Market Analysis for SHIB June 2023

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Last Updated on May 31, 2023 by Bitfinsider

In early May of 2023, Shiba Inu added an additional ‘zero’ to its price. In the past 50 trading days, SHIB’s performance relative to the indexes has been negligible, and the stock has been consistently declining. Its ecosystem tokens Bone and Leash are also down 16% and 18%, respectively, in the last thirty days.

Shiba Inu is currently trading at $0.00000869 and has been declining for ten consecutive days. The dog-themed token failed to garner favourable sentiments as the price decline dampened investors’ optimism. Investors’ reluctance to initiate a position in SHIB suggests that the stock’s excitement has subsided. The sentiment of “buy the dip” has lost its value as the token falls further each day.

Changelly, the market leader in on-chain metrics and pricing predictions, painted a bearish picture for Shiba Inu in June 2023. According to Changelly, the price of SHIB may plummet below $0.000007748 within the next 30 days. The price forecasting firm predicted that by the end of June 2023, Shiba Inu could reach a low of $0.000007627. This represents a decrease of roughly 14.1% from the current price.

Before accepting an entry-level position at SHIB in June, it is advisable to exercise caution. In the next five weeks, the token has a greater possibility of travelling south than it does of travelling north.

How to buy or trade SHIB on ProEX

You can buy or trade SHIB on ProEX. As ProEX frequently holds campaigns and events, you should check out its event page here to see if you can participate and win rewards as you trade.

On ProEX, you can trade SHIB as a spot pair (SHIB/USDT) in 3 simple steps:

  1. Sign up and register an account on ProEX 
  2. Buy USDT via ProEX One-click Buy 
  3. Trade SHIB/USDT at ProEX Spot

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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.