Shiba inu

Shiba Inu (SHIB) Rallies 150%, Will It Hit $0.00003 Next?

After a lackluster 2023, Shiba Inu (SHIB) has finally turned the tide, rallying 136.1% in the weekly charts, 131.9% in the 14-day charts, and more than 150% over the previous month. The asset’s price has roared past its $0.00001 resistance, which it struggled to do for months.

Source: CoinGecko

Also Read: Shiba Inu: $1000 Investment in 2020 Turns Into $11 Million in 2024

SHIB’s latest rally could be fuelled by Bitcoin (BTC) reclaiming the $63k level. BTC’s stellar performance has trickled into other assets, leading to a market-wide rally. SHIB’s latest rally has also pushed the asset’s rank to 12th in terms of market cap.

Can Shiba Inu (SHIB) hit $0.00003 this week?

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According to CoinCodex, Shiba Inu (SHIB) won’t hit $0.00003 this month. The platform anticipates the asset to reach $0.00002459 on Mar. 11, 2024. However, there may be a slight correction soon after. CoinCodex anticipates SHIB to trade between $0.00002013 and $0.00002450 for most of this month.

Source: CoinCodex

Changelly paints a more bearish picture for Shiba Inu (SHIB) for March. The platform anticipates the asset’s price to fall to $0.00001795 on Mar. 12, 2024, a decline of about 21.17% from current levels. Changelly predicts SHIB to trade between $0.000018 and $0.000020 throughout this month. As for the entire year, Changelly anticipates SHIB to reach a maximum price of $0.0000219978.

Also Read: Shiba Inu: Here is When SHIB Could Reach $0.0005

Telegaon, on the other hand, anticipates Shiba Inu (SHIB) to reach a maximum price of $0.0000571 this year. Reaching $0.0000571 from current levels would translate to a growth of over 150%.

If Bitcoin (BTC) continues its bullish trajectory, SHIB may follow suit. BTC will undergo its halving cycle in April, and the asset may enter another bullish phase, reclaiming its all-time high of $69,044. If BTC hits its 2021 peak, other assets may restest their respective highs, too.

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