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Will Shiba Inu (SHIB) reach $0.000031?

Will Shiba Inu (SHIB) reach $0.000031?

Shiba Inu (SHIB) is working to overcome the $0.000025 barrier. The asset faced a 2.3% correction in the daily chart and a 2.4% correction from last week. However, SHIB was up 0.5% on the 14-day chart and 6.6% over the previous month. Furthermore, SHIB price has increased by 218.7% since June 2023.

The latest decline may be due to concerns about the US economy. Inflation in the US continues to remain above the Federal Reserve’s 2% target. Traders’ expectations for an interest rate cut in early 2024 have faded. However, market participants predict a rate cut in November, which could lead to increased sentiment.

Will Shiba Inu (SHIB) reach $0.000031?

Although SHIB is struggling to overcome the $0.000025 barrier, many analysts predict the asset will reach new highs soon.

According to CoinCodex, SHIB could rise to 0.00003107 USD by Sunday, June 9, 2024, an increase of about 21.32% from current levels. Furthermore, the platform predicts SHIB to reach a new all-time high of 0.00008723 USD on July 3, 2024. Reaching 0.00008723 USD from current levels would result in a growth of around 240, 6%.

Changelly also paints an optimistic picture for Shiba Inu (SHIB) over the next few weeks. The platform predicts SHIB to breach the $0.00003 level this week, reaching $0.00003105 on Sunday, June 9, 2024. Furthermore, the platform predicts SHIB to reach a new high of 0.00008766 USD on July 3, 2024.

On the other hand, Telegaon does not expect SHIB to hit a new all-time high this year. The platform predicts SHIB will reach a maximum price of 0.0000601 USD in 2024.

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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