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Shiba Inu (SHIB) Weekend Price Prediction: Mid-July 2024

Shiba Inu (SHIB) Weekend Price Prediction: Mid-July 2024

Shiba Inu (SHIB) saw a brief decoupling from other assets yesterday. The asset is up 6.3% on the weekly chart, but is still down almost 1% on the daily chart, 2.5% on the 14-day chart, and over 26% from the previous month.

The market dip has been going on for a few weeks and is likely due to investor fears surrounding the Mt. Gox Bitcoin fee and the German government’s Bitcoin sell-off. Bitcoin briefly climbed to $59,000 but has since fallen back to the $58,000 level.

Also read: Shiba Inu: $1 a day in SHIB since 2020 becomes $24 million today

Shiba Inu weekend price prediction

shiba inu bokeh lights shibshiba inu bokeh lights shib
Source: Pixabay

CoinCodex researchers predict that SHIB’s price will increase in the coming days. The platform predicts that SHIB will reach a price of $0.00002628 on Sunday, July 14, 2024, a 59% increase from current levels. According to CoinCodex, SHIB will peak at $0.00003607 on July 16, 2024, before undergoing a correction and returning to current values.

Source: CoinCodex

Changelly has an even more optimistic outlook for Shiba Inu price movements over the weekend. The platform predicts that SHIB will reach $0.00003318 on Sunday, July 14, 2024. Reaching $0.00003318 from the current price would result in a gain of over 100%.

There is also a lot of talk about an Ethereum (ETH) ETF that could potentially launch sometime in mid-July. Since Shiba Inu is an Ethereum-based cryptocurrency, the launch of an ETH ETF could be beneficial for ETH-based projects. SHIB could see a rally after the ETF makes its debut.

Also Read: Shiba Inu (SHIB) Expected to Hit $0.001 After Ethereum ETF

The SHIB team is also reportedly working on a new burn mechanism that is said to burn trillions of tokens annually. We don’t have confirmation on when the new burn mechanism will launch, but it could lead to a significant price increase for the asset.