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30 May 2024
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Ethereum

Shiba Inu (SHIB) Predicted to Rally 240%: Here’s When

Shiba Inu (SHIB) has been among the best-performing assets of the last four years. From its launch in August 2020 to its all-time high in October 2021, SHIB’s price rallied by many million percent. The feat solidified SHIB’s name as a millionaire-maker. However, the popular dog-themed cryptocurrency’s price has struggled since its 2021 peak.

Despite its lackluster performance in 2022 and 2023, Shiba Inu (SHIB) fans might be in for a treat this year. According to CoinCodex, SHIB’s price could surge to $0.00008009 on June 11, 2024. Hitting $0.00008009 from current levels would translate to a growth of nearly 240%.

Source: CoinCodex

Also Read: Shiba Inu: Machine Learning AI Predicts SHIB’s Price for May 15

Changelly also paints a bullish picture for Shiba Inu (SHIB) over the next few weeks. The platform predicts SHIB to hit $0.00007734 on June 8. 2024. Hitting $0.00007734 from current levels would translate to a growth of about 227.5%.

When will Shiba Inu (SHIB) reclaim its all-time high

shiba inu cryptocurrency coin
Source: Unsplash

SHIB hit its all-time high of $0.00008616 on October 28, 2021, a few days before Bitcoin (BTC) and Ethereum (ETH) hit their respective highs. SHIB’s price has since fallen by nearly 73%. While Bitcoin (BTC) hit a new all-time high earlier this year, other altcoins are not showing any signs of hitting a new peak anytime soon. However, SHIB is predicted to hit $0.00008009 in June. If the asset can hold this level, the rally may continue until SHIB hits a new all-time high.

Also Read: VanEck Launched Index To Monitor Meme Coins Like Shiba Inu, Dogecoin

Moreover, there is a possibility of a spot Ethereum (ETH) ETF (Exchange Traded Fund) being approved by the SEC (Securities and Exchange Commission), which could trigger a market-wide rally, leading to many assets hitting new all-time highs. Such a development could aid Shiba Inu (SHIB) in reclaiming its 2021 peak.

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