Can SHIB Hit an All-Time High in May 2024?

Shiba Inu (SHIB) has faced a significant correction over the last few weeks. The asset is down by 4.8% in the daily charts, 15.6% in the 14-day charts, and 21.7% over the previous month. Nonetheless, the asset has maintained some gains in the weekly charts, rallying nearly 9% in the last seven days.

Also Read: Shiba Inu (SHIB) To Rally 227%, Hit $0.000072: Predicts Analyst

SHIB had an incredible year in 2021. After its launch in August 2020, SHIB’s price rallied by many million percent and hit an all-time high in October 2021. However, the asset has struggled to reclaim its 2021 peak. SHIB is currently down by 73.6% from its all-time high of $0.00008616.

Will Shiba Inu (SHIB) hit an all-time high in May 2024?

Despite the poor performance, there is a possibility that Shiba Inu (SHIB) will reclaim its 2021 high. According to CoinCodex, SHIB could surge to $0.00006359 on May 30, 2024. Reaching $0.00006359 from current levels would translate to a growth of nearly 180%.

Although the gains are commendable, they fall short of SHIB’s all-time high. Moreover, CoinCodex anticipates SHIB to hit $0.00007911in early June. If the asset can maintain its price at $0.00007, it may surpass its all-time high.

Also Read: Shiba Inu: Here is How to Be a Millionaire When SHIB Hits $0.001

Changelly also paints a bullish picture for Shiba Inu (SHIB). The platform anticipates SHIB to hit $0.00006696 on May 28, 2024. Moreover, Changelly predicts SHIB to reach $0.00008332 in early June 2024. If the asset holds prices at $0.00008, it may surpass its all-time high and hit a new peak.

SHIB is one of the most popular cryptocurrencies in the market. Therefore, if the dog-themed crypto rallies, people will likely begin to invest in anticipation of another 2021-like bull run.