1.3T Shiba Inu moved in 24 hours, will SHIB price rise this week?
The recent drop may be because Bitcoin (BTC) fell below $65,000. Investors' concerns about the Mt. Gox compensation plan and the recent transfer of more than $2 billion worth of BTC by the US government have intensified.
Shiba Inu is very sensitive to market changes and usually follows the rise and fall of Bitcoin. As the price of Bitcoin fell again, SHIB followed closely, triggering a potential wave of transactions recently.
The overall bearish outlook of the cryptocurrency market may also hinder the possibility of SHIB price increases. The asset has struggled to gain momentum since the price of the asset hit $0.000036 after BTC hit an all-time high in March.
The price of SHIB may climb to $0.00003465 on August 6, 2024. Reaching $0.00003465 from the current level would mean an increase of more than 119%. CoinCodex researchers do not expect SHIB's price to remain at $0.000034 and predict a pullback to current levels soon.
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Going into this week, SHIB's price predictions are generally positive. While the asset has not risen sharply, it has not fallen sharply either. This may sound like a very safe message, however, SHIB will only soar if the SHIB team or Bitcoin makes a major breakthrough. At present, SHIB's stability is its best ability.
