As an experienced analyst, I find Changelly’s bullish forecast for Shiba Inu intriguing, given its recent price volatility. Based on the data provided and my own analysis of market trends, I believe that there is a strong possibility of Shiba Inu reaching new all-time highs in May, as predicted by Changelly.
According to Changelly’s analysis, the popular meme token Shiba Inu is anticipated to reach unprecedented peak prices, marking new record highs. However, this bullish trend is expected to be followed by periods of downturn or bearish movements.
SHIB Expected To Reach New ATH In May
As a researcher studying the cryptocurrency market, I’d like to share some insights based on Changelly’s price forecast for Shiba Inu. According to their prediction, the value of this cryptocurrency was expected to increase from May 2024 to the end of the year. However, following its remarkable rise to around $0.00004 in late April 2024, Shiba Inu experienced a substantial decline, dropping by approximately 14.06% as reported by CoinMarketCap.
Changelly’s analysts anticipate that Shiba Inu’s price will climb to unprecedented highs next month, with an average cost of around $0.000312 in April. Subsequently, they project a remarkable growth leading up to a peak value of approximately $0.000087 in May.
Based on Changelly’s predictions, the average and lowest estimated prices for Shiba Inu in May are roughly $0.000034 and $0.0000061, respectively. Analysts note that Shiba Inu has shown robust price foundations over the past few days, resulting in a significant increase of approximately 22.22%.
Earlier in March, there was a significant decline in the value of the cryptocurrency. This drop was instigated by waning enthusiasm and decreased demand for meme coins within the crypto market. According to Changelly’s forecast, Shiba Inu could potentially experience a growth of 11.97% by April 26, 2024.
Currently, the value of the cryptocurrency is sitting at $0.000025 during my writing process. This represents a 1.35% gain over the previous 24 hours and a significant jump of 12.58% in the past week, as reported by CoinMarketCap. According to Changelly’s perspective, if Shiba Inu manages to break free from its current downward trend and experience a substantial price rise, it could establish itself as a robust asset within the unpredictable cryptocurrency marketplace.
Price Set To Go Downhill After Bullish Surge
Based on their bullish prediction for Shiba Inu made in May, Changelly’s analysts now expect the cryptocurrency to experience bearish price action due to market volatility. They forecast an average decline of around $0.00005 in June, with potential minimum and maximum prices of $0.000024 and $0.000075 respectively.
Based on current market analysis, I anticipate that by July 2024, the average price of Shiba Inu will have decreased to approximately $0.000025. However, towards the latter part of the year, from August to October, there is a projected upward trend in the price of Shiba Inu, with a peak value estimated to be above $0.00008.
During this optimistic phase, Changelly has issued a warning that the value of Shiba Inu could experience a significant decline in December. The average price is predicted to reach a low of $0.000014, with minimum and maximum trading values being $0.000013 and $0.000014 respectively.
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2024-04-27 02:11