New Delhi: Started as a joke token Shiba Inu’s (SHIB) downfall continues as all the major altcoins are also tumbling in the crypto market. Shiba gathered huge attention and emerged as one of the favored choices of investors but this may not be enough to save it from the bear’s territory.
Its price is currently on a very crucial edge and another plunge from here may lead the price towards the lower support levels below $0.000006 or even $0.00000450. Test of this level will open the way to the test of the support at $0.0000055.
SHIB has granted an interesting offer for the investor as in the coming time it can be the beginning of a sustainable opportunity. Till now Shiba hasn’t accomplished much but it is rare that a newer asset to fall 85% over nine days and immediately rebound back with a good speed. Over the past 2 months, Shiba Inu has methodically charted a bullish inverse head-and-shoulders pattern marked by several false patterns and breakouts.
As per FXSTREET, the 50-day simple moving average (SMA) at $0.00000763 is a key Shiba Inu price level that may restrict a meaningful rally from current prices, as the indicator has been a weight on SHIB since its appearance on June 28. Currently, SHIB is trading about 20% below the moving average.
The Shiba Inu price has stagnated recently and right now trading at $0.00000637, which is actually 90% below its all-time high. It is also between the support and resistance levels at $0.0000056 and $0.0000096, respectively while the Average True Range (ATR) has declined, says Investing Cube.
SHIB investors can initiate a pilot position with yesterday’s low of $0.00000570 which will provide them a room for daily fluctuations but prevents getting caught in a quick sell-off to the lower trend line.
A follow-through on today’s gains will encounter strict resistance at the 50-day SMA at $0.00000763 before a test of the upper trend line of the descending parallel channel at $0.00000883, yielding a return of almost 40% from the current Shiba Inu price, say FXSTREET.
According to CoinMarketCap, the coin has a market capitalization of more than $2.59 billion and is the 33rd biggest coin in the world.
What is the current price?
Right now, SHIB is priced at Rs 0.000490, which means that you can buy almost 2,00,000 Shiba coins in just Rs 100. You can buy Shiba Inu as it is predicted to go up in the near future.
Market Sentiment for Shiba Inu
Based on our SHIB price prediction, a long-term increase is expected; the price prognosis for 2026 is $0.0000670. With a 5-year investment, the revenue is expected to be around +737.5%.Wallet Investor
The analysts believe the price of Shiba Inu will increase in the coming years. It is predicted that by the end of 2021, the price may rise and reach $0.0000202, which is twice the current price.Changelly
Our data indicates that the asset price has reflected a massive bull run for the past year, and it has tremendous long-term earning potential. The future price of the asset is predicted at $0.000018 by the end of this year.GOV Capital
The Shiba Inu price is forecasted to reach $0.0000121 by the beginning of December 2021. The expected maximum price is $0.0000155, minimum price $0.0000105. The Shiba Inu price prediction for the end of the month is $0.0000124.Trading Beasts
As per the latest news, research, and Shiba token price prediction, the coin might cross $0.00001258 by the end of 2021, and by 2025, it may record a new ATH around $0.000040.Digital Coin Price
Based on our analysis, the results are not very encouraging as the bears may be back for SHIB, and the SHIB price may drop to $0.0000009 in 2022 and pose a risk for investors.Reddit Community
