Having temporarily cleared the $0.00002500 level earlier this month, Shiba Inu (SHIB) is now having difficulty regaining it. In the weekly charts, SHIB is up 1.1%, and in the 14-day charts, it is up 13.1%. On the daily and monthly charts, the asset has experienced a 0.9% decline, though.
The current market price of Shiba Inu is $0.00002621, facing a decline of 2.3% as of now. The US Securities and Exchange Commission (SEC) by approving all Ethereum ETFs (Exchange Traded Funds) may have sparked an upsurge earlier this month. But the market didn’t maintain levels, and the advance was quickly followed by a fall. The rally may not have been durable because the ETH ETF was a “sell the news” event. However, the rally may gain momentum in some time.
AI Predicts SHIB Price
- According to CoinCodex, SHIB has the potential to hit $0.00002970 on May 31. It is expected to continue its rally in June, along with reaching the level of $0.00008375 on June 24, 2024, reflecting a growth of about 241.28%.
- On the other hand, Changelly anticipates Shiba Inu to reach $0.00002969 on May 31, 2024, and $0.00008373 on June 24, 2024.
The US SEC-approved Ethereum (ETH) ETFs may be the cause of the anticipated surge. Similar to the market boom that occurred when the SEC approved 11 spot Bitcoin (BTC) ETFs in January, many analysts predict a market-wide rally
For more information, check out ReadingCrypto and stay updated.
Disclaimer: This post is intended solely for informational purposes and should not be taken as legal, tax, investment, financial, or any other form of advice. Although all the information provided is true to the best of our knowledge, it is advisable to research well before making any kind of investments or decisions in general. The team of ReadingCrypto bears no responsibility in the event of any adverse outcomes.
