The post Shiba Inu Primed for Explosive May: Analyst Predicts SHIB Price Surge to $0.001 appeared first on Coinpedia Fintech News
Amid a market correction, Shiba Inu (SHIB) is facing challenges, losing recent gains like many other cryptocurrencies. Despite this, SHIB is holding strong at $0.000025.
However, market analysts anticipate that SHIB may relinquish this support by the end of April. Meanwhile, prominent Bitcoin investor Armando Pantoja has argued that Shiba Inu could be at $0.001 this year or 2025.
Shiba Inu Aim For $0.001
In a recent tweet post Armando Pantoja made a bold prediction for Shiba Inu (SHIB) suggesting that it could surge above $0.001 by 2024 to 2025.
Pantoja’s forecast indicates that SHIB could potentially shed two zeros from its current price within the next few years, highlighting his optimistic outlook on Shiba Inu’s future trajectory.
Echoing this positive sentiment, Changelly, a well-known crypto exchange, shared optimistic projections for SHIB’s performance in the coming months.
According to Changelly’s analysis, SHIB could reach a maximum price of $0.00008740 in May 2024, representing a substantial 248% increase from its current valuation. Additionally, Changelly predicts that SHIB’s average price throughout May could hover around $0.00006120, with a projected minimum of $0.00003490.
Bullish Momentum for Shiba Inu
CoinCodex, another crypto analytics resource, aligns with this bullish sentiment by forecasting a rise in SHIB’s price to $0.00003278 within the next five days, with a more substantial target of $0.00008284 by the end of May. This aligns with Changelly’s optimistic outlook on SHIB’s potential growth trajectory.
Historical Trends & AI Predictions
Analyzing historical data, Cryptorank forecasts an average 99% increase for Shiba Inu in May, driven by previous surges observed during this period. If SHIB follows this historical pattern, it could reach a price of $0.00004991 by the end of May 2024, surpassing previous yearly peaks.
Meanwhile, AI Tools Such as Google Bard, offer a wider range of potential outcomes for SHIB’s price in May, estimating a range between $0.00004 and $0.00007. As of now, Shiba Inu is trading at $0.00002549, showing a slight increase of 1.97% over the past 24 hours. While the cryptocurrency commands a market cap of $15.3 billion.