%, reaching an average price of $0.00002247.
"Based on our current Shiba price prediction, it is expected that the price of Shiba will rise by 2.63%, reaching $0.00002247 by January 19, 2025. According to our technical indicators, the current sentiment is bearish, while the fear and greed index shows 74 (greed). Shiba recorded 15/30 (50%) green days in the past 30 days, with a price volatility of 8.71%. Based on Shiba predictions, now is not a good time to buy Shiba."