Here’s What SHIB’s Immediate Price Target Is?

Shiba Inu is undoubtedly one of the core tokens of the cryptocurrency system. The meme coin took the internet by storm after its launch in 2020. SHIB’s 2021 price rally was memorable, leaving investors spellbound for the rest of their lives. Will SHIB ever be able to spark a rally like that? Let’s find out.

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Shiba Inu: Core Proceedings and What’s Happening

Shiba Inu is currently sitting at $0.00002187, up 4% in the last 24 hours. The token has lately been projecting a slow momentum, noting a 20% and 19% downtick in the last week and month.

Furthermore, Bitcoin’s low price momentum has added more pressure to the altcoin market, with coins like SHIB raking in slow gains.

The year 2024 has been significant for SHIB in many ways. Talking about it in detail, Lucie, SHIB’s marketing lead, shared on X how 2024 impacted SHIB in many ways. Regarding Shibarium, the platform went through a mainnet upgrade, processing more than 680 million transactions. Shibarium transactions have always been pivotal in burning SHIB and maintaining its steady and aligned price rhythm.

Shibarium: December 2024 Update (So Far)

🟪 Mainnet Upgrade – Shibarium underwent key upgrades with Heimdall and Bor hardforks, introducing Ethereum’s Dencun compatibility, enhanced stability, and a new upgradable burn contract to further streamline Shib burns.

🟪 Milestones… pic.twitter.com/359g53I09O

— Shibarium Updates 📢 (@Shibizens) December 22, 2024

At the same time, Lucie shared how Shibarium has also collaborated with ChainLink in a new partnership, bringing two core cryptos together to work in the long haul.

“Chainlink Integration: 🟪 Cross-Chain Expansion—Shibarium integrated Chainlink’s CCIP (Cross-Chain Interoperability Protocol) and CCT (Cross-Chain Token) standard, enabling SHIB, BONE, and LEASH to operate seamlessly across 12 blockchains. This collaboration enhances cross-chain functionality, driving on-chain activity and increasing the frequency of SHIB burns. Chainlink’s advancements in interoperability and data services solidify Shibarium’s position as a versatile and forward-looking blockchain platform.”

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The Token’s Immediate Price Path

Per CoinCodex, Shiba Inu is currently sitting at $0.00002187 and may surge to hit $0.00004411 five days from now.

“According to our current Shiba Inu price prediction, the price of Shiba Inu is predicted to rise by 105.06% and reach $0.00004411 by December 28, 2024. Per our technical indicators, the current sentiment is bearish while the Fear & Greed Index is showing 73 (greed). Shiba Inu recorded 14/30 (47%) green days with 10.34% price volatility over the last 30 days. Based on the Shiba Inu forecast, it’s now a bad time to buy Shiba Inu.”

Also Read: Shiba Inu Price Prediction For The End Of 2024: Is SHIB Surging Soon?