Shiba Inu Price Prediction: Will SHIB Surge to $0.000031 This Weekend?
Shiba Inu Coin (SHIB) is struggling to break through the critical barrier of $0.000025. Recently, SHIB has experienced a 2.3% correction on the daily chart, compared to a 2.4% correction in the previous week.
Nevertheless, over the past 14 days, SHIB’s price has increased by 0.5%, bringing the gain in the last month to 6.6%. Moreover, SHIB’s price has increased by 218.7% since June 2023.
The recent decline may be caused by concerns about the US economy. The inflation rate in the US remains above the Fed’s 2% target, causing traders to gradually fade expectations of a rate cut in early 2024.
However, market participants expect the Fed to cut interest rates in November, which may boost sentiment and drive prices back up.
Will Shiba Inu (SHIB) reach $0.000031?
Although SHIB has encountered resistance in breaking through the $0.000025 mark, many experts predict that the asset will soon reach new heights.
According to CoinCodex, SHIB may rise to $0.00003107 on Sunday, June 9, 2024, which is about 21.32% higher than the current price.
Telegaon is more conservative about the outlook for SHIB. The platform does not expect SHIB to hit a new all-time high this year, and its highest price in 2024 will reach $0.0000601.
