๐ฅ SHIB Price Prediction: December 1, 2024 ๐ฅ
๐ Current Market Trends:
The cryptocurrency market faces a 2.9% dip, reducing the global market cap to $3.35 trillion.
Bitcoin (BTC) recently dropped below $93,000, leading to a correction across altcoins like Shiba Inu (SHIB).
SHIB recorded:
2.3% daily correction
0.9% dip in the past 14 days
Despite this, SHIB is still up 1.7% weekly, 44.49% monthly, and an impressive 198.4% since late November 2023!
๐ก Why Is the Crypto Market Down?
The dip may be linked to profit-taking after BTC's all-time high of $99,645.39 on Nov. 22, 2024.
Expert Insight: Columbia Business Schoolโs Omid Malekan highlights that bull markets tend to be more volatile than bear markets.
๐ SHIB Price Predictions for Dec. 1, 2024:
1. CoinCodex Forecast:
Projected Price: $0.00005094
Potential Rally: +107.07%
Note: SHIB may briefly peak but could correct back to current levels by mid-December 2024.
2. Changelly Outlook:
Projected Price: $0.0000492
Potential Rally: +100%
Similar to CoinCodex, a correction toward current levels is anticipated in mid-December.
๐ญ What Does This Mean for SHIB?
Short-term optimism remains high, with both platforms predicting significant price spikes by early December.
However, market corrections suggest traders should approach with caution.
๐ Stay tuned for updates as the crypto market evolves!
