Shiba Inu Price Prediction as SHIB Overtakes Toncoin – $1 SHIB Possible?

Arslan Butt
Last updated: | 2 min read

Over the past few hours, the price of Shiba Inu (SHIB/USD) has taken a hit, trading at $0.000030 with a 24-hour volume of $1,543,917,018.

This brings the total market cap of SHIB to $18,784,092,955, ranking it as the 12th largest crypto in the world, according to data from CoinGecko.

Market volatility fuels speculation on the coin’s potential to reach the $1 milestone, given the success of similar dog-themed meme coins such as DogWifHat.

This analysis delves into Shiba Inu’s price predictions, considering its market dynamics and investor sentiment, to gauge the possibility of such a milestone.

Shiba Inu Price Prediction

Shiba Inu’s pivot point is set at $0.000029 which is serving as a baseline for potential upward movement, with immediate resistance observed at $0.000032.

Subsequent barriers at $0.000035 and $0.000038 could challenge bullish advances.

Conversely, support levels at $0.000026, $0.000024, and $0.000020 provide safety nets against further declines.

Indicators like the Relative Strength Index (RSI), standing at 58, suggest a favorable buying environment, potentially buoying SHIB’s ascent.

Shiba Inu
Shiba Inu Price Forecast

Moreover, the 50-day Exponential Moving Average (EMA) at $0.000029 corroborates a bullish sentiment, provided SHIB sustains above this threshold.

A notable formation, the double top pattern at $0.000031, introduces a resistance level that could cap gains unless decisively breached.

In conclusion, Shiba Inu’s market behavior exhibits a bullish potential above the critical $0.000029 mark.

Nevertheless, traders should remain vigilant, as a drop below this level could precipitate a significant sell-off.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.