- Bullish SHIB price prediction is $0.00002984 to $0.00006526.
- The SHIB price will also reach $0.00007 soon.
- SHIB’s bearish market price prediction for 2022 is $0.00000895.
In Shiba Inu’s (SHIB) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about SHIB to analyze the future movement of the cryptocurrency.
Shiba Inu Current Market Status
According to CoinGecko, the price of SHIB is $0.00002326 with a 24-hour trading volume of $1,048,183,890 at the time of writing. However, SHIB has decreased by nearly 3.3% in the last 24 hours.
Moreover, SHIB has a circulating supply of 549,146,987,315,505 SHIB. Currently, SHIB trades in cryptocurrency exchanges such as Binance, OKX, DigiFinex, FTX, and Bybit.
What is Shiba Inu (SHIB)?
An ethereum based altcoin that features a Japanese breed of hunting dog Shiba Inu as its mascot is known as Shiba Inu (SHIB). It is widely considered to be an alternative to Dogecoin. The Shiba Inu website invites dog-inspired artists from all over the world to foster the artistic Shiba movement as they bring their Shiba Inu community into the NFT market.
ShibaSwap is the coin’s designated DEX that started as a fork of Sushiswap that has words of Ryoshi, its own little twists, and elements. Ryoshi’s goal for Shiba Inu has been to see if a perpetual decentralized organization could work with no central leadership.
Pros and Cons of SHIB
Shiba Inu has risen several hundred thousand percent since late January. Traders of cryptocurrency have earned millions in recent years.
Dogecoin (DOGE), Floki (FLOKI), and Shiba Inu (SHIB) are among the top-performing cryptos. The staggering growth in Shiba Inu is enough to cause FOMO. Before investing in Shiba Inu, investors should grasp the benefits and drawbacks. Let us examine the coin’s pros and cons.
Pros of SHIB:
Below mentioned a few pros of SHIB.
Valuable Crypto Brand
Bitcoin, Ethereum, and other popular cryptocurrencies have significant technological benefits. Effective branding is essential in the crowded cryptocurrency market. Shiba Inu has adopted Dogecoin’s meme-friendly branding strategy. Shiba Inu has been trending on social media and spreading like wildfire during its remarkable run. Without a strong technical edge, Shiba Inu may survive or perish based on its brand power.
Shibaswap
The Shibaswap decentralized exchange is one method Shiba Inu developers are trying to promote community and brand. Decentralized exchanges enable users to trade cryptocurrencies without an intermediary. It is one of three cryptos in the Shiba ecosystem. Shibaswap users may now stake their crypto to earn interest.
Users may keep track of their earnings in their “bonefolio” and exchange over 10,000 non-fungible dog-themed tokens with varying features and rarities.
Possible Robinhood Listing
The community has urged the popular trading platform Robinhood to include Shiba Inu on its list of tradeable cryptocurrencies. A Change.org petition supporting Shiba Inu has over 400,000 signatures. After introducing Dogecoin to its platform in the first quarter of 2021, Robinhood claimed $30 million in income from trading Dogecoin. The financial temptation for Robinhood to introduce Shiba Inu trading may soon be too strong to ignore.
Low-cost Shiba Inu Coin
SHIB is currently trading at $0.000026. The price of a crypto trading asset is vital because it helps traders and investors forecast potential profits based on the number of coins acquired. At this pricing, you may expect a 100% profit if SHIB rises to $0.000052. It beats investing in Ether or Bitcoin.
SHIB Exchange Listings
One shouldn’t have to explore finding a digital asset online. This is why a cryptocurrency’s accessibility affects its price. It would be thrilling to have purchasers eager to match your selling price, whether you want to buy, hold, or sell.
SHIB is presently listed on Binance, Huobi Global, OKEx, FTX, and Binance subsidiary WazirX. Moreover, eToro, one of the world’s major exchanges, is also listed Shiba Inu (SHIB).
Cons of SHIB
Below mentioned a few cons of SHIB.
High Volatility
Investors are ecstatic when their investment doubles in less than a year. Regrettably, volatility swings both ways. For investors seeking an adrenaline rush or a gambler’s high, the possibility of a price drop as steep as the rise may be part of the pleasure. Coinbase says Shiba Inu investors retain their coins for an average of 13 days. Long-term investors can be crushed by the sudden abandonment of market speculators and momentum traders.
Lack of real-world utility
Unlike bitcoin and Ethereum, Shiba Inu has no real purpose for investors. Currently, over 40,000 worldwide retailers accept Shiba Inu as payment, AMC, Newegg.com, and traval.com are some of the biggest merchants that accept SHIB.. It’s a smattering of strange crypto-themed companies Shiba Inu’s fees, transaction speed, or structure aren’t distinguishable from hundreds or thousands of other cryptos.
Michael Burry, from “The Big Short,” recently branded Shiba Inu “pointless.” Burry criticized Shiba Inu’s enormous supply of 1 quadrillion coins, claiming it inhibits price appreciation.
Musk Does Not Own It
Shiba Inu is one among many doge-themed coins. Elon Musk, the influential Tesla CEO, has publicly endorsed Dogecoin and acquired a Shiba Inu dog called Floki. However, Musk recently upset Shiba Inu investors by revealing that the only cryptos he truly owns are Bitcoin, Ethereum, and Dogecoin. Musk supporting Dogecoin might not be good news for Shiba Inu investors.
Shiba Inu Coin is an MCAP
SHIB now has a market valuation of $10 billion and a diluted cap of $25 billion. It is important to know that $300 million to $2 billion is small-cap, $2 billion to $10 billion is medium-cap, and $10 billion or more is large-cap.
Shiba Inu (SHIB) Price Prediction 2022
Shiba Inu holds the 15th position on CoinGecko right now. SHIB price prediction 2022 is explained below with a monthly time frame.
Triangle patterns are aptly named because the upper and lower trendline ultimately meets at the apex on the right side, forming a corner. Connecting the start of the upper trendline to the beginning of the lower trendline completes the other two corners to create the triangle. Triangle patterns are important because they help indicate the continuation of a bullish and bearish market. They can also assist a trader in spotting a marketing reversal.
Currently, SHIB is in the range of $0.00002600. If the pattern continues, the price of SHIB might reach the resistance level of $0.00003046, & $0.00003582. If the trend reverses, then the price of SHIB may fall to $0.00002026, & $0.00001739.
Shiba Inu (SHIB) Support and Resistance Level
The below chart shows the support and resistance level of SHIB.
From the above daily time frame, it is clear the following are the resistance and support levels of SHIB.
| Resistance Level 1 | $0.00002984 |
| Resistance Level 2 | $0.00004323 |
| Resistance Level 3 | $0.00006526 |
| Support Level 1 | $0.00002014 |
| Support Level 2 | $0.00001277 |
| Support Level 3 | $0.00000895 |
The charts show that SHIB has performed a bullish trend over the past month. If this trend continues, SHIB might run along with the bulls overtaking its resistance level at $0.00006526.
Accordingly, if the investors turn against the crypto, the price of the SHIB might plummet to almost $0.00000895, a bearish signal.
Shiba Inu Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of SHIB is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of SHIB lies below the cutoff line, indicating weaker participants in the current trend.
More so, the SHIB’s Moving Average (MA) is shown in the chart above. Currently, SHIB is in a bullish state. Notably, the SHIB price lies above 50 MA (short-term), so it is completely in an upward trend. Therefore, there is a possibility of a reversal trend of SHIB at any time.
Meanwhile, the relative strength index (RSI) of the SHIB is at a level of 46.61. This means that SHIB is in a nearly oversold state. However, this means a major price reversal of SHIB may occur in the upcoming days. So, traders need to trade carefully.
Shiba Inu Price Prediction 2022 — ADX, RVI
Let us now look at Shiba Inu’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Shiba Inu. Currently, SHIB lies in the range of 13.30884846, so it indicates a weak trend.
From the above chart, the Relative Volatility Index (RVI) of SHIB. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of SHIB lies above the 50 levels, indicating that the direction of volatility is high. In fact, SHIB’s RSI is at a 46.61 level thus confirming a potential sell signal.
Comparison of SHIB with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Shiba Inu.
From the above chart, we can identify the trend of the ETH, BTC, and SHIB is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and SHIB also increases or decreases respectively.
Conclusion
With continuous improvements in the Shiba Inu network, we can say that 2022 is a good year for SHIB. For this reason, the bullish price prediction of Shiba Inu in 2022 is $0.00006526. On the other hand, the bearish SHIB price prediction for 2022 is $0.00000895.
Furthermore, with the advancements and upgrades to the SHIB ecosystem, the performance of SHIB would help to reach above its current all-time high (ATH) of $0.00008616 very soon. But, it might also reach $0.00007 if the investors believe that SHIB is a good investment in 2022.
FAQ
An ethereum based altcoin that features a Japanese breed of hunting dog Shiba Inu as its mascot is known as Shiba Inu (SHIB).
SHIB has listed on many crypto exchanges which include Binance, OKX, DigiFinex, FTX, and Bybit.
With the ongoing developments and upgrades within the SHIB platform, it has a high possibility of reaching its ATH soon.
On Oct 28, 2021, SHIB reached its new all-time high (ATH) of $0.00008616.
Shiba Inu (SHIB) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of SHIB in the past few months, SHIB is considered a good investment in 2022.
Shiba Inu (SHIB) is one of the active cryptocurrencies that continue to maintain its Bullish state. Eventually, if this bullish trend continues then Shiba Inu (SHIB) will hit $0.00007 soon.
Shiba Inu (SHIB) price is expected to reach $0.0001 by 2023.
Shiba Inu (SHIB) price is expected to reach $0.00026 by 2024.
Shiba Inu (SHIB) price is expected to reach $0.00034 by 2025.
Shiba Inu (SHIB) price is expected to reach $0.0005 by 2026.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Recommended for You
Source: https://thenewscrypto.com/shiba-inu-shib-price-prediction