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Ethereum (ETH) and Shiba Inu (SHIB) have captured significant attention in the crypto market. Both coins have shown distinct price patterns and volatility, positioning them as compelling investments for 2024.
Performance and Market Sentiment
Ethereum (ETH) and Shiba Inu (SHIB) experienced distinct price movements and volatility patterns over the past day. ETH began the day with a notable decline but gradually recovered, stabilizing towards the end.
In contrast, SHIB displayed higher volatility, experiencing more pronounced ups and downs. Despite following a similar trend initially, SHIB’s movements were more exaggerated. By the end of the day, ETH closed around 1% below its starting point, while SHIB ended approximately 2% down.
Source: Coinmarketcap
Both ETH and SHIB exhibit correlated movement patterns, indicating similar responses to market forces or external news. However, SHIB’s higher volatility makes it a riskier short-term investment. ETH’s recovery attempts appear more stable, suggesting stronger investor confidence. By the end of the day, ETH outperformed SHIB, closing with a smaller loss.
Price Trend Analysis
Ethereum’s current price stands at $3,437.73, down by 1.29% in the last 24 hours. Its market cap decreased by 1.30% to $413.29 billion, with a trading volume drop of 19.64% to $15.84 billion.
Ethereum/USD 1-day price chart, Source: Trading view
The RSI reading of 57.13 indicates a neutral position, and the MACD trading above the signal line suggests potential short-term bullish momentum.
Shiba Inu’s price is currently $0.00001776, having fallen by 8.42% over the past 24 hours. Its market cap is $10.47 billion, with a 7.55% decline in trading volume to $470.55 million. SHIB’s immediate support is around $0.00001750, with stronger support at $0.00001700.
ShibaInu/USD 1-day price chart, Source: Trading view
Immediate resistance is at $0.00001850, with stronger resistance at $0.00001900. The RSI reading of 52.27 indicates a neutral market sentiment, and the MACD above the signal line suggests short-term stability.
Future Price Predictions
According to a Changelly blog projection for 2024, Ethereum’s price is expected to range between $3,245.10 and $3,479.65, with an average trading price of around $3,714.20. Coin Edition prediction indicates that the Dencun upgrade, which reduces gas fees, could drive ETH’s price up to $9,657 in 2025. However, a potential bear market in 2026 might see ETH drop to $6,325. By 2027, ETH could fall further to $5,750 due to reduced staking activities and development.
A rebound might occur in 2028, with ETH reaching $12,000. In 2029, increased institutional and retail interest could propel ETH to $15,980. By 2030, despite bearish attempts, ETH might rally to $19,450.
Changelly blog data suggests that Shiba Inu’s price could range between $0.0000181 and $0.0000305 in 2024, with an average of $0.0000429. Coin Edition projection indicates that SHIB might recover to $0.000095 in 2025 as liquidity rotates into its ecosystem. However, profit-taking in 2026 could bring the price down to $0.000051.
By 2027, SHIB is projected to decline to $0.000043 due to prevailing market conditions. However, a potential recovery in 2028 could see SHIB rise to $0.00011. By 2029, analysts anticipate SHIB to reach $0.00028, buoyed by an expanding market share among meme coins. Looking ahead to 2030, SHIB’s price might continue its upward trajectory to around $0.00050. By 2040, despite possible downturns, SHIB could potentially achieve $0.00074.
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