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Shiba Inu Price Prediction as SHIB Spikes Up 4% – Here’s Where It’s Heading Next

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Shiba Inu price chart

The Shiba Inu price is up 1.5% in 24 hours and is among the few top 100 cryptocurrencies in the green. Investors have recently been shifting attention back to the global meme market while Bitcoin (BTC) and Ethereum (ETH) struggle to sustain key support areas.

Shiba Inu Price on The Move After Mysterious Countdown Alert

The decline in the price of Shiba Inu that has occurred over the past several weeks began to slow down shortly after an unexplained countdown was posted on the project’s Twitter account. Prior to the countdown, users were asked to allow the Domain Name Service (DNS) to propagate correctly.

It is possible that the Shiba Inu community is hoping that the price of Shiba Inu will increase and reach $1, potentially supported by the introduction of two new tokens called LEASH and BONE. The Shiba Inu Incubator is also reportedly involved in the mysterious countdown, which involves the promotion of a potentially innovative reward system.

Shiba Inu Price Prediction: SHIB Eyes A 66% Breakout

Shiba Inu price is preparing to chew another zero after rebounding from support at $0.000008. After printing three consecutive green candles, the second-largest cryptocurrency trades at $0.00000871. A break is required above the token’s immediate resistance at $0.000009.

Such a move could be strong enough to push Shiba Inu price to tag resistance at $0.00000946, reinforced by the 50-day Exponential Moving Average (EMA) (in red). It is worth mentioning that SHIB is also grinding closer to a falling wedge pattern breakout.

For now, the focus is on the bulls’ ability to obliterate the seller congestion at $0.000009. Traders wishing to trigger their long positions may consider doing so after Shiba Inu breaks and holds above the upper trend line of the wedge pattern. 

SHIB/USD daily chart
SHIB/USD daily chart

If Shiba Inu is able to break out of its current pattern, it could potentially experience a 66.45% increase in price, reaching a target of $0.000016. The presence of a falling wedge pattern suggests that a reversal to a bullish trend may be imminent. This type of breakout often leads to a precise and significant movement in price, as indicated by the 66.45% target in this case. This target is calculated by extending the distance between the highest points of the wedge beyond the breakout point, as shown in the illustration.

As traders follow the uptrend, they must watch closely how Shiba Inu price reacts to key levels, especially those highlighted by the 50-day EMA, the 100-day EMA (in blue) and the 200-day EMA (in purple). Movement above any of these moving averages may help signal bullish momentum or its absence.

From the same daily chart, it can be deduced that SHIB is in the bulls’ hands, especially now that the Stochastic oscillator is about to cross above the midline (50.00). Further movement into the overbought region (above 80.00) might call more sidelined buyers into the market, thus propping Shiba Inu price for a sustainable recovery to $0.000016.

Investors Back Optimistic Outlook for Shiba Inu Price

Despite the current volatility in the cryptocurrency market, the number of Shiba Inu (SHIB) tokens held outside of exchanges continues to increase. According to Santiment, there are approximately 866.84 trillion SHIB tokens currently held in non-exchange wallets, compared to 857.63 trillion in September.

It is likely that the price of Shiba Inu will recover as more investors choose to hold their assets outside of exchanges. This trend may indicate that people believe the token has the potential to rally in the future and therefore want to hold onto it for a longer period of time. In other words, the growing number of SHIB tokens held outside of exchanges could be seen as a positive sign for the future value of the asset.

Shiba Inu Supply Outside of Exchanges
Shiba Inu Supply Outside of Exchanges

Altcoins Offering Quicker Returns

Cryptocurrencies have been trading sideways for a few weeks now, leading some traders to start looking at alternatives with more potential in the short term. Listed below are some of the leading presales in the market, allowing investors to get in on the ground floor.

FightOut (FGHT) – Presale Launches

FightOut, a brand-new move-to-earn (M2E) fitness application and gym chain that seeks to bring the fitness lifestyle into web3, has opened its pre-sale and investors think the project could transform the existing web3 M2E landscape. 

While existing M2E applications such as STEPN only track steps and require expensive non-fungible token (NFT) buy-ins to take part, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part.

FightOut’s FGHT tokens are currently selling for 60.06 per 1 USDT, and interested investors are encouraged to move fast to secure their tokens, with the pre-sale having already raised over $2.15 million in just a few days. FGHT is the token that will power the FightOut crypto ecosystem.

Visit FightOut Now

Dash 2 Trade (D2T) – Presale Enters Final Stage

Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with its host of unique features.

These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features. 

Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates and sales recently surpassed $10.18 million. The pre-sale dashboard is going to be released soon, with the development team currently running ahead of schedule. Tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges in around one month.

Visit Dash 2 Trade here

Calvaria (RIA) – Final Presale Stage Now

Major blockchain-based games like Axie Infinity lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria, an up-and-coming play-to-earn battle card crypto game, could be a good alternative. Calvaria seeks to boost crypto adoption by creating a bridge between the real world and crypto, a fun and accessible crypto game.

Investors should consider Calvaria’s RIA token pre-sale. Calvaria has now raised $2.49 million, with a crypto whale scooping up $97.5K in one purchase last week. The presale is in the final stage, with only 20% of tokens left. 

Visit Calvaria Now