Shiba Inu has achieved remarkable success in its four-year history. The project has attracted a seemingly ever-increasing number of loyal fans each year. The popularity of SHIB surged during the 2021 bull run when its price skyrocketed by millions of percent. Since the peak in 2021, SHIB's price has somewhat struggled to regain upward momentum, becoming a victim of overall pessimism over the past two years.
Current Price Volatility of Shiba Inu
The cryptocurrency market has faced a significant correction over the past week. SHIB's price is trending downward. The asset is down 3.9% on the daily chart, 7.7% on the weekly chart, 24.4% on the 14-day chart, and 11.8% compared to last month. Despite the decline, SHIB has maintained gains over the past year. This dog-themed cryptocurrency has increased by 108.5% since December 2023.
The current decline of SHIB may be due to the Federal Reserve announcing two interest rate cuts in 2025 instead of three. Inflation in the United States has also risen to 2.7%. A hawkish stance may have caused investors to steer clear of risky assets.
When will Memecoin reach $0.00005?
SHIB last traded above $0.00005 in November 2021, more than three years ago. The asset must rise 125.53% from its current price to reach $0.00005.
According to Changelly, Shiba Inu (SHIB) will surpass $0.00005 by 2025. This platform predicts the asset's price will reach a maximum price of $0.000059994 next year.
Telegaon analysts predict SHIB will reach a price of $0.00005 this year. Telegaon's forecast has yet to materialize. This platform predicts that this dog-themed cryptocurrency will trade at a potential maximum price of $0.0000728 by 2025.
There is a possibility that SHIB will rise above $0.00005 by 2025. President-elect Donald Trump is expected to be quite lenient towards the cryptocurrency industry. This development could lead to the asset reaching new heights.
DYOR!#Write2Win #Write&Earn $SHIB