Shiba Inu: Will SHIB Delete Its Fifth 'Zero' In June?

After adding an extra ‘zero’ in the charts in May, Shiba Inu is currently trading at $0.00000850. SHIB is struggling to knock out the ‘zero’ it added as it’s mostly moving backward than forward. The token is currently on a correction for 10 consecutive days and barely rallied in the indices in Q2, 2023. The development is testing the patience of its investors who dream of seeing SHIB go ‘to the moon’. The reality is that the token is crashing with little to no hope of skyrocketing in price again.

Also Read: Shiba Inu: June 2023 Price Prediction for SHIB

Source: Coingecko

Can Shiba Inu recover from its price drop and will it rally in June 2023? Here’s a price prediction if SHIB could delete its fifth ‘zero’ by the end of June.

Will Shiba Inu Delete Its Fifth ‘Zero’ in June?

Shiba Inu
Source – Watcher Guru

Leading on-chain metrics and price prediction firm Changelly predicted that SHIB might not delete its fifth ‘zero’ in June 2023. The firm painted a bearish picture for the dog-themed token forecasting that it could fall further in the coming weeks. According to the latest price prediction, Shiba Inu could dip further and fall to $0.000007483 by the end of June. That’s a downturn of nearly 15% in the next four weeks.

Also Read: Dogecoin: June 2023 Price Prediction For DOGE

Source: Changelly

Therefore, from its $0.000008 level in May, SHIB could fall to $0.000007 in June and cause losses to investors. It is advised to remain cautious before taking an entry position into SHIB in the next few weeks. SHIB failed to attract buying pressure in May and the negative sentiment could carry forward in June. Investors are skeptical to take an entry position as the token is steadily heading south with no signs of a recovery.

Also Read: VeChain: VET Price Prediction for June 2023

At press time, Shiba Inu was trading at $0.00000850 and is down 3.5% in the 24-hours day trade. SHIB is also down 90.12% from its all-time high of $0.00008616, which it reached in October 2021.

  • shiba inu

Comments

Post a Comment

Popular posts from this blog

BTC hodlers outperformed crypto funds by 69% in H1: 21e6 Capital

Image
21e6 Capital AG stated that crypto funds generally outperformed the price gains of BTC in previous bull runs, but ultimately suffered this year from having too much cash on hand and playing it safe. The classic buy and hold, or HODL approach to Bitcoin (BTC) out perform ed the majority of crypto funds by 68.8% in the first half (H1) of 2023. According to data from Switzerland-based investment adviser 21e6 Capital AG, on average, crypto funds generated returns of 15.2% in the first half of 2023 (Jan.1 to June 30) , compared to the roughly 84% price gain BTC saw in the same period. Crypto funds on average generated 15.2% return in the first half of 2023 lol pic.twitter.com/vb8pwYfiX9 — Alex Krüger (@krugermacro) August 5, 2023 Emphasizing the significance of such via an Aug. 2 half-year report, 21e6 Capital AG’s head of marketing Maximilian Bruckner outlined that crypto funds have been “frequently able to significantly outperform Bitcoin in previous bull runs.” Bruckner attrib...
Read more

Shiba Inu lead developer queries Coinbase's 'Onchain Summer' campaign

Kusama responded to Coinbase’s CEO, Brian Armstrong's update with the statement, "If it isn't a shadowcat, it's a copycat." Shytoshi Kusama, the lead developer of Shiba Inu, has given a response to Coinbase's Onchain Summer campaign . He suggested that Coinbase's campaign seemed to have similarities with the ideas originally presented by the Shiba Inu community. Kusama responded to Coinbase’s CEO, Brian Armstrong's update with the statement, "If it isn't a shadowcat, it's a copycat." On August 3, Armstrong showcased in a tweet the use of the Base bridge, launched the previous day, while highlighting Coinbase's upcoming Onchain Summer initiative. Coinbase is preparing to launch its Ethereum Layer 2 solution, known as Base, on the mainnet. Armstrong recently confirmed that Base is aimed at bringing the next billion users into the blockchain ecosystem. It aims to achieve this goal by offering tools for the development of various W...
Read more

Blackrock CEO issues dire warning over ‘debt ceiling drama’ — Bullish for Bitcoin?

Image
The debt ceiling has been raised but Larry Fink says trust in the U.S. dollar is being eroded, which could be good news for Bitcoin. Blackrock CEO Laurence Fink believes the recent " drama " around the United States debt ceiling has deteriorated global trust in the U.S. dollar, something that other analysts predict could provide some tailwinds for Bitcoin (BTC). Fink’s comments come as U.S. lawmakers passed a highly-anticipated bill to lift the $31.4 trillion debt ceiling on June 1. The U.S. Treasury indicated that the deadline for raising the debt ceiling was June 5. Any later, the country could begin defaulting on its debts. 314-117: The House passes the Biden-McCarthy debt ceiling agreement, raising the debt limit until 2025 and instituting discretionary spending caps for two years. 71 Republicans and 46 Democrats voted “no” on the bill. pic.twitter.com/RdU42whDd5 — The Recount (@therecount) June 1, 2023 According to a May 31 report from Reuters, Fink told the attendee...
Read more