Shiba Inu, SHIB could hit $0.00004 in 2024
Shiba Inu’s price prediction for the most bearish scenario will value SHIB at $0.000012 in 2024.
Shiba Inu’s previous All Time High was on 28 October 2021 where SHIB was priced at $0.000086.
Shiba Inu’s price at the same time last week was $0.000016. It has moved by 22.05 % in the past week and is currently at $0.000016. Infact, in the past 24 hours, SHIB has dumped by -2.17 %. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and SHIB could hit $0.00008 in 2025.
The total circulating supply of Shiba Inu as of writing this article was $589261855862366.38 and the marketcap of SHIB remains at $9,467,474,764
SHIB price prediction: Key highlights
1. Primary support and resistance levels
In the weekly time frame, SHIB established its lowest support level at $0.000007. Its highest resistance level is likely to be $0.000053.
2. Market sentiment
The conditions in July 2024 suggest that the SHIB market is bearish.
3. Predictive forecasts
Based on predictions from our AI/ML models, the average price of SHIB is expected to reach $0.001 in 2029 and increase to $0.01 in 2033.
Get valuable insights on SHIB via a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:
SHIB technical analysis: Can the memecoin recover its losses?
An analysis of the SHIB’s weekly chart revealed significant fluctuations in price movement, offering insights into potential future trends and Shiba Inu price prediction for 2024. Initially, the token rallied to challenge $0.000010. The failure to overcome this level in August led to a decline to the lowest support at $0.000007 by September.
After a momentary fall below the low floor in October, the bulls initiated another recovery attempt mid-month. The price challenged the previous level once more in December.
The beginning of the new year did not immediately bring about a change in fortune for the memecoin. It struggled against the same level, only to face another setback. Yet, SHIB didn't fall to previous lows.
A turning point was observed towards the end of February when a significant price surge enabled the token to overcome this long-standing barrier. This breakthrough was not isolated, as many altcoins, including SHIB, followed Bitcoin's (BTC) higher trending price movements.
Continuing its upward trajectory into March, the token established $0.000032 as its new highest resistance level while reclaiming $0.000022 as support. This development was particularly significant, as the level had not been overcome since Q2 2022.
SHIB stood out as one of the cryptocurrency market's top performers, boasting substantial gains. However, this streak was interrupted as the broader market crashed. The dog-themed token underwent a correction in April after being deemed overbought.
The following descent caused SHIB to retrace its steps below $0.000026. Bullish attempts to reclaim this level remained unsuccessful. Consequently, the token was bound within a two-month range formation between this resistance and $0.000022.
Furthermore, a breakdown in mid-June flipped the latter bearishly, preceding further drops. AMBCrypto reported the decline in the market negatively influenced investor sentiment, as indicated by the decreasing difference between investors who were profiting and those who were incurring losses.
By the onset of July, the token had landed on $0.000014. As the analysis concluded, it was trading at $0.000016. AMBCrypto’s recent analysis suggested that Shiba Inu may experience significant double-digit percentage losses in the coming weeks. Consequently, the memecoin's value could drop to $0.000010 or even lower.
For bulls to gain an edge, they must flip the market structure to bullish by decisively reclaiming the $0.000026 level. Should the bulls succeed, the immediate target would be $0.000032. Afterward, $0.000053 can be pointed as a barrier for further upside.
Our prediction models support a moderate yet growing bullish sentiment. They forecast the token's average trading price to rise as high as $0.001 in 2029 and to $0.01 by 2033.
SHIB's 2024 roadmap: Key indicators to watch and trade
SHIB’s trading volume remained lackluster for most of the observed period. A notable increase in volume was observed during the late February surge, with a peak volume of 355.715 trillion recorded in March.
The recent drop in the token’s value was mirrored in the volume dynamics. This pattern reflected a re-evaluation of the token's value by the market as traders reduced positions.
The On-Balance Volume (OBV) remained relatively flat until mid-February, with alternating ups and downs. Additionally, a sharp spike followed this.
From March, the OBV reversed its trajectory and dropped. After a brief rise in May, it resumed its southbound trajectory. At the time of writing, it registered at 1595.367 trillion, suggesting a dominant selling pressure.
The Awesome Oscillator (AO) turned positive in late November. From the end of February, the AO's positive values rose significantly. However, this momentum waned in April, culminating in the indicator dropping below the zero line by July. At press time, it stood at -0.00000009, which indicated a reversal to bearish conditions.
Shiba Inu Price Prediction
Shiba Inu has had an eventful 2023. To simplify the latest SHIB price prediction, we have divided up the prediction by short term Shiba Inu price prediction and long term Shiba Inu price prediction. As of writing this article, SHIB had a trading volume of 220,632,000. Shiba Inu has gone down by -26.70% in the past 30 days.
According to our analysis in the short term, Shiba Inu price prediction for September 2024 shows the average price of SHIB at 0.000027 and the highest possible price for September 2024 would be $0.000029.
Further, according to our analysis in the long term, Shiba Inu price prediction for January 2025 shows the average price of SHIB at 0.000033 and the highest possible price for January 2025 would be $0.000035.
Shiba Inu price prediction 12 July 2024: Shiba Inu's price for 12 July 2024 according to our analysis should range between $0.000014 to $0.000016 and the average price of SHIB should be around $0.000015.
Shiba Inu price prediction 13 July 2024: Shiba Inu's price for 13 July 2024 according to our analysis should range between $0.000013 to $0.000016 and the average price of SHIB should be around $0.000015.
Shiba Inu price prediction 14 July 2024: Shiba Inu's price for 14 July 2024 according to our analysis should range between $0.000014 to $0.000016 and the average price of SHIB should be around $0.000015.
Shiba Inu price prediction 15 July 2024: Shiba Inu's price for 15 July 2024 according to our analysis should range between $0.000014 to $0.000016 and the average price of SHIB should be around $0.000015.
Shiba Inu price prediction 20 July 2024: Shiba Inu's price for 20 July 2024 according to our analysis should range between $0.000013 to $0.000015 and the average price of SHIB should be around $0.000014.
Shiba Inu price prediction 25 July 2024: Shiba Inu's price for 25 July 2024 according to our analysis should range between $0.000012 to $0.000014 and the average price of SHIB should be around $0.000013.
Shiba Inu price prediction 4 August 2024: Shiba Inu's price for 4 August 2024 according to our analysis should range between $0.00001 to $0.000012 and the average price of SHIB should be around $0.000011.
Shiba Inu price prediction September 2024: Shiba Inu's price for September 2024 according to our analysis should range between $0.000025 to $0.000029 and the average price of SHIB should be around $0.000027.
Shiba Inu price prediction October 2024: Shiba Inu's price for October 2024 according to our analysis should range between $0.000027 to $0.000031 and the average price of SHIB should be around $0.000029.
Shiba Inu price prediction November 2024: Shiba Inu's price for November 2024 according to our analysis should range between $0.000028 to $0.000032 and the average price of SHIB should be around $0.00003.
Shiba Inu price prediction December 2024: Shiba Inu's price for December 2024 according to our analysis should range between $0.000029 to $0.000034 and the average price of SHIB should be around $0.000032.
Shiba Inu's Long Term Price Prediction
Shiba Inu’s long term Price Prediction below is a look at SHIB’s future prospect with regards to price. Shiba Inu was last seen at $0.000016, with a market cap of $9,467,474,764 and trading volumes of $220,632,000. SHIB’s price prediction is possible by analyzing historical price action, current developments and social sentiment from the community.
Shiba Inu price prediction 2024: Shiba Inu's price for 2024 according to our analysis should range between $0.000026 to $0.00004 and the average price of SHIB should be around $0.000033.
Shiba Inu price prediction 2025: Shiba Inu's price for 2025 according to our analysis should range between $0.000053 to $0.00008 and the average price of SHIB should be around $0.000067.
Shiba Inu price prediction 2026: Shiba Inu's price for 2026 according to our analysis should range between $0.0001 to $0.00016 and the average price of SHIB should be around $0.00013.
Shiba Inu price prediction 2027: Shiba Inu's price for 2027 according to our analysis should range between $0.00021 to $0.00032 and the average price of SHIB should be around $0.00026.
Shiba Inu price prediction 2028: Shiba Inu's price for 2028 according to our analysis should range between $0.00043 to $0.00064 and the average price of SHIB should be around $0.00053.
Shiba Inu price prediction 2029: Shiba Inu's price for 2029 according to our analysis should range between $0.00086 to $0.0012 and the average price of SHIB should be around $0.001.
Shiba Inu price prediction 2030: Shiba Inu's price for 2030 according to our analysis should range between $0.0017 to $0.0025 and the average price of SHIB should be around $0.0021.
Shiba Inu price prediction 2031: Shiba Inu's price for 2031 according to our analysis should range between $0.0034 to $0.0052 and the average price of SHIB should be around $0.0043.
Shiba Inu price prediction 2032: Shiba Inu's price for 2032 according to our analysis should range between $0.0069 to $0.01 and the average price of SHIB should be around $0.0086.
Shiba Inu price prediction 2033: Shiba Inu's price for 2033 according to our analysis should range between $0.013 to $0.02 and the average price of SHIB should be around $0.017.
Shiba Inu price prediction 2035: Shiba Inu's price for 2035 according to our analysis should range between $0.055 to $0.083 and the average price of SHIB should be around $0.069.
