As the end of July 2023 approaches, Shiba Inu (SHIB) draws attention from investors who anticipate further developments in the cryptocurrency market.
Recent SHIB Performance
At the time of writing, Shiba Inu (SHIB) is trading at $0.00001178, reflecting a 3.82% increase in the past 24 hours, although it is still down 6.28% over the last month. The forecast by Google Gemini suggests a potential recovery trend in the coming weeks.
Analyst Views on an Upcoming Altseason
Google Gemini’s forecast aligns with analysts' expectations regarding a potential resurgence of altcoins. Analyst CryptoBull predicts a substantial shift of capital flows from Bitcoin into altcoins in the next three months, indicating that this market dynamic could lead to price gains in altcoins.
Ecosystem Developments and Market Sentiment
The anticipated altseason could positively impact Shiba Inu, which remains one of the most traded altcoins. Recent developments, including increased adoption in decentralized finance and a surge in token burns, may enable Shiba Inu to benefit from an upcoming market rally.
Google Gemini's forecast reflects moderate optimism for SHIB, as market participants hope for gradual price increases contingent upon improving market conditions.
