Shiba Inu, SHIB could hit $0.000062 in 2024
Shiba Inu’s price prediction for the most bearish scenario will value SHIB at $0.00002 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 $0.000024. It has moved by 0.94 % in the past week and is currently at $0.000025. Infact, in the past 24 hours, SHIB has dumped by -0.44 %. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and SHIB could hit $0.00012 in 2025.
The total circulating supply of Shiba Inu as of writing this article was $589262931544749.50 and the marketcap of SHIB remains at $14,902,790,100
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 market conditions in May 2024 suggest that SHIB bulls have been getting weak.
3. Predictive forecasts
Based on predictions from our AI/ML models, the average price of SHIB is expected to reach $0.002 in 2029 and increase to $0.1 in 2035.
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: Market at crossroads as bulls strive to retain dominance
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 faced considerable selling pressure, which triggered a downward trajectory.
This momentum caused a brief breach of the lowest support at $0.000007 in June. Despite these challenges, the bulls reclaimed this level shortly. Nonetheless, their success was short-lived as the price failed to overcome $0.000010 in August, leading to another period of decline back to the lowest support by September.
After a momentary fall below the low support the next month, an interesting pattern emerged as the bulls initiated another recovery attempt in mid-October. The price challenged the resistance once more in December.
The beginning of the new year did not immediately bring about a change in fortune for the memecoin. It continued to struggle 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, often follow Bitcoin's (BTC) price movements, which were trending higher.
Continuing its upward trajectory into March, the token established $0.000032 as its new highest resistance level while reclaiming $0.000020 as support. This development was particularly significant, as this level had not been overcome since May 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 $0.000027. Bullish attempts to reclaim this level remained unsuccessful. As the analysis concluded, the buyers were holding on to the current support, with the token trading closely at $0.000023.
Despite the downturn, selling pressure on SHIB has not been intense over the past six weeks. However, the outlook for the memecoin remains uncertain unless BTC can initiate an uptrend.
In the shorter time frame, AMBCrypto pointed to $0.000027 as a crucial sell wall. Moreover, weak buying pressure and low capital inflows could complicate SHIB's recovery at this resistance. For bulls to gain an edge, they must flip the market structure to bullish by decisively reclaiming the $0.000027 level. Should the bulls succeed, the immediate target would be $0.000031.
Contrastingly, AMBCrypto's analysis of Hyblock Capital’s data indicated that SHIB's price drop to $0.000020 can lead to a sharp rise in liquidations. If the price falls below this level, it could be disastrous for the memecoin, potentially plummeting to $0.000015.
Our prediction models support a moderate yet growing bullish sentiment, forecasting the token's average trading price to rise as high as $0.002 in 2029. The projections also suggest an increase in the token's average trading price to $0.1 by the year 2035.
SHIB's 2024 roadmap: Key indicators to watch and trade
The trading volume of SHIB 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 or waited for new developments.
The On-Balance Volume (OBV) began to ascend slightly in June. It then faced a downturn from August to October before resuming its ascent.
Between December and mid-February, the indicator showed flat momentum. This was succeeded by a sharp spike, with the OBV peaking at 1782.855 trillion. Afterward, the OBV reversed its trajectory and dropped. At the time of writing, it slightly flatlined to register at 1576.562 trillion, suggesting stabilization in the balance of buying and selling volumes.
The Awesome Oscillator (AO) started below the zero line and turned positive towards the end of November, suggesting a shift towards buying momentum.
Towards the end of February, the AO's positive values rose significantly. However, this momentum waned in April. This brought the indicator close to zero at 0.00000938, indicating a decrease in bullish strength.
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 233,463,700. Shiba Inu has gone up by 10.74% in the past 30 days.
According to our analysis in the short term, Shiba Inu price prediction for August 2024 shows the average price of SHIB at 0.000041 and the highest possible price for August 2024 would be $0.000043.
Further, according to our analysis in the long term, Shiba Inu price prediction for December 2024 shows the average price of SHIB at 0.00005 and the highest possible price for December 2024 would be $0.000053.
Shiba Inu's Short Term Price Prediction
Shiba Inu price prediction 4 June 2024: Shiba Inu's price for 4 June 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 5 June 2024: Shiba Inu's price for 5 June 2024 according to our analysis should range between $0.000025 to $0.000028 and the average price of SHIB should be around $0.000026.
Shiba Inu price prediction 10 June 2024: Shiba Inu's price for 10 June 2024 according to our analysis should range between $0.000026 to $0.00003 and the average price of SHIB should be around $0.000028.
Shiba Inu price prediction 15 June 2024: Shiba Inu's price for 15 June 2024 according to our analysis should range between $0.000028 to $0.000033 and the average price of SHIB should be around $0.00003.
Shiba Inu price prediction 25 June 2024: Shiba Inu's price for 25 June 2024 according to our analysis should range between $0.000032 to $0.000037 and the average price of SHIB should be around $0.000034.
Shiba Inu price prediction July 2024: Shiba Inu's price for July 2024 according to our analysis should range between $0.000036 to $0.000041 and the average price of SHIB should be around $0.000038.
Shiba Inu price prediction August 2024: Shiba Inu's price for August 2024 according to our analysis should range between $0.000038 to $0.000043 and the average price of SHIB should be around $0.000041.
Shiba Inu price prediction September 2024: Shiba Inu's price for September 2024 according to our analysis should range between $0.00004 to $0.000046 and the average price of SHIB should be around $0.000043.
Shiba Inu price prediction October 2024: Shiba Inu's price for October 2024 according to our analysis should range between $0.000042 to $0.000048 and the average price of SHIB should be around $0.000045.
Shiba Inu price prediction November 2024: Shiba Inu's price for November 2024 according to our analysis should range between $0.000044 to $0.000051 and the average price of SHIB should be around $0.000047.
Shiba Inu price prediction December 2024: Shiba Inu's price for December 2024 according to our analysis should range between $0.000046 to $0.000053 and the average price of SHIB should be around $0.00005.
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 $0.000025, with a market cap of $14,902,790,100 and trading volumes of $233,463,700. 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 $0.000041 to $0.000062 and the average price of SHIB should be around $0.000052.
Shiba Inu price prediction 2025: Shiba Inu's price for 2025 according to our analysis should range between $0.000086 to $0.00012 and the average price of SHIB should be around $0.0001.
Shiba Inu price prediction 2026: Shiba Inu's price for 2026 according to our analysis should range between $0.00017 to $0.00026 and the average price of SHIB should be around $0.00022.
Shiba Inu price prediction 2027: Shiba Inu's price for 2027 according to our analysis should range between $0.00036 to $0.00055 and the average price of SHIB should be around $0.00046.
Shiba Inu price prediction 2028: Shiba Inu's price for 2028 according to our analysis should range between $0.00076 to $0.0011 and the average price of SHIB should be around $0.00095.
Shiba Inu price prediction 2029: Shiba Inu's price for 2029 according to our analysis should range between $0.0015 to $0.0023 and the average price of SHIB should be around $0.0019.
Shiba Inu price prediction 2030: Shiba Inu's price for 2030 according to our analysis should range between $0.0032 to $0.0048 and the average price of SHIB should be around $0.004.
Shiba Inu price prediction 2031: Shiba Inu's price for 2031 according to our analysis should range between $0.0067 to $0.01 and the average price of SHIB should be around $0.0083.
Shiba Inu price prediction 2032: Shiba Inu's price for 2032 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 2033: Shiba Inu's price for 2033 according to our analysis should range between $0.028 to $0.042 and the average price of SHIB should be around $0.035.
Shiba Inu price prediction 2035: Shiba Inu's price for 2035 according to our analysis should range between $0.12 to $0.18 and the average price of SHIB should be around $0.15.
