Shiba Inu is celebrating its fourth anniversary this month, as the token was launched on August 1, 2020. It made a handful of early investors millionaires in a short period of time and outperformed all leading cryptocurrencies between 2020 and 2021. SHIB has survived the onslaught of the cryptocurrency market for four years now and has many more years ahead of it.
Also read: Shiba Inu: 5.9 trillion SHIB for sale, is another drop imminent?
The dog-themed token is currently trading around the $0.000015 mark and is trending mostly downwards on the charts, having fallen by almost 10% in the last 14 days without any price jumps in the indices. The development is testing the patience of investors as they hold Shiba Inu in the hope of making profits. In this article, we explain how high or low Shiba Inu could trade in its birthday month of August 2024.
Also read: Shiba Inu: Now you can become a SHIB millionaire for just $16
Shiba Inu Birthday Monthly Price Prediction for August 2024
Leading on-chain metrics and price prediction company CoinCodex has painted a pessimistic picture for Shiba Inu in August 2024. According to the price prediction, there is a greater chance of SHIB drifting into the red zone than remaining on the greener side of the spectrum. The price prediction estimates that SHIB could fall by more than 3% by the end of August 2024.
Also read: SHIB or Pepe Coin: Who will reach 1 cent first?
Therefore, an investment of $1,000 could turn into $970 if the prediction turns out to be accurate. That’s a loss of $30 in 30 days that could cause investors’ portfolios to go into the red. It is recommended to remain cautious before taking an entry position in Shiba Inu in its birthday month of August 2024.
At press time, SHIB was trading at $0.00001588 and is down almost 4% in 24-hour daily trading. SHIB is also down almost 82% from its all-time high of $0.00008616 that it reached in October 2021. It has been three years since the dog-themed token regained its former glory.
