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 conditions in July 2024 suggest that the SHIB market is bearish.

3. Predictive forecasts

• Based on predictions from our AI/ML models, the average price of SHIB is expected to reach $0.001 in 2029 and increase to $0.01 in 2033.

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: Can the memecoin recover its losses?

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 rallied to challenge $0.000010. The failure to overcome this level in August led to a decline to the lowest support at $0.000007 by September.

After a momentary fall below the low floor in October, the bulls initiated another recovery attempt mid-month. The price challenged the previous level once more in December.
 

The beginning of the new year did not immediately bring about a change in fortune for the memecoin. It struggled 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, followed Bitcoin's (BTC) higher trending price movements.

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 the 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 $0.000026. Bullish attempts to reclaim this level remained unsuccessful. Consequently, the token was bound within a two-month range formation between this resistance and $0.000022. 

Furthermore, a breakdown in mid-June flipped the latter bearishly, preceding further drops. AMBCrypto reported the decline in the market negatively influenced investor sentiment, as indicated by the decreasing difference between investors who were profiting and those who were incurring losses.

By the onset of July, the token had landed on $0.000014. As the analysis concluded, it was trading at $0.000016. AMBCrypto’s recent analysis suggested that Shiba Inu may experience significant double-digit percentage losses in the coming weeks. Consequently, the memecoin's value could drop to $0.000010 or even lower.

For bulls to gain an edge, they must flip the market structure to bullish by decisively reclaiming the $0.000026 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. They forecast the token's average trading price to rise as high as $0.001 in 2029 and to $0.01 by 2033.

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

• SHIB’s trading volume 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.
• The On-Balance Volume (OBV) remained relatively flat until mid-February, with alternating ups and downs. Additionally, a sharp spike followed this. 
• From March, the OBV reversed its trajectory and dropped. After a brief rise in May, it resumed its southbound trajectory. At the time of writing, it registered at 1595.367 trillion, suggesting a dominant selling pressure.
• The Awesome Oscillator (AO) turned positive in late November. From the end of February, the AO's positive values rose significantly. However, this momentum waned in April, culminating in the indicator dropping below the zero line by July. At press time, it stood at -0.00000009, which indicated a reversal to bearish conditions.