Bitcoin (BTC) has recently plummeted to a new low of $52K. Shiba Inu (SHIB) is also not an exception to this change.
BTC has consistently shown signs of gradual descent; however, the token is trying its best to keep its price stabilized.
Due to this situation, the altcoin market has also revolted, with key cryptocurrencies trending in red. Will the fate of these two cryptocurrencies change this weekend?
Also Read: Cryptocurrency Crash: 2 Coin Dips That Could Make You Rich
Bitcoin(BTC) and Shiba Inu(SHIB): Weekend Price Metrics
Bitcoin Price Prediction (Weekend)
Bitcoin is trading at $55K, up 4% in the last 24 hours. The token has gained modest traction after its dramatic fall yesterday. Notable crypto analyst Ali on X shared how August and September have historically been referred to as the worst months for Bitcoin. These months have often seen BTC plunging to new lows, documenting a 4%–5% decline.
At the same time, the analyst also shared a fresh forecast for BTC, adding that the token was poised to gain momentum soon. Ali stated that if BTC reclaims its $54K mark, the token can stabilize and hold support to ascend back to trade at the $67K price level.
“Based on the #Bitcoin MVRV Pricing Bands, $BTC needs to reclaim $54,000 as support to prevent a drop to $40,000. If the $54,000 support holds, the key resistance on the upside for #BTC is $67,000!”
According to CoinCodex, the technical indicators project a stunning price progression for BTC. CC predicts the token can claim the $65K mark by August 10, 2024.
“The Bitcoin price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these Bitcoin projections, BTC will be changing hands at $68,186 on August 13, 2024, gaining 22.66% in the process.”
Also Read: Bitcoin Will Drop Down to $11,000, Crypto Tycoon Predicts
Shiba Inu (SHIB) Price Prediction Weekend
Besides Bitcoin, Shiba Inu, the OG meme token, has also taken a nosedive amid the recent market revolt. SHIB is trading at $0.00001375, up 17% in the last 24 hours. The token’s robust community support has played a crucial role in diversifying calls to hold it despite fluctuating market conditions.
Several X handles spread optimism, telling investors to buy their SHIB as the token is on a “discount at the moment.”
According to CoinCodex, Shiba Inu may soon regain its lost spark and momentum. For this weekend, CC predicts the token will gain 110% to trade at the $0.00002857 price level.
Also Read: Ripple: AI Predicts XRP’s Price Post Its Stablecoin Release
“The Shiba Inu price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these Shiba Inu projections, SHIB will be changing hands at $0.00002270 on August 13, 2024, gaining 60.64% in the process.”
Credit: Source link