Shiba Inu Price Prediction: SHIB to Reach $1.00 by the end of 2023

Shiba Inu price prediction suggests that the SHIB token is trying to surge back inside the descending triangle pattern over the daily time frame chart.
SHIB cryptocurrency has slipped below 20, 50, 100 and 200-days Daily Moving Average.
The pair of SHIB/BTC is at 0.000000000484 BTC with an intraday drop of 1.17%.

Shiba Inu price prediction showcases that the SHIB token has slipped below the descending triangle pattern over the daily time frame chart. SHIB crypto is trying to recover back inside the falling pattern and is trading near the neckline. SHIB army may witness a surge of the token back inside the triangle pattern. Shiba Inu price needs to recover itself above the neckline for the token to surge over the daily time frame chart. However, volume change is still under the influence of sellers and is below average.

Shiba Inu price was at $0.0000080 and has dropped by 2.32% during the intraday trading session. Volume to market cap ratio is 0.02748.

Shiba Inu price prediction suggests the token’s declining phase over the daily price chart. SHIB crypto has dropped below the descending triangle pattern and is trying to accumulate buyers in order to break out from the neckline.

Volume change can be seen below average and needs to grow in favor of buyers during the intraday trading session. Meanwhile, SHIB cryptocurrency has slipped below 20, 50, 100 and 200-days Daily Moving Average.

When will Shiba Inu Price Reach $1.00?

Shiba Inu price needs to follow through a process in order to surge to be at $1.00 level. Shiba Inu’s new upcoming developments will lead the token towards its success and it may create an opportunity to show some potential of SHIB army all around the globe. However, the second and last way for SHIB to recover till $1.00 is to exponentially increase the SHIB burn rate in a short time period. It can be observed through the shibburn website that the burn rate of SHIB token’s have risen by 80% with a total of 410,383,480,929,592 , total number of SHIB memecoins have been sent to the unsuspendable wallets.

Technical Analysis for SHIB Token Price:

Shiba Inu price prediction suggests the declining rate of SHIB token over the daily time frame chart. Technical indicators suggest the downtrend momentum of the SHIB token.

Relative Strength Index showcases the declining velocity of SHIB token. RSI is at 38 and is heading towards the oversold territory. MACD exhibits the downtrend momentum of the SHIB token. The MACD line is below the signal line after a negative crossover. The SHIB army needs to wait a little more for the SHIB token to forecast $1.00 value in 2023.

Summary

Shiba Inu price prediction showcases that the SHIB token has slipped below the descending triangle pattern over the daily time frame chart. SHIB crypto is trying to recover back inside the falling pattern and is trading near the neckline. SHIB crypto has dropped below the descending triangle pattern and is trying to accumulate buyers in order to break out from the neckline. However, the second and last way for SHIB to recover till $1.00 is to exponentially increase the SHIB burn rate in a short time period. Technical indicators suggest the downtrend momentum of the SHIB token. The SHIB army needs to wait a little more for the SHIB token to forecast $1.00 value in 2023.

Technical Levels

Support Levels: $0.0000078 and $0.0000070

Resistance Levels: $0.0000085 and $0.0000095

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas 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