Gushiken Yona
While Shiba Inu, the world’s second-largest dog-themed altcoin by market capitalization, is down by over 6% on the day, it is predicted to surge by over 56% and reach $0.00003267 by mid-June, according to the latest forecast from a unique, non-custodial instant cryptocurrency exchange.
The bullish prediction from Changelly is supported by various technical indicators. Although the market sentiment for Shiba Inu is currently bearish at 38%, the Fear & Greed Index shows a score of 71, indicating a strong greed sentiment among investors. Over the past 30 days, Shiba Inu has experienced 12 green days out of 30, translating to a 40% success rate. Additionally, the price volatility stands at 6.51%, suggesting moderate price fluctuations
Shiba Inu’s technical indicators reveal a mixed outlook. The Fear-Greed Index, currently at 71, reflects a market driven by greed, which often precedes bullish trends. Despite the bearish sentiment, the relatively high percentage of green days and the notable volatility hint at underlying strength and potential for upward movement.
The anticipated surge has sparked renewed interest in the popular meme coin, with investors and enthusiasts eagerly watching for further developments. While the exact reasons behind the predicted price increase are not explicitly stated, several factors could be contributing to the positive outlook.
Firstly, the overall crypto market has been experiencing a period of growth, with Bitcoin ETFs gaining approval and numerous altcoins rallying. This positive market sentiment could be spilling over into the Shiba Inu ecosystem, driving up demand and price.
Secondly, Shiba Inu has been actively developing its ecosystem, with projects like Shibarium (a layer-2 scaling solution) and the Shiba Inu Metaverse in the works. These developments could be attracting new investors and boosting confidence in the long-term potential of SHIB.
Lastly, the strong community support behind Shiba Inu, often referred to as the “Shib Army,” plays a crucial role in driving awareness and demand. Their continued enthusiasm and engagement could be contributing to the upward price momentum.
While the bullish prediction is exciting, it’s important to remember that the crypto market is highly volatile, and predictions can be inaccurate. Investors should always conduct their own research and exercise caution before making any investment decisions.
At 2:00 p.m. ET, Shiba Inu experienced a dramatic surge in trading volume, reaching $382,349,540 within a 24-hour period, representing a 123% increase. However, despite the increased trading activity, the meme coin’s price dipped 6.23% in the past 24 hours, with further declines of 15.91% over the last seven days and 21.32% in the past 30 days, bringing its value to $0.00001958.
According to the latest data from CoinMarketCap, Shiba Inu’s circulating supply currently stands at 589,271,368,487,908 SHIB, with a market capitalization of $11,545,648,029. These figures highlight the significant volatility and potential risks associated with investing in this popular cryptocurrency.
Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.
The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
