Shiba Inu is trading around the $0.000015 mark on Thursday and is down nearly 8%. SHIB is seeing a drastic decline during the second half of 2024 and has already shed 36% in value in a month. The downward trajectory is making investors nervous about taking an entry position into the dog-themed token.
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While Shiba Inu was on the front foot during the first half of 2024, the second half remains to be unfriendly. It is trading on tougher terrains with little to no positive price spurts this quarter. Will SHIB turn the tides and rally in the charts in 2024? In this article, we will highlight how high or low SHIB will trade this year in 2024.
Shiba Inu: How High Will SHIB Trade in 2024?
Leading on-chain metrics and price prediction firm Coinpedia has painted a bullish picture for Shiba Inu in 2024. According to the price prediction, SHIB is bottoming out in the indices and the best time to accumulate the token is now. The forecast suggests that the lowest SHIB could reach in 2024 is the range of 0.000010, which is its current value.
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The price prediction estimates that Shiba Inu could only rise from here and reach an average trading price of $0.000038. That’s an uptick of nearly 280% from its current price. The prediction also forecasts that SHIB will reach a yearly high of $0.00006697 in 2024. That’s a phenomenal rise if the forecast turns accurate in the second half of the year.
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If Shiba Inu reaches $0.00006697 as predicted, it will rise 580% in the next few months of 2024. An investment of $1,000 could turn into $6,800 if the forecast turns accurate. Moreover, the cryptocurrency market is volatile and there’s no guarantee that SHIB could spike 580% in the remaining months of 2024.
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