New Forecast Indicates Shiba Inu Will Rise 175% in May 2024

The Shiba Inu was trading around $0.00002487 as of Monday, up nearly 1% on the day. Cryptocurrencies have been trading mostly sideways this month, with few spikes in index prices. As SHIB continues to underperform, investors are finding it difficult to secure profits through day trading. However, a new price forecast says Shiba Inu has become extremely bullish and could soar 175% this month in May 2024.

In this article, we will highlight how high the price of SHIB could reach by the end of the month. This prediction is mostly bullish, and if it turns out to be accurate, investors could make a lot of money.

Also read: Prediction that Shiba Inu weight will reach 3 cents: then

Shiba Inu: New forecast predicts SHIB to rise 175% this month

Shiba Inu Rainbow Moon Space
Source: Reddit

Leading on-chain index and price prediction company coin codex The outlook for SHIB this month is bullish. The latest forecast estimates that the Shiba Inu could reach a high price of $0.00006844 by the end of May 2024.

This is approximately a 175% increase and return on investment (ROI) from the current price of $0.00002487. Therefore, if your predictions are accurate, your $1,000 investment could become $2,750.

Also read: Shiba Inu investors will profit in May 2024

Shiba Inu shib price prediction for May 2024Shiba Inu Shibu May 2024 Price Prediction
Source: CoinCodex

If Bitcoin rebounds and breaks above the all-time high of $73.737, SHIB will likely move further up the charts. Shiba Inu mainly moves in conjunction with Bitcoin, and a bullish move could also cause SHIB to remove the fourth zero.

Also read: Analysts predict SHIB to rise 227% to $0.000072

Nevertheless, there is no guarantee that Shiba Inu will skyrocket 175% this month, delivering impressive returns for investors. Cryptocurrency markets are highly volatile, leading to significant losses for holders in both directions.

We recommend that you conduct thorough research before taking entry positions in SHIB and trade at your own risk. The world market remains unstable as the Middle East conflict has not yet been resolved.

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