Shiba Inu: AI Predicts SHIB's Price for December 1, 2024

The cryptocurrency market is facing a correction at the moment. The dip follows Bitcoin’s (BTC) decline to just below $93,000. The global crypto market cap has dipped 2.9% in the last 24 hours to $3.35 trillion. Shiba Inu (SHIB) follows the market trend, facing a 2.3% correction in the daily charts and a 0.9% correction in the 14-day charts.

Also Read: Amazon Stock (AMZN) Climbs 3%: Why is Amazon Up Today?

Despite the dip, SHIB continues to maintain some gains in the other time frames. The asset is up 1.7% in the weekly charts, 44.49% in the monthly charts, and 198.4% since late November 2023.

Shiba Inu
Source: CoinGecko

Why Is The Crypto Market Down?

The current market dip could be due to increased volatility as Bitcoin (BTC) hit a new all-time high of $99,645.39 on Nov. 22, 2024. Market participants may have booked profits as the original crypto inched closer to the $100,000 mark.

Also Read: Ethereum Price Breakout Imminent – Here’s What it Means for Altcoin Season

According to Columbia Business School professor Omid Malekan, “Bitcoin tends to be more volatile during bull markets than in bear markets.“

Shiba Inu (SHIB) and other cryptocurrencies follow BTC’s trajectory.

Shiba Inu’s Price On Dec. 1, 2024

According to CoinCodes, SHIB will experience a price spike over the next few days. The platform anticipates the dog-themed crypto to trade at $0.00005094 on Dec. 1, 2024. Hitting $0.00005094 from current price levels will result in a rally of about 107.07%. CoinCodex does not expect SHIB’s price to hold above $0.00005 for long. The platform predicts a price correction to around current levels by mid-December 2024.

SHIB
Source: CoinCodex

Also Read: Brazil Congressman Proposes Creating a National Bitcoin Reserve

Changelly analysts also present a bullish outlook for SHIB over the next few days. The platform anticipates the asset to rise to $0.0000492 on Dec. 1, 2024. Hitting $0.0000492 from current price levels will result in a rally of about 100%. Like CoinCodex, Changelly also anticipates SHIB’s price to dip to around current levels by mid-December 2024.

Source: Changelly

  • shiba inu

Comments

Post a Comment

Popular posts from this blog

Dogecoin Price Prediction: DOGE Dips 7% As Investors Flock Its Rival PEPU Offering Last Chance To Buy Before Upcoming Tier-1 Exchange Listings

Image
The Dogecoin price dropped 7% in the last 24 hours to trade at $0.3670 as of 01:31 a.m. EST on trading volume that plunged 30% to $15.6 billion. Dogecoin Price On A Sustained Bullish Trend The Dogecoin price has been in a significant uptrend recently, with a sharp rise in mid-to-late October and into November. The trend is clear from the steep ascent in price of Dogecoin above both the 50-day (yellow line) and 200-day (red line) Simple Moving Averages (SMAs). This signals strong bullish momentum in the short to medium term, according to data from GeckoTerminal . Moreover, the Relative Strength Index (RSI) is currently around the mid-range, close to 54, which suggests that there is no immediate overbought or oversold condition. This level of RSI indicates a cooling off period after what was likely an overbought condition during the rapid price increase. The RSI cooling off while price remains high could indicate consolidation before the next move. If the Dogecoin price sustains th...
Read more

Tim Draper sets bitcoin target of $250k, DigiToads and Cardano poised to 100x

While US major investor Tim Draper believes bitcoin will hit $250,000, other analysts think DigiToads and Cardano are poised to grow by 100x. DigiToads investors anticipate value increase DigiToads’ presale success has made it one of the most sought-after cryptocurrencies. Crypto enthusiasts believe this cryptocurrency could grow by 100x once it launches, increasing the value of investors’ portfolios. The crypto project recently unveiled a collection of trending NFTs that allow users to make money from DigiToads’ platform to attract investors further. You might also like: DigiToads offer staking, burning, NFTs, and gaming; better drivers than Monero’s anonymity The NFT collection was unveiled despite TOADS still being in presale. This will make it easier for DigiToads’ value to grow by 100x when it launches. The NFT collection can be bought on OpenSea or minted at any time. Investors acquiring these trending NFTs can participate in NFT staking comp...
Read more

3 cryptocurrencies cheaper than a burger for a 2500% ROI by 2024

Image
As the cryptocurrency market continues to evolve and expand, investors are constantly on the lookout for undervalued assets with the potential for significant returns. While marquee tokens like Bitcoin and Ethereum dominate headlines, a multitude of lesser-known cryptocurrencies lurk beneath the surface, waiting to be discovered by astute investors.  Among these hidden gems are Retik Finance, Jupiter, and Ripple—three cryptocurrencies that offer compelling investment prospects and the promise of substantial growth in the coming years. In this article, we delve into the unique attributes of these tokens and explore their potential to deliver a 2500% ROI by 2024. Retik Finance (RETIK): Revolutionising Decentralised Finance (DeFi) Retik Finance (RETIK) emerges as a prominent contender in the realm of decentralised finance (DeFi), offering a comprehensive suite of financial services and solutions powered by blockchain technology. Unlike traditional financial institutions, R...
Read more