Shiba Inu is currently hovering around the $0.000025 price range on Saturday and moving mostly sideways on the charts. The cryptocurrency has seen little price surge over the past two months and remains underperforming. In March, SHIB surged 280% following the Bitcoin halving event. Between January and March, it rose from a low of $0.000008 to a high of $0.00004.
Now that the dog-themed token is trading sideways in the index, can it pick up and rebound next month? In this article, we will highlight the highs or lows that Shiba Inu may trade at in the June 2024 chart.
Shiba Inu: Can SHIB remove zero in June 2024?
Leading on-chain metrics and price prediction firm CoinCodex paints a bullish picture for Shiba Inu in June 2024. According to the prediction, SHIB could continue to scale in the charts and approach its all-time high of $00008616 reached in October 2021.
The forecast estimates that Shiba Inu could repeat its March feat and surge another 227% this month of June 2024. The forecast says SHIB could reach a new yearly high of $0.00008467 by the end of this month. The target price for SHIB on June 30, 2024, is $0.00008467, a surge of 227%.
Therefore, if the forecast is accurate, a $1,000 investment could turn into $3,270 by the end of June 2024. This is an impressive return in a short period of time, one that even the stock and commodity markets cannot offer.
Still, there is no guarantee that Shiba Inu will surge 227% in the June 2024 chart. The cryptocurrency market is highly volatile, cutting both ways to losses for investors. You are advised to invest in SHIB at your own risk.
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