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After a lackluster performance in 2023, Shiba Inu (SHIB) has experienced a notable turnaround, registering a 136.1% surge in the weekly charts, a 131.9% increase in the 14-day charts, and an impressive growth of over 150% in the previous month. Surpassing its long-standing resistance at $0.00001, SHIB’s recent rally is gaining attention. The recent upswing in SHIB’s value is potentially influenced by Bitcoin (BTC) reclaiming the $63k level, triggering a broader market rally. This surge has propelled SHIB to the 12th position in terms of market capitalization.

 

 

 

However, Changelly offers a contrasting viewpoint, predicting a bearish scenario for Shiba Inu (SHIB) in March. The platform foresees a decline to $0.00001795 by March 12, 2024, reflecting a 21.17% drop from current levels. Changelly anticipates SHIB to trade within the range of $0.000018 and $0.000020 throughout the month, with a maximum yearly price projection of $0.0000219978.

 

 

 

 

Telegaon presents a more optimistic outlook, projecting a maximum price of $0.0000571 for Shiba Inu (SHIB) within the year. Achieving this target would signify a remarkable growth of over 150%.

 

The potential trajectory of SHIB remains closely linked to Bitcoin’s (BTC) performance. If BTC continues on its bullish path, SHIB might follow suit. The impending halving cycle for BTC in April could usher in another bullish phase, possibly reclaiming its all-time high of $69,044. Such a resurgence in BTC could have a cascading effect, leading other assets, including SHIB, to retest their respective highs.

 

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