Shiba Inu Price Prediction: Why SHIB is Declining Over Charts?

Shiba Inu price prediction showcases the downward velocity of Shiba Inu coin price over the daily time frame chart.
SHIB crypto has slipped below 20, 50, 100 and 200-days Daily Moving Average.
Shiba Inu coin price couldn’t sustain at the resistance level of $0.00001129 and slipped following the downtrend.

Shiba Inu price prediction shows that the SHIB cryptocurrency is expected to rise in value in 2023. Shiba Inu price prediction 2023 furthers the idea that a bullish view will continue and that SHIB cryptocurrency is anticipated to increase to between $0.00002175 and $0.00002540 by the end of 2023.

The Shiba Inu coin price is predicted to experience some exciting highs between 2023 and 2030, culminating at $0.01 as the burn rate increases. The highest Shiba Inu price recovery seen on the charts is also supported by the Shiba Inu coin price projection. The Shiba Inu’s price will rise and eventually reach $0.01, according to the long-term assessment of the pricing.

Shiba Inu The Memecoin

Shiba Inu tokens become accessible in August 2020. The ERC-20 currency was developed on the Ethereum network. The Shiba Inu campaign to become the “Dogecoin killer” was begun by locals. The project’s logo is a Shiba Inu dog, a well-known breed in Japan.

Shiba Inu’s sharp price increase has increased its acceptance among bitcoin users. Beginning in May 2021, Shiba Inu prices surged by more than 2000%, which attracted a lot of interested purchasers. Similar to other cryptocurrencies, the price of Shiba Inu is quite volatile, therefore you should do your own research before investing.

ShibaSwap, a decentralized exchange where users may swap Shiba Inu and other cryptocurrencies, is another creation of the effort. A brand-new blockchain network called ShibaSwap, which will be unveiled by Shiba Inu, is expected to outperform Ethereum in terms of transaction prices and speeds.

Shiba Inu coin bulls and bears are battling it out for price control during the trading period as of today’s price of $0.00001091. The intraday trading session saw a 20.51% decline in trade volume. Market capitalization to volume was 0.02492.

The price of the currency will return to its prior levels in 2025, and it might even hit $0.01, predicts the Shiba Inu coin price prediction. Meanwhile, Shiba Inu coin price has slipped below 20, 50, 100 and 200-days Daily Moving Average. Now the SHIB army needs to wait until the Shiba Inu coin price initiates its recovery phase and breaks out from the 20-EMA resistance.

Technical indicators point to a decreasing trend in the price of Shiba Inu coins. On the daily time frame chart, the relative strength indicator demonstrates the momentum of the Shiba Inu price downturn. The RSI was trying to return to neutral at 48. Prices for Shiba Inu coins are falling, according to MACD. After a positive crossover, the MACD line is below the signal line.

Shiba Inu coin prognosis shows that the SHIB army will have to wait until the price of the coin reaches the major support level of $0.00001130 before it can return to $0.01.

Summary

Shiba Inu’s price prediction reveals that in 2023, the value of the SHIB cryptocurrency is anticipated to increase. The Shiba Inu coin price is predicted to experience some exciting highs between 2023 and 2030, culminating at $0.01 as the burn rate increases. However, Shiba Inu coin price is moving downwards, according to technical indicators.

Technical Levels

Resistance Level: $0.00001130 and $0.00001295

Support Level: $0.00001065 and $0.00001058

Disclaimer-

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing