Shiba Inu Price Prediction August 2024 – Will SHIB Set for a Price Rally?

Despite a nearly 10% price drop in the past 24 hours, Shiba Inu (SHIB) is celebrating its fourth birthday this month, which could potentially lead to a price rally.

SHIB used to be a top favorite in the crypto market, turning early investors into millionaires and beating major cryptocurrencies between 2020 and 2021.

This past success, combined with the current price drop, has caught the attention of investors. Some experts think now might be a good time to buy or increase a SHIB investment.

Though the future is uncertain, past trends hint at a possible rebound in August. SHIB fans stay hopeful about the token’s long-term future.

Besides looking into Shiba Inu, it’s also a good idea to check out a new crypto opportunity: Pepe Unchained.

Shiba Inu’s market cap is nearing $8 billion but still lags behind Dogecoin. There’s a chance SHIB could close the gap and even surpass DOGE in the future. The big question now is whether PEPE will outshine both Shiba Inu and Dogecoin in the meme coin space.

The overall crypto market is down, with Dogecoin, Pepe, and Shiba Inu all losing value. The market is down about 4% today, and trading volume has dropped by 13% in the last 24 hours.

The Fear and Greed Index is at 48, showing a neutral sentiment. Bitcoin is around $58,000, and Ethereum is below $3,000. This decline might be a good chance for investors to buy at lower prices.

Shiba Inu has dropped 20% in the past week and about 11% in the last month. This dip might be a chance to buy SHIB at a lower cost. While technical analysis shows a strong sell signal, such signals often come before potential recoveries.

Historically, when Bitcoin falls sharply, meme coins tend to drop too but recover quickly. If this trend continues, Shiba Inu might gain 15-20% in the coming weeks. For example, investing $11,000 in SHIB could lead to a $100 to $200 profit if the price bounces back.

Several factors suggest Shiba Inu might rebound. The coin has grown beyond its meme origins, now featuring a strong ecosystem with Shiba Swap, the SHIB Army, and various NFTs. This makes it less dependent on just price changes.

Also, celebrating Shiba Inu’s fourth anniversary has generated excitement and shown the coin’s lasting appeal and community support. This could spark renewed investor interest and drive up the price.

Technical analysis hints at a possible rise for Shiba Inu. History shows that big drops in Bitcoin often lead to quick recoveries in meme coins like Shiba Inu. With Bitcoin possibly trending up, Shiba Inu might follow.

If you’re looking for investment opportunities that could offer big returns and increase in value during the next bull run, check out our guide here for the best crypto presales of 2024.

Pepe Unchained has grabbed attention since its presale started. The presale has already surpassed $7 million and continues to grow. The supply for the presale is limited, and the price will go up over time. Right now, the presale price is $0.008875, but it will increase later today.

Another incredible milestone! We've raised $7M!