In 2023, Shiba Inu (SHIB) faced challenges, even with the introduction of a noteworthy layer-2 network. The cryptocurrency has encountered difficulty in gaining traction, evidenced by a 3.9% decrease in the past week and a 6.2% dip in the 14-day charts. Despite these setbacks, SHIB has shown resilience, recording a 7.2% increase over the last month.
Shiba Inu (SHIB) Price Prediction for December
According to PricePredictions’ machine learning algorithm, SHIB is projected to reach $0.00000891 on December 5, 2023, indicating a growth of approximately 7.22% from its current levels. The platform foresees a continued upward trend for SHIB throughout most of December, with the possibility of shedding a zero after its decimal point in mid-December.
In contrast, CoinCodex predicts a decline for Shiba Inu (SHIB) to $0.00000718 by December 8, 2023, representing a drop of around 13% from its present value. CoinCodex expects SHIB to fluctuate between $0.00000750 and $0.00000880 for the majority of December, with no anticipation of losing a zero after its decimal point during the month.
Changelly’s forecast suggests a decrease in SHIB’s value to $0.00000794 by December 5, 2023, reflecting a 4.4% decline from current levels. However, the platform anticipates a subsequent increase in the token’s price to $0.00000918 by December 26, 2023, marking an uptick of approximately 10% from its current value. Despite a relatively subdued performance in 2023, analysts remain optimistic about SHIB’s potential to regain momentum in 2024.
Projected factors contributing to this include another bullish phase in the crypto market, driven by Bitcoin’s (BTC) halving and potential approval of a spot BTC ETF (Exchange Traded Fund) by the SEC (Securities and Exchange Commission). Analysts foresee the possibility of SHIB reaching a new all-time high in 2024, surpassing its previous peak of $0.00008616 in 2021.