Shiba Inu Price Prediction: 2024, 2025, 2030

SHIB price prediction: Key highlights

1. Primary support and resistance levels

• In the weekly time frame, SHIB established its lowest support level at $0.000007. Its highest resistance level is likely to be $0.000053.

2. Market sentiment

• The market conditions in June 2024 suggest that SHIB bulls are getting weak.

3. Predictive forecasts

• Based on predictions from our AI/ML models, the average price of SHIB is expected to reach $0.002 in 2029 and increase to $0.1 in 2035.

Get valuable insights on SHIB via a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

SHIB technical analysis: Threat of further declines looms large

An analysis of the SHIB’s weekly chart revealed significant fluctuations in price movement, offering insights into potential future trends and Shiba Inu price prediction for 2024. Initially, the token faced considerable selling pressure, causing a brief breach of the lowest support at $0.000007 in June. 

Despite these challenges, the bulls reclaimed this level shortly. Nonetheless, their success was short-lived as the price failed to overcome $0.000010 in August, leading to another period of decline back to the lowest support by September.
 

After a momentary fall below the low support the next month, an interesting pattern emerged as the bulls initiated another recovery attempt in mid-October. The price challenged the resistance once more in December.
 

The beginning of the new year did not immediately bring about a change in fortune for the memecoin. It continued to struggle against the same level, only to face another setback. Yet, SHIB didn't fall to previous lows.

A turning point was observed towards the end of February when a significant price surge enabled the token to overcome this long-standing barrier. This breakthrough was not isolated, as many altcoins, including SHIB, often follow Bitcoin's (BTC) price movements, which were trending higher.

Continuing its upward trajectory into March, the token established $0.000032 as its new highest resistance level while reclaiming $0.000022 as support. This development was particularly significant, as this level had not been overcome since Q2 2022. 
 

SHIB stood out as one of the cryptocurrency market's top performers, boasting substantial gains. However, this streak was interrupted as the broader market crashed. The dog-themed token underwent a correction in April after being deemed overbought.

The following descent caused SHIB to retrace its steps below $0.000027. Bullish attempts to reclaim this level remained unsuccessful. Consequently, the token remained stuck within a two-month range formation between this resistance and $0.000022. As the analysis concluded, the token was trading closely to the support at $0.000023.
 

AMBCrypto recently highlighted that more drops are likely for the token. The increase in exchange inflows, as compared to outflows, implied that selling pressure was high. If this continues, the price can fall as low as $0.000020, leading to a sharp rise in liquidations.
 

Conversely, the recent whale activity could hint at a possible bullish breakout. Nonetheless, short-term losses can be anticipated before any uptrend happens. For bulls to gain an edge, they must flip the market structure to bullish by decisively reclaiming the $0.000027 level. Should the bulls succeed, the immediate target would be $0.000032. Afterward, $0.000053 can be pointed as a barrier for further upside. 

Our prediction models support a moderate yet growing bullish sentiment, forecasting the token's average trading price to rise as high as $0.002 in 2029. The projections also suggest an increase in the token's average trading price to $0.01 by the year 2035.

SHIB's 2024 roadmap: Key indicators to watch and trade

• The trading volume of SHIB remained lackluster for most of the observed period. A notable increase in volume was observed during the late February surge, with a peak volume of 355.715 trillion recorded in March. 
• The recent drop in the token’s value was mirrored in the volume dynamics. This pattern reflected a re-evaluation of the token's value by the market as traders reduced positions or waited for new developments.
• The On-Balance Volume (OBV) began to ascend slightly in June. It then faced a downturn from August to October before resuming its ascent.
• Between December and mid-February, the indicator showed flat momentum, which was followed by a sharp spike. Afterward, the OBV reversed its trajectory and dropped. At the time of writing, it recovered to register at 1669.207 trillion, suggesting a slight resurgence of buying volume.
• The Awesome Oscillator (AO) started below the zero line and turned positive towards the end of November, suggesting a shift towards buying momentum.
• Towards the end of February, the AO's positive values rose significantly. However, this momentum waned in April, bringing the indicator close to zero at 0.00000824. This indicated a decrease in bullish strength.