05 Jun

Like many other assets in the cryptocurrency market, Shiba Inu (SHIB) is experiencing significant upward movement, with a nearly 9% increase in price over the past 24 hours. AI and machine learning algorithms anticipate further gains.

Shiba Inu is rebounding from its recent underperformance, aiming to make this year exceptionally successful. With gains of almost 150% already, it is propelled by positive developments like a remarkable surge in new accounts on Shibarium.

SHIB price forecast

How high will Shiba Inu reach, then? According to the most current forecasts received, SHIB could reach the price of $0.000029 by June 30, 2024, based on the sophisticated algorithms used by the crypto analytics and forecasting portal PricePredictions.

These forecasts, which are based on technical analysis (TA) indicators such as the moving average convergence divergence (MACD), relative strength index (RSI), and others, would indicate a rise in Shiba Inu prices of 12.45% if they materialize.

As of right now, SHIB is trading at $0.00002579, indicating a gain of 8.28% over the previous day and a recovery from the 5.69% loss over the previous seven days, contributing to the 4.10% gain seen on its monthly chart.

The surge in Shiba Inu's value is closely correlated with a notable uptick in activity on its blockchain platform, Shibarium. Over the span of just 24 hours, the number of new accounts on Shibarium skyrocketed by 3,336.67%, from 30 to 1,031.

Additionally, DaVinci Jeremie, an early Bitcoin adopter and cryptocurrency trading expert, has recently expressed optimism about Shiba Inu's future, predicting a rally in its price. He suggests that SHIB could reach $0.00006, marking a 132.65% increase from its current levels.

Considering these factors, there's a possibility for SHIB to achieve the projected price by the end of the month, assuming the positive sentiment persists. However, it's essential to remain cautious and stay informed about any developments or trends in the Shiba Inu ecosystem, as the cryptocurrency market can be unpredictable. 

June 2024, Cryptoniteuae

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