BitShiba is a cryptocurrency project that aims to provide a next-generation artificial intelligence platform for crypto traders. It uses a unique token, SHIBA, to power its network and to reward its users.
The SHIBA token is also burned with every calculation made by the AI, making it deflationary and scarce. BitShiba’s AI is called Fetch. It can predict market moves before they happen and help users find the best coins to invest in.
Users can customize their parameters, filter out specific markets, adjust their risk tolerance, and more. Fetch also provides users with a secure and trustless way to access data from other systems, such as crypto price feeds, without relying on third-party oracles.
BitShiba is built on the Binance Smart Chain, which offers fast and low-cost transactions. It also has a community-driven governance system in which users can vote on the project’s future directions.
BitShiba is available on PancakeSwap, where users can buy and sell SHIBA tokens.
Will BitShiba Remain Volatile Or Surge?
The BitShiba all-time high was $0.000000123410 and its all-time low was $0.000000002538. The price kept declining and showed bearishness on the chart in the entire journey of the token.
However, the price tried to surge a bit but the resistance at supply was very high. It highlighted how dominantly the sellers are sitting on the chart.
Moreover, it is observed that the token price is above 20, 50, and 100-day EMAs. However, it is below the major 200- EMA, which shows that the longer trend is bearish and the token price is approaching the shorter trend EMA.
So, possibly if the sellers dominate the token price, its price might fall below the supporting EMA’s. The current price of the token is $0.000000003864, experiencing a decline, and showing an intraday decline of 3.23%. Therefore, if the SHIBA token price fails to stay above the $0.000000003700 level, it could decline further.
However, if the demand for the SHIBA Token increases, its price could bounce back from the current level. The next goal for the SHIBA price could be to reach the $0.000000005000 level.
Furthermore, it seems like the SHIBA crypto is destined to plummet, as it struggles to overcome the resistance level and plunges to new depths from the current support zone.
The SHIBA asset is expressing bearish behavior and has the chance of falling further. It has attained bad performance in the last year by 64.38%, implying a stable downward direction and a prolonged consolidation.
Summary
In the entire journey of the token, the SHIBA coin price has declined and showed bearishness on the chart.
The SHIBA crypto is destined to plummet, as it struggles to overcome the resistance level and plunges to new depths from the current support zone.
The SHIBA asset is expressing bearish behavior and has the opportunity to fall further. It has shown a bad performance in the last year, implying a stable downward direction and a prolonged consolidation.
Technical Levels
Support Levels: $0.000000003700
Resistance Levels: $0.000000005000
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
Source: https://www.thecoinrepublic.com/2023/12/15/bitshiba-coin-analysis-will-its-price-advance-upward-or-decline/