SHIB Price Prediction: Will Shiba Inu Rise by 109.18% and Hit $0.000052 by Nov 27, 2024?

SHIB price is expected to rise by 109.18% in the next 5 days according to our Shiba Inu price prediction. SHIB is trading at $0.000025 after gaining 3.08% in the last 24 hours.

Shiba Inu (SHIB) price is set to increase by 109.18% and reach a price of $0.000052 by Nov 27, 2024, a prediction made by Gov Capital.

According to their analysis, SHIB is currently trading at $0.000025, which would mean that the token would need to rise by 109.18% in the next 5 days to reach Gov Capital’s price target.

However, it is important to note that Gov Capital’s SHIB price prediction is based on an algorithm and past performance, and should not be taken as financial advice. Cryptocurrency markets are known to be highly volatile, and even the largest crypto assets, such as Bitcoin and Ethereum, can display a lot of price volatility.

For instance, SHIB price has seen a massive increase of 212.15% in the past year, and is also up by 43.50% in the last 30 days. The token has outperformed the total crypto market cap, which increased by 4.04% in the last 24 hours, and is also outperforming BTC today with a 1.68% gain against the world’s largest cryptocurrency.

Moreover, SHIB markets are currently displaying bullish sentiment, which is also supported by the Fear & Greed index, which is reading Extreme Greed. The key support levels to watch are $0.000024, $0.000022 and $0.000021, while $0.000026, $0.000027 and $0.000028 are the resistance levels.

As reported, SHIB price performed well in 2023, and the token was among the top gainers in the top 100 cryptocurrencies by market capitalization. SHIB also outperformed Bitcoin and Dogecoin in the last 3 months, as both tokens saw a decrease in their price, while SHIB increased by 57.74%.

Shiba Inu also managed to stay in the green zone for the majority of 2023, despite the bear market and the crypto winter, which began in early 2022 and saw the total crypto market cap decrease from its all-time high of $3 trillion.

However, SHIB price also saw some turbulence in 2023, and the token dropped by 8.3% in early February after SHIB lead developer Shytoshi Kusama announced that they would be taking a break from the SHIB community.

Despite the bearish crypto market and the turbulence in 2023, SHIB managed to post gains and begin 2023 with a price of $0.000009.