Shiba Inu (SHIB) Price Prediction: December 2023

Shiba Inu (SHIB) has had a tough year in 2023. Despite a significant layer-2 network launch, the asset’s price has struggled to gain momentum. SHIB has dipped 3.9% in the last seven days and 6.2% in the 14-day charts. Nonetheless, the token is up 7.2% over the previous month.

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Shiba Inu (SHIB) Price Prediction for early December 2023

According to the machine learning algorithm from PricePredictions, SHIB will hit a price of $0.00000891 on Dec. 5, 2023, a growth of about 7.22% from current levels. Furthermore, the platform expects SHIB to continue upward for most of December. According to PricePredictions’ analysis, SHIB may lose a zero after its decimal in mid-December.

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CoinCodex, on the other hand, expects Shiba Inu (SHIB) to drop to $0.00000718 by Dec. 8, 2023, a fall of about 13% from current levels. Moreover, the platform anticipates SHIB oscillating between $0.00000750 and $0.00000880 for most of December. Additionally, the platform does not expect SHIB to lose a zero after its decimal point in December.

Changelly predicts that SHIB will drop to $0.00000794 by Dec. 5, 2023, falling 4.4% from current levels. Nonetheless, the platform expects the token’s price to rise to $0.00000918 on Dec. 26, 2023, rising by about 10% from current price levels.

Despite its lackluster performance in 2023, many analysts expect SHIB to regenerate momentum in 2024. Researchers anticipate another bull run for the crypto market in 2024, fueled by Bitcoin’s (BTC) halving and the possible approval of a spot BTC ETF (Exchange Traded Fund) by the SEC (Securities and Exchange Commission). SHIB could see a new all-time high next year, surpassing its 2021 peak of $0.00008616.