Shiba Inu (SHIB) has experienced incredible success in its four-year history. The project has garnered a loyal fanbase which seems to be growing every year. SHIB’s popularity skyrocketed during the 2021 bull run when its price rallied by many million percent. Since its 2021 peak, SHIB’s price has somewhat struggled to gain momentum, falling victim to the general bearishness over the last two years.
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Shiba Inu’s Current Price Movements
The cryptocurrency market has faced a significant correction over the last week. SHIB’s price follows the bearish trend. The asset is down 3.9% in the daily charts 7.7% in the weekly charts, 24.4% in the 14-day charts, and 11.8% over the previous month. Despite the dip, SHIB has maintained its gains over the last year. The dog-themed cryptocurrency is up 108.5% since December 2023.
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SHIB’s current dip is likely due to the Federal Reserve announcing two interest rate cuts in 2025 instead of three. Inflation in the US also increased to 2.7%. The hawkish stance may have spooked investors away from risky assets.
When Will The Memecoin Hit $0.00005?
SHIB last traded above $0.00005 in November 2021, more than three years ago. The asset has to rally by 125.53% from its current price level to hit $0.00005.
According to Changelly, Shiba Inu (SHIB) will breach the $0.00005 level in 2025. The platform anticipates the asset to hit a maximum price of $0.000059994 next year.
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Telegaon analysts predicted SHIB to hit the $0.00005 price point this year. Telegaon’s forecast is yet to come to fruition. The platform anticipates the dog-themed crypto to trade at a potential maximum price of $0.0000728 in 2025.
There is a possibility that SHIB will go higher than $0.00005 in 2025. President-elect Donald Trump is expected to be quite lenient on the crypto industry. The development could lead to assets hitting new peaks.
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