Will SHIB Boom Or Tank?

Shiba Inu is once again grabbing the headlines. SHIB is currently retracing its steps and trading at a low price of $0.0000136. With bustling news of the Iran-Israel war, Bitcoin may take a dip in the process, drastically affecting the prices of altcoins. Here’s how Shiba Inu may perform in mid-August 2024.

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Shiba Inu: Technical Analysis

Impact of the Israel-Iran War

The brewing Israel-Iran War is now catching pace. With new intelligence reports at hand, the news of Bitcoin tanking to new lows is raging on the internet, with speculatory bandwagons running in full swing.

A notable X-handle trader has posted how Bitcoin may document a steep fall in its price if the war situation worsens. BTC can hit as low as $38K, significantly impacting the altcoin market. The situation can propel SHIB to document a new low, which may take a while for the token to recover and redeem.

CoinCodex Analysis

The technical platforms, however, tell a different story. According to CoinCodex, SHIB may document a surge in its price. Per CC, SHIB can hit the $0.00002136 price mark by August 20, rising 57%.

“The Shiba Inu price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these Shiba Inu projections, SHIB will be changing hands at $0.00002152 on August 19, 2024, gaining 58.35% in the process.”

SHIB Technical Analysis by Changelly

According to Changelly, SHIB may claim the $0.00002176 price mark by August 20.

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By the end of this month, SHIB may peak to trade at $0.0000224.

“Crypto analysts expect that at the end of summer 2024, the SHIB price will be around $0.0000224. In August 2024, the Shiba Inu cost may drop to a minimum of $0.0000135. The expected peak value might be $0.0000314 in August 2024. Potential ROI: 124.3% ”