Anticipated Changes in Shiba Inu (SHIB) Cryptocurrency Valuation on May 3
Check out Shiba Inu (SHIB) on Google News The cryptocurrency market has taken a bearish turn, and Shiba Inu (SHIB) isn't immune.
Currently, SHIB trades at $0.00001329, representing a 1.03% dip over the previous 24 hours. The market cap now hovers at $7.82 billion, while trading volume has witnessed a significant drop of 29.11%, down to $120.96 million. This move shrinks the volume-to-market-cap ratio to 1.54%.
Amid the cooling investor activity, SHIB boasts approximately 1.5 million holders and a colossal total token supply of 589.5 trillion. Its fully diluted valuation mirrors its current market capitalization.
Analyzing the hourly chart, SHIB's price inches close to its immediate support level at $0.00001329. A drop below this may propel the correction down to $0.00001315. On the daily chart, the landscape doesn't foretell a reversal as of now. If the day ends near its low, the downturn might continue towards the $0.00001250 area.
Overall, the market remains indecisive, with neither bulls nor bears seizing the upper hand. If SHIB wraps up the day near its current levels, the most likely short-term scenario appears to be a sideways crawl within the $0.00001330 to $0.00001450 range.
#Shiba Inu (SHIB) Price Predictions
Though the immediate future of SHIB is hazy, long-term expectations suggest a tantalizing growth potential.
According to industry analysts, SHIB might surge by 124%, hitting $0.00003, with forecasters pointing to the WaveTrend Oscillator's reversal and breakouts of descending trendlines as key catalysts.
In 2025, a consensus of 26 crypto experts anticipates an average year-end price of $0.0000399, with some optimistic outliers predicting $0.00006 or even more. SHIB may touch $0.00007488 as per Forbes' projection, marking a dramatic 455% surge from current levels.
Reaching $0.0001 by 2029, and potentially $0.000161, could be possible if the circulating supply continues to tighten due to sustained burns or demand spikes following Vitalik Buterin’s 2021 token destruction.
Key drivers for SHIB's price trajectory include technical factors and market sentiment, with breakouts above resistance levels vital for upward momentum. Crypto market trends and meme coin popularity cycles will undeniably impact SHIB's journey.
- Despite a bearish market trend, Shiba Inu's (SHIB) price trades at $0.00001329, with a market cap of $7.82 billion and a daily trading volume of $120.96 million.
- The shrinking volume-to-market-cap ratio indicates a drop in trading activity, with the ratio now at 1.54%.
- Amid this bearish sentiment, Shiba Inu boasts approximately 1.5 million holders and a total token supply of 589.5 trillion.
- Short-term price predictions suggest a sideways crawl within the $0.00001330 to $0.00001450 range, given current market indecision.
- Long-term expectations, however, are optimistic, with industry analysts predicting a 124% surge to $0.00003 by 2023, influenced by the WaveTrend Oscillator's reversal and descending trendline breakouts.
- By 2025, a consensus of 26 crypto experts anticipates an average year-end price of $0.0000399, with some outliers predicting even higher prices. Forbes projected that SHIB might touch $0.00007488 by 2025, marking a dramatic 455% surge from current levels.
