Will SHIB surge soon? Shiba Inu Price Analysis
Shiba Inu(SHIB) is a popular cryptocurrency in the digital currency world. It’s community-driven, decentralized, and recognized for its logo featuring the Shiba Inu dog from the “Doge” meme. This cryptocurrency is famous for its meme-inspired branding and operates on the Ethereum network.
Price Today
As of 26 April 2024, Shiba Inu (SHIB) is currently priced at $0.00002425, and its trading volume in the last 24 hours reached $297,877,809.74. Over the past day, the price has dropped by -2.42%, but it has seen a 1.49% increase in the last 7 days. With a circulating supply of 590 Trillion SHIB, the market cap of Shiba Inu stands at $14,299,290,106.
Price History
SHIB has been on a negative trend for the past week, with a -2.42% drop.
Over the last month, SHIB’s price has dropped by 4.6%, landing at its current value. This surprising decrease hints that the coin might turn into a valuable asset once its growth picks up again.
The lowest price ever paid for SHIB was $0.03982 on Nov 28, 2020, over 3 years ago. In comparison, the current price is +29625918.63% higher than the all-time low.
On the other hand, the highest price ever paid for SHIB was $0.00008616 on Oct 28, 2021, almost 2 years ago. Presently, the price is 71.82% lower than the all-time high.
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Technicals
The price has successfully broken out of the symmetrical triangle and has also completed a successful retest of the breakout level.
This confirmation suggests that a significant upward movement is imminent. Prepare for a potential price surge soon.
The graph displays a symmetrical triangle formation, which implies that SHIB/USDT is going through a consolidation phase.
The price is getting closer to the peak, indicating a possible breakout in the near future. It’s important to keep an eye on the key levels of 0.026 (resistance) and 0.022 (support). The volume is decreasing, which is a common occurrence before a breakout.
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Price Prediction
Cryptocurrency experts are about to share their SHIB price forecast for June 2024. They predict the price could range from a low of $0.0000282 to a high of $0.0000398, with an average around $0.0000340. The potential return on investment (ROI) is estimated to be 73%.
NEWS
Internet Legend Kabosu, the Shiba Inu, Passes Away
Shiba Inu Releases New Magazine and Free NFTs
Endnote
Shiba Inu (SHIB) shows potential for growth despite recent declines. With a community-driven approach and strategic technical indicators, it remains a cryptocurrency to watch for future value increases.
