Shiba Inu (SHIB) has struggled to gain momentum after rising in March. Despite its popularity, SHIB's price has gradually declined since its peak in March. Nonetheless, the asset appears to have seen some positive price movement in the past few days. The popular dog-themed cryptocurrency is up 5.1% on the 14-day chart and 1.8% over the last month. Moreover, SHIB's price has risen nearly 162% since May 2023.
Moreover, Shiba Inu (SHIB) is likely to continue its bullish trajectory in the coming weeks. According to X user Javon Marks, SHIB is in a lull and is preparing for a massive bull run. Marks expects SHIB to rise by more than 280% and touch $0.000088598, which would also be a new all-time high.
Will Shiba Inu (SHIB) hit a new all-time high?
Max is not the only one predicting a bullish trajectory for SHIB. According to CoinCodex, SHIB will start to rebound in the coming weeks. The platform predicts that SHIB will reach $0.00007726 on June 11, 2024. Reaching $0.00007726 from current levels would result in a growth of about 233.4%.
Changelly also paints a bullish outlook for Shiba Inu (SHIB) in the coming weeks. The platform expects the dog-themed cryptocurrency to reach $0.00007825 on June 11, 2024, which would represent an increase of nearly 238% from current levels.
However, there is also a chance that SHIB could consolidate at current levels. The cryptocurrency market has been somewhat sluggish over the past few days. Macroeconomic factors such as inflation and weakening expectations of rate cuts have heightened investor concerns, leading to reduced inflows into risky assets. This narrative could soon change when inflation cools and global geopolitical tensions ease.
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