Shiba Inu is expected to hit US$0.000030 in the next few days after maintaining a good support level for some time. Despite the Cryptocurrency market's continued negative rally, SHIB has sparked a surprising positive trend that will offer the Dogecoin killer advantage in the coming days. Shiba Inu has established a resistance level at US$0.0000227, which has aided the Cryptocurrency's upward trajectory.
Shiba Inu has been hailed as the year's biggest winner. The Dogecoin competitor began the year at US$0.000000000073 and concluded at US$0.000033, representing a staggering 45,000,000 percent increase. Shiba prices have dropped by 63 percent after reaching an all-time high in October. Although SHIB dropped out of the top ten Cryptocurrency list and was replaced by Dogecoin, the notorious Shiba army remained optimistic about the digital asset. Fortunately, investors who bought Shiba Inu in the prospect of a bull run are now seeing light at the end of the tunnel. The current flip from the resistance point is predicted to come into contact with a disagreeing triangle, where it may be rejected. However, forecasts indicate that SHIB would easily overcome the rejection and do well in the next months.
Shiba's price established three swing lows around a critical support level, according to FXStreet. This resulted in a trend reversal, which might potentially lead to a bull run. Even though the Cryptocurrency market as a whole was incredibly bleak, with leading digital tokens suffering back-to-back losses, SHIB managed to expand by 75 percent in the last two months. Finally, the Dogecoin killer has converted its resistance level into a support structure, resulting in a triple bottom. Shiba Inu's price will go on a big bull rally as a result of this reversal pattern.
So, where is the Shiba Inu price going this time? SHIB can hit US$0.0000283 this time, which would be an intermediate high for the currency, according to graphs. However, most of its expansion is reliant on the Shib army and new investors. If the anticipated bull run causes FOMO, the Dogecoin killer will hit US$0.0000326 in a few weeks. In a word, SHIB investors may expect at least a 50% gain for the time being.
When it comes to Shiba Inu, a variety of variables such as acceptance, ease of use, price increases, and so on contribute to its growth. To begin with, ease of access is the most important factor to consider right now. Ethereum has grown in popularity because of the characteristics that allow Cryptocurrency investors to utilize it regularly for trading and purchasing goods. Similarly, increased listing on Cryptocurrency exchanges and participation in leading platforms such as Robinhood might make SHIB incredibly competitive.
Shiba's price skyrocketed in May 2021 when the Cryptocurrency was introduced on Binance and OKEx, which led to Coinbase Global listing it. Later on, the petition to incorporate SHIB on Robinhood played a significant role in propelling the Dogecoin rival to new heights.
Unlike the other Cryptocurrencies, Shiba Inu's growth is mostly reliant on 'whales.' According to research, eight whales held 70% of Shiba Inu as of October 2021, accounting for 41% of the Bitcoin network. As a result, any change in those wallet addresses will have a significant influence on the Shiba price.
Shiba Inu was established mainly as a parody of Cryptocurrency to ridicule Dogecoin. However, once it gained traction with investors, the developers expanded its utility. Shiba Inu is now accepted as a payment mechanism by an increasing number of businesses.
According to experts, the price of a Shiba Inu would never approach US$1. Even if the cryptocurrency becomes a popular choice among investors, its price may not reach an extraordinary level for a variety of reasons. One major goal is to increase its supply. The entire supply of Shiba Inu is 549.1 trillion. If every SHIB token is priced in US dollars, the market capitalization would reach $549.1 trillion, which is unimaginable.