The Shiba Inu token celebrated its fourth birthday this month after launching on August 1, 2020. It turned a handful of early investors into millionaires in a short period of time and outperformed all leading cryptocurrencies between 2020 and 2021. SHIB has survived the cryptocurrency market for four years and has many more years to come.
The dog-themed token is currently trading at around $0.000015 and is trending mostly down in the charts. It has fallen by nearly 10% over the past 14 days, with the index barely registering a price surge. This development is testing the patience of investors as they hold onto the Shiba Inu in hopes of making a profit. In this article, we will explain how high or low the Shiba Inu could trade in its birthday month of August 2024.
Price prediction for Shiba Inu in August 2024, birthday month
CoinCodex, a leading on-chain metric and price prediction company, has painted a pessimistic picture for Shiba Inu in August 2024. According to the price prediction, the chances of SHIB turning to the red are greater than the chances of remaining on the green side. The price prediction estimates that SHIB could drop by more than 3% by the end of August 2024.
Therefore, a $1,000 investment could turn into $970 if the prediction is accurate. This means a loss of $30 in 30 days, which could cause an investor's portfolio to become negative. It is recommended to be cautious before entering the market in August 2024, Shiba Inu's birthday month.
At press time, SHIB is trading at $0.00001588, down nearly 4% in 24-hour trading. SHIB is also down nearly 82% from its all-time high of $0.00008616 set in October 2021. It’s been three years since the dog-themed token regained its former glory.
