June 7, 2024 4.55pm CEST
| 3 min read
Most of the cryptocurrency market assets start to do significant progress and it looked like that too Shiba Inu (SHIB) was no exception, having already gained almost 9% of its price in 24 hours. So much so that AI machine learning algorithms predict further gains.
At the time of writing this article, however, the SHIB token it ran into a sudden correction and is now retracing with a decline of 2.75%; Shiba Inu had almost recovered from last week’s underperformance, continuing on its path to make this year an exceptionally successful year in which it has already gained almost 213%, thanks to positive developments such as a surprising increase in the number of new accounts on Shibarium.
SHIB price prediction
What will happen to the price of Shiba Inu? According to the advanced algorithms used by the cryptocurrency analysis and prediction platform PricePredictionsSHIB could reach the price of $0.000029 by June 30, 2024, but it is important to underline that these projections date back to Wednesday June 5, therefore before the current retracement.
If these forecasts – which are based on technical analysis indicators such as the relative strength index (CSR), the moving average convergence/divergence (MACD) and others – if they came true, they would represent an increase of more than 14% compared to the price of Shiba Inu at the time of writing the article.
SHIB price analysis
After the sudden drop mentioned above, the data of CoinMarketCapupdated at the time of writing the article, indicate that the SHIB token it is traded at the price of 0.00002498 dollars, marking a decline of 2.21% in the last 24 hours and 4.16% in the last seven days. On its monthly chart, however, SHIB marks an increase of 10.37% and an increase of 213.48% on the yearly price chart.
The welcome upward price change, which held until an hour ago, coincided with a significant increase in activity on the blockchain platform Shibarium which, as indicated in the graph below, saw the number of new accounts increase by 3,336.67% in just 24 hours, going from 30 on June 3rd to 1,037 on June 4th.
Still in the same graph, however, we can see that the number of new registered accounts has dropped drastically again, dropping to 64 on 6 June, and this is most likely precisely the cause of the recent and sudden drop in the price of SHIB.
In any case it is worth noting that Davinci Jeremycryptocurrency trading expert and user of Bitcoin (BTC)recently shared his opinion that the price of Shiba Inu will soon recover, claiming that the asset, currently 11th in the cryptocurrency rankings by market capitalization, will reach $0.00006an increase of 132.65% from current levels.
Everything considered, SHIB it could actually reach the expected price by the end of the month, provided the positive sentiment continues. However, things in this industry can sometimes change on a whim, so it’s crucial to do your due diligence and keep up to date on Shiba Inu news and trends.
Cryptocurrencies are highly volatile and unregulated. No consumer protection. A profit tax may apply.
PlayDoge: the Tamagotchi lives on the blockchain
A new memecoin project is reviving an old glory of video games, the Tamagotchibringing it into the world of blockchain.
The project is called PlayDoge (PLAY) and recently launched its pre-sale, which has already raised more than $2.9 million.
The native cryptocurrency of the PlayDoge platform, the PLAY token, is a memecoin that currently only has a staking utility. But after the pre-sale ends, the developers will launch the gaming mobile app Play-to-Earn and the PLAY token will act as a virtual currency that can be used in the game, as well as being able to be traded once it is listed on exchanges.
Currently, the PLAY token is available at the unit price of $0.00504 but, as soon as the presale moves to the next phase, the price will undergo a further increase. This is why it is advisable, for those who are interested, to quickly participate in the presale, in order to position themselves as early adopters and ensure maximum profit at the time of the official listing on the exchanges.
Cryptocurrencies are highly volatile and unregulated. No consumer protection. A profit tax may apply.
 price for June 30, 2024){kind=link}