Shiba Inu is a well-known meme coin that has been making headlines for its recent price volatility. SHIB is positioning itself as a strong contender to compete head-on with the famous Dogecoin.

SHIB started the year trading below $0.000010 and subsequently experienced a surge of over 450%. It also reached a yearly peak of $0.000045 in mid-February. Despite the surge, the coin is still 73% below its all-time high from 2021. The recent price action indicates a renewed interest and positive sentiment in cryptocurrencies.

Currently trading at around $0.00002703, SHIB looks ready for the next potential price move after a period of consolidation. Given the high volatility in the market, we assess the possibility of SHIB hitting $0.0001 by May.

Shiba Inu Price Prediction for May

The price of Shiba Inu is currently trading at $0.00002705, having dropped by 2% in the past 24 hours. According to Changelly analysts, by May, SHIB is expected to trade at a minimum of $0.0000339 and a maximum of $0.0000786. Experts predict that the average trading price will be $0.0000562.

Shiba Inu has risen by 21.9% in the past 7 days and 1% in the past 30 days. SHIB has risen by 161.3% in the last year. During the positive market run in early 2024, SHIB even reached the $0.00004 level.

However, recent market conditions and analysis indicate that SHIB is unlikely to reach the $0.0001 level in May. The market is currently volatile, showing a mixed trend of both downward and upward trends. However, the price may develop in either direction, depending on market sentiment and other factors.