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Shiba Inu Price Prediction – Is SHIB Preparing for a Breakout?

Arslan Butt
Last updated: | 3 min read

Shiba Inu price prediction will likely remain bearish unless it breaks above the $0.0000101 level. On October 22, the SHIB/USD pair opened the day at $0.00001002. It has ranged between a high of $0.00001007 and a low of $0.00000992. 

Shiba Inu is gaining traction following the announcement that SHIB token holders can now pay for Netflix streaming service subscriptions and Amazon purchases using any of the SHIB ecosystem’s tokens.

Shiba Inu Whale Adds 322 Billion SHIB Tokens

According to statistics, the seventh-largest SHIB Whale purchased 96.74 billion SHIB tokens in a single transaction. The data also revealed that this top Shiba Inu Whale had made significant SHIB token purchases in the previous week. 

Between October 13 and 21, the top SHIB investor added more than 322 billion SHIB tokens to his wallet, now worth approximately $31.9 million. The Whale purchased 131.63 billion SHIB tokens in a single transaction worth roughly $1.4 million, making it his largest SHIB token purchase to date.

After adding these new holdings, this SHIB Whale now owns 15.63 trillion SHIB tokens, which are estimated to be worth $155 million.

Meanwhile, WhaleStats, a well-known blockchain analytics firm, confirmed via Twitter on October 21 that the top 500 Ethereum Whales continue to own the most SHIB tokens. The price of SHIB has risen in response to the positive news about Shiba Inu.

Amazon and Netflix Payments

According to multiple sources, SHIB token holders can now use any of the SHIB ecosystem’s tokens to pay for Netflix streaming service subscriptions and Amazon purchases. Payment with SHIB, BONE, and LEASH tokens is also possible with the FCFPay Visa card, which is accepted by Amazon and Netflix.

On October 21, FCFPay, a Canadian cryptocurrency payment gateway, announced that holders of its crypto cards would be able to pay for goods and services on Amazon. They could also subscribe to popular documentaries, TV shows, movies, and animes on Netflix. 

FCFPay said that consumers’ payments would only be successful if they had enough crypto tokens to cover the transactions they wanted to make. The utility of SHIB has increased investor interest in the meme currency, driving an uptrend in SHIB’s value.

SHIB Army Grew Meme Coin

Shiba Inu has been under intense selling pressure since August. The downward cycle’s sell-off has brought it down to its October low. Investors who participated in the continuous decline are now profiting from the bullish days. 

The SHIB Army is undeniably the driving force behind the growing popularity of cryptocurrency with a dog theme. With its decentralized exchange, the Shiba Inu ecosystem aspires to be the best-decentralized ecosystem (DEX). 

Furthermore, the recent announcement at the beginning of this month that NOWpayments has partnered with Shiba Inu and will use token payments to pay salaries has increased the utility of the meme token. As a result of the valuable events, the price of SHIB/USD is rising.

Shiba Inu Price Prediction

The SHIB/USD pair is trading in a narrow range of $0.0000098 to $0.000010. A break of this range will almost certainly result in a bullish or bearish moment. A break over $0.0000102, on the other hand, can continue an uptrend to $0.0000105 or $0.0000108.

Shiba Inu Price Chart – Source: Tradingview

Shiba Inu might be pushed down to $0.0000094 if $0.0000098 is broken down. Keep a watch on $0.0000098, as an uptrend is anticipated over this level. At the same time, the support level remains at $0.0000094.

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