- SHIBA burn rate has skyrocketed over more more than 250% in just a few days.
- Shiba Inu price has been in a consolidation for quite some time. SHIBA/BTC pair has seen a drop of over 2.38%
Shiba Inu has remained one of the most popular meme coin in the crypto verse.The difference between the market cap of Doge and Shiba has been seeing a decline. Shiba Inu has seen an increase in burn rate of over 250%. Meanwhile the SHIB community seems to be pretty excited about the Shibarium. Shibarium is a layer 2 solution for Shiba Inu ecosystem which aims to provide faster transaction speed and other new improvements. The official twitter account of SHIBA has also teased the SHIBA community with a special countdown. SHIBA price has been struggling in a consolidated zone for a long while and to reach $0.1 it has to increase its burn rate by a large amount.
Shiba Inu is currently ranked 15th in cryptoverse and has a market cap around $6.4 Billion. Volume of the SHIBA crypto has seen a decline of over 36% in the intraday session. SHIBA is still more than 40% away from its 90 day high.
Where Are The Bulls Of SHIBA Price?
Shiba Inu has been consolidating in a particular range from a long time. It has seen a high of $0.00001488 in the 90 days time frame and never came close to testing it. On the weekly chart there is a strong consolidation. Coming to the daily chart the asset price is trading near the value of $0.00000857 with a drop of 3%. Resistance of the SHIBA price can be seen near $0.0000125. Meanwhile the support for the asset price can be seen near $0.00000045. The asset price is currently trading below the 50 and 100 Daily Moving Average. There can be a negative crossover which can push the price to a new low.
Conclusion
ShibaInu has been one of the most talked about meme coins in 2022. It is currently seeing a consolidated momentum. Various analysts believe that SHIBA will see a rally in the near future.
Technical Levels
Major Support:$0.0000045
Major Resistance:$0.0000145
Source: https://www.thecoinrepublic.com/2022/12/19/shiba-inu-price-prediction-will-shiba-crypto-price-see-a-rise-to-0-01-in-2023/