Shiba Inu (SHIB), the most hyped meme coin that took the world by storm, generates curiosity about its future value. In this article, our crypto experts have provided the Shiba Inu Monthly Technical Analysis For 2024, which will be helpful for investors. However, it’s essential to consider that these predictions are just a hint of a future filled with uncertainties. Let’s understand this coin better regarding its future and upcoming projects.
Overview Shiba Inu Monthly Technical Analysis 2024
- As of 29 February 2024, the Shiba Inu Crypto price is $0.00001434; this number can change rapidly because of its volatility.
- Shiba Inu’s’ Fear and Greed Index is 66%(Greed).
- Investing in Shiba Inu when the market has been fearful for a long time and selling when greed is at its peak is always recommended.
- The all-time high value of the Shiba Inu was recorded at $0.00008616 on October 28, 2021.
- The all-time low value of the Shiba Inu was $0.0105637 in November 2020.
- Our prediction for the Shiba Inu (using the LSTM method) till the end of 2024 will be the maximum value of $0.030113 and may drop to a minimum value of $0.009422.
Forecast Shiba Inu Monthly Technical Analysis Table for 2024
| Year 2024 | Maximum Prediction | Minimum Prediction |
| January | 0.000010211497 | 0.000007903603 |
| February | 0.000013994351 | 0.000010115916 |
| March | 0.000015706308 | 0.000011439863 |
| April | 0.000012362192 | 0.000010851345 |
| May | 0.000011696889 | 0.000009553542 |
| June | 0.000011841046 | 0.000008319585 |
| July | 0.000011446018 | 0.000009517017 |
| August | 0.000013961952 | 0.000011020650 |
| September | 0.000013594127 | 0.000010906105 |
| October | 0.000014413907 | 0.000010608224 |
| November | 0.000013396552 | 0.000010898691 |
| December | 0.000012537579 | 0.000010827493 |
What Changes Did Shiba Inu Make This Time?
We have mentioned some potential changes and developments related to Shiba Inu (SHIB) based on current information and ongoing trends.
Focus on Digital Identity
- Shiba Inu will prioritize its digital identity project, Shibdentity, in 2024. This project aims to offer users a unique, recognizable web3 identity as a “Shib Name” and establish it as a global standard.
- Shib Names could function similarly to usernames or handles in the traditional internet space but within the decentralized web3 environment.
Shibarium Update
- Rumors and speculation surround a potential launch of Shibarium, a layer-2 scaling solution for the Shiba Inu ecosystem, sometime in 2024. This solution could address scalability concerns and potentially reduce transaction fees on the Ethereum network, where SHIB currently operates.
- However, the official release date of Shibarium remains unconfirmed as of February 2024.
Uncertain Price Performance
- Predicting the future price of any cryptocurrency is inherently tricky and unreliable. As of February 2024, experts offer conflicting predictions regarding SHIB’s price. Some speculate potential future growth, while others advise caution due to the cryptocurrency’s volatile nature and the overall market conditions.
Overall, 2024 could see developments for Shiba Inu in digital identity and scalability solutions. However, it’s vital to remember that these are just potential developments, and the actual future of Shiba Inu depends on various factors beyond these.
Why Shiba Inu in 2024?
There are several reasons why people might be interested in Shiba Inu (SHIB) in 2024; despite its current volatility and uncertain future, let’s understand those points in detail.
Potential for Growth
SHIB experienced remarkable price gains in 2021, capturing public attention and attracting new investors. While past performance doesn’t guarantee future results, some investors might be drawn to the possibility of similar growth in 2024.
Community Hype
SHIB has a large and active online community, which can contribute to increased interest and potential price fluctuations. However, it’s crucial to remember that community hype is needed to guarantee lasting growth.
Developments in the Shiba Inu Ecosystem
As previously mentioned, 2024 could see advancements for SHIB by introducing Shib Names and the possible launch of Shibarium. These developments might entice some investors who believe these advancements could contribute to the project’s long-term value.
Speculative Investment
Some individuals might be interested in SHIB as a speculative investment, hoping to buy at a low price and sell at a significantly higher price. This approach carries significant risk and requires a high tolerance for potential losses.
What is the Use Cases of the Shiba Inu
Shiba Inu (SHIB) currently has limited established use cases. Here’s an overview of its current and potential uses:
Current Use Cases
- Meme Coin: SHIB initially gained popularity as a meme coin inspired by Dogecoin (DOGE). While this doesn’t provide inherent utility, it can contribute to hype and influence the price through community sentiment.
- Decentralized Exchange (DEX) Participation: SHIB can be used on ShibaSwap, a DEX built on the Ethereum network. Users can swap SHIB for other cryptocurrencies, participate in liquidity pools, and earn rewards.
Shib Names: The proposed Shib Names project aims to offer users a decentralized web3 identity in the form of a “Shib Name.” While the specific applications of Shib Names are still under development, they could potentially be used for various purposes in the future, such as
- Login credentials: Shib Names could be used as login credentials for dApps and other services within the web3 space.
- Digital wallets: These names could be integrated for improved user experience and identity management.
Model Performance of Shiba Inu
Shiba Inu Monthly Technical Analysis for 2024
Our Crypto Market Expert analysis predicts the maximum Shiba Inu coin Monthly Technical Analysis (using the LSTM Model) in 2024 may reach around $0.000015706308, and the lower value will be around $0.000007903603.
Monthly Forecast Value of Shiba Inu for 2024
Monthly Forecasted Column Chart of Shiba Inu for 2024
Shiba Inu Crypto Monthly Technical Analysis for February
The Shiba Inu Crypto Coin monthly technical analysis for February 2024 may reach the maximum value of $0.000013994350 and go down to $0.000010115916.
Shiba Inu Crypto Monthly Technical Analysis for March
Our research team predicts the highest value of the Shiba Inu Crypto coin in March 2024 will be around $0.000015706308, which may go down to $ 0.000011439863.
Shiba Inu Crypto Monthly Technical Analysis for April
Our crypto experts assume the highest value of the Shiba Inu Crypto coin in April 2024 to be around $0.000012362192, which may be down to $0.000010851345.
Shiba Inu Crypto Monthly Technical Analysis for May
Our research team predicts the value of the Shiba Inu Crypto token in May 2024 will reach the maximum value of $0.000011696889, and the lower value may be around $0.000009553542.
Shiba Inu Crypto Monthly Technical Analysis for June
We expect the Shiba Inu Crypto coin token to reach its highest value of $0.000011841046 in June. It may touch the lower value of $0.000008319585.
Shiba Inu Crypto Monthly Technical Analysis for July
According to our research team, Shiba Inu monthly technical analysis will reach the highest value of $0.000011446018 and the lowest value of $0.000009571017 in July.
Shiba Inu Crypto Monthly Technical Analysis for August
The prediction of the Shiba Inu Crypto coin for August 2024 will be the highest value of $0.000013961952, which may touch down to $0.000011020650.
Shiba Inu Crypto Monthly Technical Analysis for September
We predict the Shiba Inu Crypto coin value will reach the maximum of $0.000013594127 and may go down to $0.000010906105 in September 2024.
Shiba Inu Coin Monthly Technical Analysis for October
For October 2024, our prediction for the Shiba Inu coin’s peak value will be around $0.000014413907, which may be down to $0.000010608224.
Shiba Inu Coin Monthly Technical Analysis for November
The maximum value of the Shiba Inu coin for November 2024 will be around $0.000013396552, which may be down to $0.000010898691.
Shiba Inu Coin Monthly Technical Analysis for December
Our research team predicts that the Shiba Inu coin may reach a maximum value of $0.000012537579 and be down to $0.000010827493 by December 2024.
Methodology
- The Shiba Inu (SHIB-USD) dataset, spanning from August 01, 2020, to February 11, 2024, has been meticulously compiled from Yahoo Finance, offering a comprehensive repository of historical pricing and market data crucial for detailed analysis and forecasting.
- Utilizing the Long Short Term Memory (LSTM) model, our forecasting of Shiba Inu (SHIBA-USD) prices has been executed with meticulous precision, projecting trends and price fluctuations up to the year 2024. This methodology is highly regarded for its effectiveness in capturing underlying patterns within time-series data.
- Leveraging the inherent advantages of LSTM, tailored for precise analysis, the model adeptly focuses on recent data trends.
- To ensure a thorough projection, forecasting periods have been extended to 365 days, allowing for a comprehensive examination of market trends and insights into potential price movements over a one-year span.
- Post-forecasting, outcomes have been diligently categorised into monthly segments, facilitating a detailed analysis of price movements and differentiation between High, Low, and Average values for each month.
- To enhance interpretability, graphical representations have been incorporated. These visualisations offer a comprehensive overview of forecasted trends, aiding in pattern identification and fostering a deep understanding of market dynamics for the entire forecasting period.
FAQs On Shiba Inu Monthly Technical Analysis
Here, we have answered some of the frequently asked essential questions that might clear your doubts, so read this section carefully.
Q. What is Shiba Inu Crypto’s current price (SHIB)?
As of 29 February 2024, the Shiba Inu Crypto price is $0.00001434; this number can change frequently because of its volatility.
Q. What are some factors that could affect the price of Shiba Inu?
Several factors can influence the price of SHIB, including.
- Market adoption: Widespread adoption by individuals and institutions can significantly impact the price.
- Developments within the Shiba Inu ecosystem: Successful projects like Shibarium and Shib Names could add utility and potentially increase value.
- Overall cryptocurrency market trends: The general performance of the cryptocurrency market can significantly impact individual currencies like SHIB.
Q. Where can I buy Shiba Inu?
SHIB can be purchased on various cryptocurrency exchanges, but choosing a reputable and secure platform is crucial. Before investing, ensure you understand the exchange fees and trading conditions.
Conclusion
While the predictions offered in this article glimpse the potential future scenarios of the Shiba Inu coin, it’s crucial to remember that the cryptocurrency market is inherently volatile and unpredictable. As per our research, this coin has the potential to become successful in the future, but it highly depends on the market competition and community. We have given all possible future data of this top-rated meme coin. Hopefully, the Shiba Inu Monthly Technical Analysis For 2024, 2025-2030 will help many investors to assume Shiba Inu’s situation in terms of investment.
