Shiba Inu is yet to make a positive move in the cryptocurrency universe. The token has long been showing a slow price pace, sitting at a price threshold of $0.00001626, unable to move past the critical juncture. However, with new updates and moves ushering in, Shib is now seeking a new price milestone. Will it be possible to achieve it this weekend? Let’s find out.
Also Read: Ripple: XRP Surges, Beats Bitcoin, Ethereum, And SOL On Major Exchanges
Shiba Inu Whales Are On The Move
With SHIB encountering low price thresholds, the Shiba Inu Whales are on the move, scooping up the token in large quantities. Per the new details, a whale has bought nearly $2.7 million SHIB tokens worth $48.3 million, causing a slight uptick in SHIB’s price. Due to this, the token surged briefly to the $0.000021 price level, but is now down by 4%, sitting at $0.000016.
Similarly, the stellar burn mechanism designed for the token is also consistently working towards stabilizing SHIB. With the recent WazirX hack, the token is yet again moving at a low price.
Shiba Inu Price Forecast: When Will SHIB Recover?
According to Changelly, Shiba Inu’s weekend price forecasts look particularly positive. The token may surge to trade at the $0.00003441 level by July 27, 2024. The weekend is ushering in a new price pump for Shib, helping the token spike to nearly 97% in the process.
At the same time, the token is predicted to surge and trade at a nominal price level of $0.0000276 by the end of July.
Also Read: 10 ASEAN Countries Ready To Ditch The US Dollar For Trade
“Crypto experts have analyzed Shiba Inu prices in 2024, so they are ready to provide their estimated trading average for July 2024—$0.0000276. The lowest and peak SHIB rates might be $0.0000173 and $0.0000380.”
Similarly, with August approaching quickly, the token may surge to claim a new level. Changelly adds that SHIB may trade at $0.0000217 in August 2024.
“Crypto analysts expect that at the end of summer 2024, the SHIB price will be around $0.0000217. In August 2024, the Shiba Inu cost may drop to a minimum of $0.0000162. The expected peak value might be $0.0000272 in August 2024.”
Credit: Source link
