Shiba Inu Price Prediction: SHIB to $1, Shibarium Launch Advances

Shiba Inu price prediction suggests the consolidation phase of SHIB cryptocurrency after leaving the descending triangle pattern over the daily time frame chart.
Analysts speculate that Shiba Inu price might reach $1 as Shibarium launch advances closer.
The pair of SHIB/BTC was at 0.000000000543 BTC with an intraday drop of 5.57%.

Shiba Inu price prediction indicates that SHIB cryptocurrency has been declining after tumbling from the resistance level on the daily time chart. The $0.00001270 support level must be maintained for the Shiba Inu price to return to its recovery phase on the daily chart. Experts predict that after the SHIB cryptocurrency receives support from the level, it may retrace its upward trajectory. Nonetheless, under the direction of the sellers, volume change can be shown to be above average. In order to free the SHIB token from the seller’s control, buyers must step forward.

Shiba Inu price was at $0.0000134 and throughout the day’s trading session, it lost about 2.04% of its market value. Since selling volume is still rising by 60%, the price of the Shiba Inu needs to entice more buyers. This shows that purchasers are making an effort to accumulate so they may observe the token’s recovery phase. Volume to market cap ratio was at 0.07874.

Shiba Inu price prediction demonstrates the token’s decline momentum after it was rejected from the $0.000015 resistance level. Shiba Inu pricing has the potential to reverse, but SHIB coin has to draw in more buyers to support this claim. Nonetheless, a volume movement above average and fully influenced by sellers can be observed. Shiba Inu’s price is currently trading above the 20-day, 50-day, 100-day, and 200-day daily moving averages.

Shib Burn Rate and Shibarium Launch

Shib burn rate has soared more than 400% today which signifies that the burning process is rapid and it might make a way for SHIB crypto price to reach $1 one day. Meanwhile, analysts also talk about the Shibarium launch to help Shiba Inu price to reach $1 and as it approaches closer SHIB army gets excited to witness the SHIB crypto’s maximum rally during the launch of Shibarium.

Shiba Inu Price Prediction — Source: Shibburn

Shiba Inu price must go through a procedure before it can soar to $1.00. Shiba Inu’s current and upcoming advancements will propel the token towards success and may present a chance to showcase the SHIB army’s global potential. The second and last method for SHIB to recover to $1.00, though, is to rapidly and exponentially raise its burn rate. Through the website shibburn.com, it is possible to see that 410,385,105,701,991 SHIB memecoins have been delivered to unsuspendable wallets, increasing the burn rate of SHIB tokens by 444.68%.

Technical Indicators over Shiba Inu Price

Shiba Inu price prediction showcases the token’s downtrend momentum inside the consolidation phase over the daily time frame chart. Technical indicators also confirm the downside trend of SHIB crypto price.

Relative Strength Index showcases the downward velocity of Shiba Inu price. RSI was at 57 and moving towards neutrality for a breakdown. MACD exhibits the consolidation phase of Shiba Inu Price. The MACD line still struggles below the signal line. The SHIB army needs to wait for a while until the Shiba Inu price recovers back towards the upper price range of the consolidation phase.

Summary

Analysts also talk about the Shibarium launch to help Shiba Inu price to reach $1 and as it approaches closer SHIB army gets excited to witness the SHIB crypto’s maximum rally during the launch of Shibarium. Technical indicators also confirm the downside trend of SHIB crypto price. The SHIB army needs to wait for a while until the Shiba Inu price recovers back towards the upper price range of the consolidation phase.

Technical Levels

Support Levels: $0.00001270 and $0.00001200

Resistance Levels: $0.00001450 and $0.00001590

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