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Shiba Inu Price Prediction — Will SHIB Hit $0.0001 Soon?

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Shiba Inu Price Prediction — Will SHIB Hit $0.0001 Soon?

  • Bullish SHIB price prediction is $0.00005085 to $0.00008973.
  • SHIB price will also reach $0.00009 soon.
  • SHIB bearish market price prediction for 2022 is $0.00000563.

In Shiba Inu’s (SHIB) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about SHIB to analyze the future movement of the cryptocurrency. 

Shiba Inu Current Market Status

According to CoinGecko, the price of SHIB is $0.00002600 with a 24-hour trading volume of $1,093,167,883 at the time of writing. However, SHIB has increased nearly 7.9% in the last 24 hours.

Moreover, SHIB has a circulating supply of 549,146,987,315,505 SHIB. Currently, SHIB trades in cryptocurrency exchanges such as Binance, OKX, DigiFinex, FTX, and Bybit. 

What is Shiba Inu (SHIB)?

An ethereum based altcoin that features a Japanese breed of hunting dog Shiba Inu as its mascot is known as Shiba Inu (SHIB). It is widely considered to be an alternative to Dogecoin. The Shiba Inu website invites dog-inspired artists from all over the world to foster the artistic Shiba movement as they bring their Shiba Inu community into the NFT market. 

ShibaSwap is the coin’s designated DEX that started as a fork of Sushiswap that has words of Ryoshi, its own little twists, and elements. Ryoshi’s goal for Shiba Inu has been to see if a perpetual decentralized organization could work with no central leadership. 

Pros and Cons of SHIB

Shiba Inu has risen several hundred thousand percent since late January. Traders of cryptocurrency have earned millions in recent years.

Dogecoin (DOGE), Floki (FLOKI), and Shiba Inu (SHIB) are among the top-performing cryptos. The staggering growth in Shiba Inu is enough to cause FOMO. Before investing in Shiba Inu, investors should grasp the benefits and drawbacks. Let us examine the coin’s pros and cons.

Pros of SHIB:

Below mentioned a few pros of SHIB.

Valuable Crypto Brand

Bitcoin, Ethereum, and other popular cryptocurrencies have significant technological benefits. Effective branding is essential in the crowded cryptocurrency market. Shiba Inu has adopted Dogecoin’s meme-friendly branding strategy. Shiba Inu has been trending on social media and spreading like wildfire during its remarkable run. Without a strong technical edge, Shiba Inu may survive or perish based on its brand power.

Shibaswap

The Shibaswap decentralized exchange is one method Shiba Inu developers are trying to promote community and brand. Decentralized exchanges enable users to trade cryptocurrencies without an intermediary. It is one of three cryptos in the Shiba ecosystem. Shibaswap users may now stake their crypto to earn interest.

Users may keep track of their earnings in their “bonefolio” and exchange over 10,000 non-fungible dog-themed tokens with varying features and rarities.

Possible Robinhood Listing

The community has urged the popular trading platform Robinhood to include Shiba Inu on its list of tradeable cryptocurrencies. A Change.org petition supporting Shiba Inu has over 400,000 signatures. After introducing Dogecoin to its platform in the first quarter of 2021, Robinhood claimed $30 million in income from trading Dogecoin. The financial temptation for Robinhood to introduce Shiba Inu trading may soon be too strong to ignore.

Low-cost Shiba Inu Coin

SHIB is currently trading at $0.000026. The price of a crypto trading asset is vital because it helps traders and investors forecast potential profits based on the number of coins acquired. At this pricing, you may expect a 100% profit if SHIB rises to $0.000052. It beats investing in Ether or Bitcoin.

SHIB Exchange Listings

One shouldn’t have to explore finding a digital asset online. This is why a cryptocurrency’s accessibility affects its price. It would be thrilling to have purchasers eager to match your selling price, whether you want to buy, hold, or sell.

SHIB is presently listed on Binance, Huobi Global, OKEx, FTX, and Binance subsidiary WazirX. Moreover,  eToro, one of the world’s major exchanges, is also contemplating Shiba Inu (SHIB).

Cons of SHIB

Below mentioned a few cons of SHIB.

High Volatility

Investors are ecstatic when their investment doubles in less than a year. Regrettably, volatility swings both ways. For investors seeking an adrenaline rush or a gambler’s high, the possibility of a price drop as steep as the rise may be part of the pleasure. Coinbase says Shiba Inu investors retain their coins for an average of 13 days. Long-term investors can be crushed by the sudden abandonment of market speculators and momentum traders.

Lack of real-world utility

Unlike bitcoin and Ethereum, Shiba Inu has no real purpose for investors. Cryptwerk estimates that only 100 worldwide retailers accept Shiba Inu as payment. It’s a smattering of strange crypto-themed companies Shiba Inu’s fees, transaction speed, or structure aren’t distinguishable from hundreds or thousands of other cryptos.

Michael Burry, from “The Big Short,” recently branded Shiba Inu “pointless.” Burry criticized Shiba Inu’s enormous supply of 1 quadrillion coins, claiming it inhibits price appreciation.

Musk Does Not Own It

Shiba Inu is one among many doge-themed coins. Elon Musk, the influential Tesla CEO, has publicly endorsed Dogecoin and acquired a Shiba Inu dog called Floki. However, Musk recently upset Shiba Inu investors by revealing that the only cryptos he truly owns are Bitcoin, Ethereum, and Dogecoin. Musk supporting Dogecoin might not be good news for Shiba Inu investors.

Shiba Inu Coin is an MCAP

SHIB now has a market valuation of $10 billion and a diluted cap of $25 billion. It is important to know that $300 million to $2 billion is small-cap, $2 billion to $10 billion is medium-cap, and $10 billion or more is large-cap.

Analyst View on SHIB

In August 2020, when the meme currency initially appeared, it was purchased for around 70 trillion SHIB tokens. Shiba Inu was then worth $0.000000000189. This Shiba bull began purchasing on day one and currently owns 13% of SHIB’s entire coin supply, approaching 550 trillion.

Shiba Inu has startled even the biggest crypto bulls by edging Dogecoin off the No. 9 slot on CoinMarketCap. From $0.00002749 to $0.00007515 in seven days, the price of SHIB has risen around 170 percent. Shiba Inu has a market valuation of nearly $41 billion. Twitter, by contrast, has a market valuation of almost $42 billion.

Individual investors aren’t the only ones eager to get on board before it’s too late. Film Chain AMC Entertainment is after the meme coin. AMC CEO Adam Aron is polling his fans on whether AMC should accept Shiba Inu internet payments. So far, AMC has agreed to take bitcoin, Ethereum, Litecoin, and Dogecoin.

Michael Burry, of “The Big Short” fame, is not a fan of Shiba Inu. Burry’s tweet implies he doesn’t think Shiba Inu is a good investment due to the abundance of coins.

Shiba Inu (SHIB) Price Prediction 2022

Shiba Inu holds the 14th position on CoinGecko right now. SHIB price prediction 2022 is explained below with a monthly time frame.

SHIB/USDT Triangle Pattern (Source: Tradingview)

Triangle patterns are aptly named because the upper and lower trendline ultimately meets at the apex on the right side, forming a corner. Connecting the start of the upper trendline to the beginning of the lower trendline completes the other two corners to create the triangle. Triangle patterns are important because they help indicate the continuation of a bullish and bearish market. They can also assist a trader in spotting a marketing reversal.

Currently, SHIB is in the range of  $0.00002600. If the pattern continues, the price of SHIB might reach the resistance level of $0.00003484, & $0.00004028. If the trend reverses, then the price of SHIB may fall to $0.00002265, & $0.00001711.

Shiba Inu (SHIB) Support and Resistance Level

The below chart shows the support and resistance level of SHIB.

        SHIB/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of SHIB.

Resistance Level 1 $0.00003303
Resistance Level 2 $0.00004976
Resistance Level 3 $0.00008964
Support Level 1 $0.00001876
Support Level 2 $0.00001203
Support Level 3 $0.00000612
SHIB Resistance & Support Level

The charts show that SHIB has performed a bullish trend over the past month. If this trend continues, SHIB might run along with the bulls overtaking its resistance level at $0.00008964.

Accordingly, if the investors turn against the crypto, the price of the SHIB might plummet to almost $0.00000612, a bearish signal.

Shiba Inu Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of SHIB is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of SHIB lies below the cutoff line, indicating weaker participants in the current trend.

SHIB/USDT RVOL, MA, RSI (Source: TradingView)

More so, the SHIB’s Moving Average (MA) is shown in the chart above. Currently, SHIB is in a bearish state. Notably, the SHIB price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of SHIB at any time.

Meanwhile, the relative strength index (RSI) of the SHIB is at level 41.29. This means that SHIB is in a nearly oversold state. However, this means a major price reversal of SHIB may occur in the upcoming days. So, traders need to trade carefully. 

Shiba Inu Price Prediction 2022 — ADX, RVI

Let us now look at Shiba Inu’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

SHIB/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of Shiba Inu. Currently, SHIB lies in the range of 15.65100327, so it indicates a weak trend. 

From the above chart, the Relative Volatility Index (RVI) of SHIB. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of SHIB lies above the 50 levels, indicating that the direction of volatility is high. In fact, SHIB’s RSI is at a 41.29 level thus confirming a potential sell signal.

Comparison of SHIB with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and Shiba Inu.

BTC Vs ETH Vs SHIB Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the ETH, BTC, and SHIB is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and SHIB also increases or decreases respectively.

Conclusion

With continuous improvements in the Shiba Inu network, we can say that 2022 is a good year for SHIB. For this reason, the bullish price prediction of Shiba Inu in 2022 is $0.00008964. On the other hand,  the bearish SHIB price prediction for 2022 is $0.00000612.

Furthermore, with the advancements and upgrades on the SHIB ecosystem, the performance of SHIB would help to reach above its current all-time high (ATH) $0.00008616 very soon. But, it might also reach $0.0001 if the investors believe that SHIB is a good investment in 2022.

FAQ

1. What is Shiba Inu?

An ethereum based altcoin that features a Japanese breed of hunting dog Shiba Inu as its mascot is known as Shiba Inu (SHIB).

2. Where can you purchase SHIB?

SHIB has listed on many crypto exchanges which include Binance, OKX, DigiFinex, FTX, and Bybit. 

3. Will SHIB reach a new ATH soon?

With the ongoing developments and upgrades within the SHIB platform, it has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Shiba Inu?

On Oct 28, 2021, SHIB reached its new all-time high (ATH) of $0.00008616.

5. Is SHIB a good investment in 2022?

Shiba Inu (SHIB) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of SHIB in the past few months, SHIB is considered a good investment in 2022.

6. Can Shiba Inu (SHIB) reach $0.00009?

Shiba Inu (SHIB) is one of the active cryptocurrencies that continue to maintain its Bullish state. Eventually, if this bullish trend continues then Shiba Inu (SHIB) will hit $0.0001 soon.

7. What will be the SHIB price by 2023?

Shiba Inu (SHIB) price is expected to reach $0.00027 by 2023.

8. What will be the SHIB price by 2024?

Shiba Inu (SHIB) price is expected to reach $0.00034 by 2024.

9. What will be the SHIB price by 2025?

Shiba Inu (SHIB) price is expected to reach $0.00049 by 2025.

10. What will be the SHIB price by 2026?

Shiba Inu (SHIB) price is expected to reach $0.0007 by 2026.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Shiba Inu Price Prediction — Will SHIB Hit $0.0001 Soon?

 

 

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