Shiba Inu Price Prediction: What Experts Say About SHIB’s Future
As of 10:30 a.m. EST, the Shiba Inu price has gone up more than 3% in the last 24 hours and is now worth $0.00000815.
In the past month, SHIB has gone up 13%. On Monday, it hit a high of $0.0000852, which was the highest level it had seen in almost three months.
Its 24-hour trade volume is up 35%, which shows that investors are more interested than they were on October 19. Along with on-chain data and the technical setup, this is another basic sign that prices will rise over the next few days or even weeks.
More Shiba Inu are leaving exchanges, which suggests that the SHIB Army has chosen to keep holding on to their tokens. According to data from Santiment, the amount of SHIB tokens held on exchanges has been going down over the last few days as more tokens have been leaving the system.
When money leaves an exchange, it means that buyers don’t want to sell. Instead, they are moving their assets to private storage because they think the price will go up soon, which is good for the well-known meme coin.
SHIB Exchange Outflows
Price Analysis of Shiba Inus
The price of Shiba Inu was at the support level of $0.00000815, and sellers were eager to bring it down. If this level is closed by a daily candlestick above it, it means that the bulls are defending it strongly.
They would have to push Shiba Inu up against resistance at the 200-day Exponential Moving Average (EMA) level of $0.00000833 and then again at the $0.00000950 level.
If it goes up above that, the next obvious step would be for the “Dogecoin-killer” to lower one of the zeros to the psychological level of $0.000010. If this happened, a lot of people would buy SHIB, and it would rise to hit the $0.00001066 resistance mark. The price would go up by 31% from what it is now.
SHIB/USD Daily Chart
At 60, the Relative Strength Index (RSI) is still above the middle line and in the positive area. The Awesome Oscillators (AO) are also still in the positive area. These support the idea that prices will go up.
At $0.00000760 and $0.00000775, where the 50-day and 100-day EMAs met, the moving averages also offered strong support on the downside. If someone tried to pull SHIB below these levels, there would be a lot of buying from these levels.
On the other hand, if the daily candlestick closes below $0.00000815, the price of Shiba Inus could go down, which could turn the moving averages back into support.
The price of the second most valuable meme coin by market value could reach psychological levels of $0.0000075 and $0.00000t0 if selling pressure rises.
The sell-off could cause the Shiba Inu price to test the support floor at $0.00000650 in the worst case. Such a move would mean a 20% drop from where things are now.
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The Shiba Inu price has increased by over 3% in the last 24 hours, reaching a high of $0.0000852. The 24-hour trade volume is up 35%, indicating increased investor interest. More Shiba Inu are leaving exchanges, suggesting the SHIB Army is holding onto their tokens.
If the price rises above $0.00000815, it could reach psychological levels of $0.0000075 and $0.00000t0. If selling pressure rises, the price could test the support floor at $0.00000650, causing a 20% drop.