Shiba Inu (SHIB) has finally deleted a zero after its decimal point. SHIB’s price seems to be riding the SEC’s (Securities and Exchange Commission) spot Bitcoin (BTC) ETF (Exchange Traded Fund) approval wave. The popular memecoin is up 0.4% in the daily charts, 3.2% in the weekly charts, and 9% over the previous month. However, SHIB is down by over 4% in the 14-day charts.
Also Read: Shiba Inu: Millions of Bitcoin ETF Profits Might Flow Into SHIB
Although SHIB deleted a zero from its price, the token has struggled throughout 2023. SHIB’s performance was lackluster despite the project releasing a major layer-2 network. Memecoins, in general, took a backseat in 2023. However, fans and investors hope this year will be different than the last.
Shiba Inu (SHIB) weekend price prediction
According to Changelly, Shiba Inu (SHIB) could hit a price of $0.00001051 on Jan. 13 (Saturday), a rise of 3.2% from current levels. Moreover, the platform anticipates SHIB to reach $0.00001062 on Jan. 14 (Sunday), rallying 4.3% from current price levels. However, Changelly predicts SHIB’s price to fall back to current levels on Jan. 15 (Monday).
Also Read: Shiba Inu: $200 Investment Every Week Since 2020 Is Worth This Much.
CoinCodex, on the other hand, expects Shiba Inu’s (SHIB) price to fall to $0.00001013 on Jan. 13 (Saturday), a drop of around 0.5% from current levels. Moreover, CoinCodex expects SHIB to regain a zero by Jan. 17, 2024. The platform anticipates SHIB’s price to oscillate between $0.00001 and 0.000009
Despite its popularity, Shiba Inu (SHIB) has struggled to gain momentum. The memecoin has rallied by around 8% since January of last year. Other altcoins have rallied by over 100% in the same time frame, and some, like Solana (SOL), have rallied over 500%. Nonetheless, things could change for SHIB later this year. The team is working on a new burn mechanism that could significantly reduce the project’s supply, pushing prices up.
Credit: Source link