Shiba Inu hit a high of $0.000036 per year in March 2024. It spiked 28 percent that month. The Bitcoin halving took place in the first quarter of this year, and it sparked a lot of bullish sentiments. Bitcoin hit a record high price of $73,737. Leading altcoins also moved along with the Bitcoin’s value.
You may also like: Shiba Inu: Finders Predict SHIB To Rise 160%: Here’s When
SHIB, however, has fallen 115% since its high in 2024. The token is trading around the level of $0.000017 and has a bearish outlook on the charts. It is currently trading at the $0.000017 level and is attracting bearish sentiments on the charts.
Shiba Inu is down almost 115% since its peak. Should you purchase it now? The token has bottomed and is it going to shed its baggage by the end the year and provide high returns? The token is a good example of this. articleThis year, we’ll highlight the top investment choices for SHIB.
You may also like: Shiba Inu or Pepe Coin: Which Cryptocurrency Can Reach $0.01 First?
Shiba Inu Price Drops 115% Since Year High: Is Now The Time To Purchase SHIB?
Shiba Inu is not the right time to buy as cryptocurrency markets are in bearish territory. In Q1, the rally was due to Bitcoin’s halving and SEC approval of the Bitcoin ETF. Both events coincided, resulting in stellar returns to investors who entered the market early this year.
You may also like: Shiba Inu: Highest Price SHIB Will Trade in 2024
Now that the boat has sailed, there is no more hype or events for the crypto market. Now, the cryptocurrency market has been left at global’s mercy. financial Establishments and macroeconomic change. Shiba Inu may struggle to reach $0.000027 and spike another 100 percent.
SHIB gains most from hype and buzz. These are all absent, and there is little that could generate interest for the token. It is more likely that the token will trade with zeros and fall in value than go further north by 2024.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru