Shiba Inu (SHIB) has posted an impressive 8% increase over the past week, drawing attention from traders and analysts alike. As the memecoin gears up for the weekend, market observers are speculating about how much higher it can climb.
Shiba Inu Shows Resilience Despite Market Dip
Currently priced at $0.00001397 and ranked 16th globally in the cryptocurrency market, Shiba Inu has shown strong resilience in recent days. Over the past 24 hours, SHIB has risen by 5.1%, marking an 8.04% increase for the week. Despite experiencing a 1.3% dip over the past month, the recent uptrend has investors and enthusiasts optimistic about its near-term potential.
Weekend Price Projections for SHIB
A recent analysis by Changelly suggests that Shiba Inu could see significant movement over the weekend. Projections place the token’s price between $0.00001716 and $0.00002212, representing a substantial potential upside from its current value.
SHIB/USD 24-Hour Chart Source: CoinGecko
Looking beyond the weekend, technical analysis for 2024 remains positive for Shiba Inu. Analysts predict a minimum price of $0.0000131, with a maximum of $0.0000210. The average trading price is expected to hover around $0.0000289, indicating continued long-term growth.
Risk Management Key Amid Market Volatility
As Shiba Inu enters the weekend with heightened expectations, investors are urged to remain cautious. The token’s movement will largely depend on overall market conditions, and due diligence and risk management are essential for navigating any potential volatility.
