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- Shiba Inu (SHIB) has struggled to delete its fifth ‘zero’ in price, causing frustration among investors.
- Leading on-chain metrics and price prediction firm Changelly forecasts a further decline for SHIB, with a potential dip to $0.000007 by the end of June.
Shiba Inu (SHIB) enthusiasts have eagerly awaited the token’s rise in price, hoping to witness it “go to the moon.” However, recent developments have put a damper on these aspirations as SHIB struggles to delete its fifth ‘zero’ in price. Currently trading at $0.00000850, the token has faced a correction for ten consecutive days and has shown little progress in Q2 of 2023.
This downturn has tested the patience of investors and cast doubt on the possibility of a price surge.
Considering the upcoming month of June, many are left wondering if Shiba Inu can recover from its price drop and experience a rally. Leading on-chain metrics and price prediction firm Changelly has offered a bearish forecast for SHIB, indicating that the token may not delete its fifth ‘zero’ in June 2023. According to Changelly’s latest prediction, SHIB could potentially dip further to $0.000007483 by the end of June, representing a downturn of nearly 15% over the next four weeks.
This projection implies that SHIB may fall from its current level of $0.000008 in May to $0.000007 in June, potentially resulting in losses for investors. Therefore, it is advised for individuals to exercise caution before considering an entry position in SHIB during the upcoming weeks. The token’s failure to attract buying pressure in May, coupled with the prevailing negative sentiment, may continue to impact its performance in June.
As SHIB steadily heads south without signs of recovery, investors remain skeptical about its future prospects.
At present, Shiba Inu is trading at $0.00000850, experiencing a 3.5% decline in 24-hour trading. Furthermore, SHIB is down 90.12% from its all-time high of $0.00008616 reached in October 2021.
In other news related to SHIB, the upcoming launch of the Shibarium mainnet has garnered attention. A member of the SHIB team, known as @LucieSHIB on Twitter, has shared some details about the anticipated release. Before the launch of the Layer 2 solution, developers will focus on creating a complete version of the bridge and swap on the Puppynet (Shibarium testnet).
Additionally, ShibaSwap 2 may also be available on the testnet during this period. However, it is important to note that these plans are subject to confirmation.
Multiple stress tests and audits will follow to ensure the safety of customers’ funds on Shibarium. The exact launch date is not yet confirmed, as it depends on successful testing and auditing. While the expected release date falls between Q2 and Q3 of this year, it cannot be guaranteed.
The SHIB development team is diligently working to bring Shibarium to fruition as soon as possible, as shared by Lucie.
As the journey continues for SHIB and the Shibarium mainnet, investors and enthusiasts remain vigilant, closely monitoring price movements and project developments in anticipation of future milestones.
