Shiba Inu is currently trading at the $0.000027 level on Wednesday and remains in the red for three consecutive days. SHIB rallied 280% in March this year but is now shedding all its gains this month in April. Despite the downward trajectory, investments are pouring in on the token with investors from around the world. In the latest update, SHIB wallets hit a new milestone of 4 million wallets making it among the most sought-after cryptocurrency in the market.
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Now that the wallet addresses are rapidly rising, can this development push Shiba Inu to reach a new monthly high? A new price prediction indicates that SHIB could regain lost ground and surge in the charts in the coming days. In this article, we will highlight the latest price prediction on how high SHIB could trade in the indices.
Shiba Inu: New Prediction Estimates SHIB To Surge in Price By 150%
Leading on-chain metrics and price prediction firm CoinCodex has painted a rosy picture for Shiba Inu. According to the price prediction, SHIB could spike by another 150% and reach a new monthly high in the coming weeks.
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The latest price prediction forecasts Shiba Inu to reach a high of $0.00006983 on May 1, 2024. That’s a spike of approximately 150% from its current price of $0.000027. Therefore, an investment of $10,000 could turn into $25,000 if the price prediction turns out to be accurate.
The surge in price could come after the Bitcoin halving event, which is scheduled to take place on April 21, 2024. The Bitcoin halving event will cut BTC’s supply in half making the cryptocurrency scarcely available in the market.
Also Read: Shiba Inu: $4,400 Investment Turns Into $172 Million in April 2024
Since Bitcoin has demand, the limited availability will make BTC sustainably scale up in the charts. Moreover, Shiba Inu moves in tandem with BTC and, therefore, has more chances of rallying in the coming days.
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