Shiba Inu Price Prediction – Can SHIB Reach $1 in the Next Bull Market?
Shiba Inu price prediction remains bullish above $0.0000088 as it has closed Doji and spinning top candles above this level. Most of the bullish trend has been caused by an increase in Shiba Inu trades that has topped $1 billion.
Several changes have occurred in the Shiba Inu ecosystem in recent months. The number of meme currency holders has grown, and community-led burning has taken center stage in the midst of this.
Despite these changes, the SHIB price has remained steady.
SHIB Metaverse Team Has Unveiled Two New Hubs
Earlier this week, the SHIB team announced two new metaverse hubs and shared concept images on Twitter. The first, the Dunes, is an oasis, a “massive, shaped, modern” environment with magnificent structures and chilly waters for daring visitors.
Shiba Inu’s ‘SHIB the Metaverse’ recently unveiled its new concept art, named Dunes. After several weeks, a new update was revealed which looked promising for the much-awaited metaverse project. #ShibaArmy #Shibarium #SHIB #Crypto #Cryptocurrecies #CryptoNews— Marco – cryptohulkemist.eth (@CryptoHulkemist) November 17, 2022
The second piece of concept art depicted the tech trench hub. Reputable academic institutions and universities influenced the latter’s design. Yale and Princeton in the United States are among them, as are Otemon Gakuin University, Mode Gakuen Cocoon Tower in Japan, and the Rolex Learning Center in Switzerland.
Shiba Inu (SHIB) Uncovers Tech Trench HUB For SHIB: The Metaverse— Brenda Thomas (@BrendaIThomas) November 16, 2022
Furthermore, as the well-known meme coin prepares to become a self-sufficient ecosystem, the Tech Trench HUB will undoubtedly be a genuine location where community distribution of cultural learning experiences can be discovered.
In addition, in July, the SHIB development team worked on the metaverse with The Third Floor (TTF), a significant visualization company. As a result, the announcement of two new hubs may benefit Shiba Inu.
On October 29, Shytoshi Kusama, who is working on the Shibarium project, stated that he was “head down working.”
I believe you will enjoy the upcoming update.”
It was still being determined what this upgrade would include at the time. On October 9, the first indication of the Shibarium update was released.
Twitter user Lucie included a screenshot of a Kusama post in a tweet. According to the post, the developer thought it would be great to test Shibarium using SHIB’s metaverse game.
After the initial tweet a few weeks later, the price of SHIB briefly fell before beginning a multi-day upward trend. Despite the price decline, SHIB investors may have some good news to look forward to, which may cause the SHIB/USD pair to outperform other altcoins.
SHIB Burning Portal Reveals Strategy to Boost SHIB Price
Shiba Inu’s community-led burning has taken center stage, but it’s still keeping the SHIB price steady. However, Shibburn, a well-known platform, pointed out that it was different from how the burn process worked, while the community has been requesting that burn portals destroy more SHIB to raise the price.
Shibburn stated in a tweet on November 15 that burns alone would not drive the price of SHIB.
Supply + Demand, that's what drives the price up. Burning is equivalent to "someone buying $100" in tokens and never "selling it", since it's locked forever. Imagine a team telling their holders that burning has no effect in price when their supply is in the quadrillions.— Shibburn (@shibburn) November 14, 2022
According to the burn portal, several additional strategies would reduce the supply of SHIB. It includes the long-awaited release of Shibarium.
The Layer-2 method aims to transform the meme currency into a self-sustaining ecosystem. The soon-to-be-released SB Visa Card will also be beneficial. SHIB also has a Web 3.0 initiative called SHIB, the Metaverse.
Given that more than half of the total supply of SHIB has already been depleted, the potential expansion of SHIB’s burning mechanism could result in another bull run for the SHIB.
Shiba Inu Price Prediction
The current Shiba Inu price is $0.000009, and the 24-hour trading volume is $121 million. Shiba Inu has decreased by less than 0.50% in the previous 24 hours. CoinMarketCap now ranks 13th, with a live market cap of $5 billion.
The circulating supply is 549,063,278,876,302 SHIB coins.
The SHIB/USD has formed a symmetrical triangle pattern on the 4-hour timeframe, which is supporting it near $0.0000088. A bullish reversal is more likely if Doji and Spinning top candles close above this level.
Shiba Inu may be exposed to the $0.0000085 level if it breaks below $0.0000088.
Investors should look to buy $0.0000088 because the RSI and MACD are both in the buy zone. Shiba Inu may face immediate resistance near $0.0000095 or $0.0000099 on the upside.
Top Coin Alternative – Dash 2 Trade
In less than a month, the Dash 2 Trade presale has already raised more than $6.4 million. This sum reflects the high regard for the Ethereum-based trade intelligence platform.
The platform, which is set to launch in the first quarter of 2023, will provide investors with real-time analytics and social data.
The presale stage 3 raised $6,453,940 out of a total of $8,757,000 at a rate of 1 D2T = 0.0513 USDT.