- Shiba Inu (SHIB) experienced a price increase, deleting a zero after its decimal with a 0.4% daily, 3.2% weekly, and 9% monthly gain, although it showed a 4% decline over 14 days and an overall lackluster performance in 2023.
- Price predictions for SHIB by Changelly suggest a potential rise to $0.00001051 on Jan. 13 and $0.00001062 on Jan. 14, but a reversion to current levels by Jan. 15, while CoinCodex forecasts a minor drop to $0.00001013 on Jan. 13 and a possible return to a zero price point by Jan. 17, 2024.
- In comparison to other altcoins, SHIB only rallied about 8% since last January, with others like Solana (SOL) surging over 500%, but the SHIB team’s work on a new burn mechanism could potentially reduce supply and drive prices up later in the year.
As the weekend approaches, crypto enthusiasts are turning their gaze to Shiba Inu (SHIB), a memecoin that has recently gained traction. With the buzz around the SEC’s potential approval of a Bitcoin ETF, SHIB’s price movements are under the microscope. Will the ‘Doge Killer’ continue its upward trend, or is a setback on the horizon? Let’s dive into the price predictions for this intriguing digital asset over the weekend.
SHIB Gains Following Bitcoin ETF Wave
- SHIB has risen by 0.4% on daily charts, showing a promising uptick.
- Weekly and monthly gains stand at 3.2% and 9%, signaling a stronger position.
- Despite a 4% dip in the 14-day chart, optimism remains high among investors.
- Recent price action saw SHIB eliminate a zero after the decimal, a noteworthy milestone for the currency.
SHIB’s Struggle and Potential Comeback
- SHIB’s journey through 2023 was marred by struggles, despite launching a major layer-2 network.
- Memecoins took a backseat last year, leaving SHIB to underperform.
- Investors and fans are hopeful for a turnaround in SHIB’s fortunes this year.
Weekend Price Predictions for Shiba Inu
- Changelly predicts a potential rise to $0.00001051 on Saturday, a 3.2% increase.
- The platform forecasts a further climb to $0.00001062 on Sunday, up 4.3%.
- Expectations suggest a retraction to current levels by Monday.
- CoinCodex has a less optimistic view, anticipating a slight drop on Saturday.
- Predictions include a potential return to lower price levels by January 17, 2024.
The Competitive Landscape and Future Outlook
- SHIB has only rallied by about 8% since last January, while other altcoins have seen much larger gains.
- Solana (SOL), for example, has surged by over 500% in the same timeframe.
- However, there may be a silver lining for SHIB with the introduction of a new burn mechanism.
- This mechanism could reduce the token’s supply significantly, potentially leading to price increases.
With various predictions on the table, the Shiba Inu community is waiting with bated breath to see if SHIB can outperform its peers this weekend and possibly in the long term. As the crypto market continues to be unpredictable, savvy investors will keep a close eye on SHIB’s price action for any signs of significant movement.
