Shiba Inu (SHIB) price has attracted attention with recent fluctuations. The WazirX hack incident and Bitcoin's failure to surpass $65,000 led to a significant decline in the value of SHIB. However, technical analysis platforms CoinCodex and Changelly predict that SHIB may experience a significant rise in the short term.
Shiba Inu has become one of the most talked about phenomena in the cryptocurrency world. This token, known as the symbol of meme culture, experienced a serious price drop as Bitcoin failed to exceed $65,000. Currently trading around $0.000016, does SHIB have the potential to enter a new uptrend? Technical analysis gives a positive answer to this question.
Shiba Inu's Rise Prospects
The recent WazirX hack incident has negatively affected the performance of Shiba Inu. Following this incident, the token is trading at low levels and has difficulty reaching new highs. However, technical analysis platforms Changelly and CoinCodex make more optimistic predictions about the future of SHIB.
According to data from CoinCodex, it is predicted that Shiba Inu may rise to $0.00002708 as of August 6. This forecast is based on analysis of positive and negative trends over the last 30 days. If this prediction comes true, SHIB price may increase by 60.99%.
Additionally, the knowledge that the US government holds approximately 54 billion Shiba Inu tokens in its portfolio could have a significant impact on the future of SHIB. Such developments increase the likelihood that SHIB will reach new highs in the short term.
Big 120% Increase at the End of the Year: When Will It Come?
CoinCodex predicts a massive 120% increase for SHIB by the end of the year. It is stated that the token can rise up to 0.00003695 dollars. According to CoinCodex, âThe price of Shiba Inu can fluctuate between $0.00001410 and $0.00003695. If the price reaches the upper limit of $0.00003695, SHIB will increase by 119.59%.â
On the other hand, according to Changelly's predictions, meme coin may reach $ 0.00003 by the end of August 2024. âCrypto analysts predict that the price of SHIB will be around $0.0000269 by the end of summer. âIn August, the price is expected to drop to a minimum of $0.0000161 and rise to a maximum of $0.0000377.â
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