Weekend Forecast: Shiba Inu (SHIB) Price Prediction

• Shiba Inu (SHIB) Removes a Zero After Decimal Point Amidst Bitcoin ETF Approval Wave
• Dwindling Performance of Shiba Inu in 2023
• Shiba Inu (SHIB) Weekend Price Predictions
• Shiba Inu Struggles Against Other Altcoins

Shiba Inu (SHIB) Removes a Zero After Decimal Point Amidst Bitcoin ETF Approval Wave

The Shiba Inu$0.000010 -2.05% token (SHIB) has successfully eliminated a zero after its decimal point. This notable change in SHIB's price rides on the wave of the Securities and Exchange Commission's (SEC) approval of Bitcoin$42,260 -0.64%'s (BTC) Exchange Traded Fund (ETF). Despite this, the popular memecoin has shown a mixed performance, with a rise of 0.4% in daily charts, 3.2% in weekly charts, and 9% over the past month. However, it has taken a hit with a decrease of over 4% in the fortnight charts.

Dwindling Performance of Shiba Inu in 2023

Although SHIB managed to delete a zero from its price point, the token struggled throughout the year 2023. This was despite the project's launch of a major layer-2 network. Memecoins generally took a backseat during this time, but enthusiasts and investors remain hopeful that the current year will bring a turnaround.

Shiba Inu (SHIB) Weekend Price Predictions

According to digital currency exchange platform Changelly, SHIB's price could reach $0.00001051 by January 13 (Saturday), marking a 3.2% increase from current levels. Further, they anticipate SHIB to surge to $0.00001062 by January 14 (Sunday), a rally of 4.3% from the current price. However, Changelly predicts a return to current SHIB prices by January 15 (Monday).

Contrarily, CoinCodex expects a drop in SHIB's price to $0.00001013 by January 13 (Saturday), a slight fall of around 0.5% from its current level. They also forecast that SHIB will regain a zero by January 17, 2024, and the price will fluctuate between $0.00001 and 0.000009.

Shiba Inu Struggles Against Other Altcoins

Despite its popularity, Shiba Inu has found it challenging to maintain momentum. The memecoin has only seen a rally of approximately 8% since the beginning of the previous year. This pales in comparison to other altcoins, with some experiencing over 100% rallies in the same timeframe, and others, like Solana$104 5.03% (SOL), seeing increases of over 500%. However, changes could be on the horizon for SHIB. The team is developing a new burn mechanism which could significantly decrease the project's supply, potentially driving prices up.

Edited by Jonathan Stoker