Price Prediction for Shiba Inu (SHIB)

Shiba Inu is one of the most well-known memecoins and has climbed up to 10% in the weekly charts. The price of the token has risen drastically since October 2023, after having a difficult year for the most part. After failing to break over the $0.000008 resistance level, SHIB is almost certain to break through $0.000009.

Since January 2023, SHIB has climbed by over 10%. But over that same time frame, although altcoins like SOL have increased by over 400%. Since January, the value of the original cryptocurrency, Bitcoin (BTC), has grown by around 120%. Because of this, SHIB's 2023 performance hasn't exactly been stellar thus far.

       “Who knows; Is it possible for Shiba Inu (SHIB) to hit $0.00001 this week?”

The price of $0.00001, last observed in August 2023, is now being pursued by SHIB. The widely awaited launch of Shibarium earlier this year did not significantly affect the asset's price. The most plausible reason for the lack of price movement following Shibarium's introduction is that Bitcoin hasn't moved. It wasn't until Bitcoin hit a record high per year that SHIB's price started to gain traction.

PricePredictions' machine learning model indicates that SHIB will not get to $0.00001 very soon. The platform projects that SHIB will stay in the $0.000008 range for the remainder of November. PricePredictions does, however, predict that the token will hit $0.000009 by the beginning of December.

Moreover, CoinCodex predicts that Shiba Inu (SHIB) will not hit $0.00001 in November. The platform indicates that on November 28, 2023, SHIB can reach a maximum price of $0.000009777.

Should BTC maintain its upward trajectory, SHIB might trail suit. As of right now, Bitcoin is ruling the cryptocurrency market, and its surge could cause SHIB to remove a zero.

Reference:

Shiba Inu: How Much To Invest To Be a Millionaire If It Hits $0.05? (watcher.guru)

Shiba Inu: Can SHIB Rally 117000% and Hit $0.01 by 2030? (watcher.guru)