Shiba Inu Weekly Price Prediction: Can SHIB Hit $0.00002?

Shiba Inu (SHIB) recovered slightly over the weekend, hitting $0.000014 on Friday. The rally was brief as the dog-themed crypto has dipped 3.6% in the daily charts. SHIB’s price is still up in the other time frames, rallying 2.1% in the weekly chart, 0.6% in the 14-day chart, and 0.2% over the previous week.

The asset has also been up more than 78% since September 2023. This price prediction article will explore how high it could climb this week.

Also Read: Shiba Inu Member Explains How SHIB Can Reach $0.01

The rally could be due to Bitcoin (BTC) briefly reclaiming the $60,000 mark. BTC has since fallen back to $58,000 levels.

SHIB Weekly Price Prediction

According to CoinCodex data, Shiba Inu (SHIB) could surge to $0.00002863 on Saturday, Sept. 21, 2024. Hitting $0.00002863 from current price levels will entail a rally of nearly 115%. The platform does not expect SHIB’s price to hold above $0.00002, predicting a correction to around $0.000015 by the end of the month.

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Changelly analysts present an even more bullish picture for SHIB over this week. The platform predicts SHIB to hit a high of $0.00002941 on Friday, Sept. 20, 2024.

Reaching $0.00002941 from current price levels will translate to a more than 120% rally. Like CoinCodex, Changelly researchers do not expect SHIB’s price to hold above $0.000020, predicting a correction to $0.000014 by Sept. 30, 2024.

Also Read: Top 3 Cryptocurrencies To Watch This Week

Despite the bullish forecasts for this week, there is a possibility that Shiba Inu (SHIB) will consolidate at around current prices. The asset is unlikely to move unless Bitcoin (BTC) rallies. Market participants expect the Federal Reserve to cut interest rates soon, which may trigger a market-wide rally in the cryptocurrency sector.