Shiba Inu Price Prediction: Analyst Forecast 2X By Mid-December
November 16 2023 - 12:30PM
NEWSBTC
Popular cryptocurrency market analyst Captain Faibik has recently
shed more light on his predictions toward the price of Shiba Inu
(SHIB) and revealed where the cryptocurrency ought to be by
mid-December. Crypto Analyst Optimism On Shiba Inu The crypto
analyst took to his official X (formerly Twitter) handle to share
his projections on the price movement of Shiba Inu. According to
the analyst’s post and token chart, SHIB has crossed a trendline
near the $0.00000839 price level. Due to this data, the analyst
believes the crypto asset is going through a significant retest.
Captain further highlighted that if the retest is prosperous, the
token might experience a bullish rally of up to 2X by mid-December.
SHIB has broken out of a Major Trendline and is currently
undergoing a Retest. If the retest is successful, we might witness
a Bullish Rally up to 2x by mid-December. Additionally, the
analyst highlighted that the 2X price surge could take the token as
high as $0.00001678. Nonetheless, a careful look at the chart on
the X post reveals just how difficult it will be for this retest to
succeed. Related Reading: Dogecoin Vs. Shiba Inu: Which Meme
Coin Is More Profitable For Holders? So far, Shiba Inu’s price has
exceeded the $0.000016 threshold just once since May 2022. This was
during a brief spike that occurred in August 2022. Also, the crypto
asset price growth has not been as impressive as other altcoins.
Shiba Inu’s year-to-date (YTD) price growth is up 4.97%. However,
SHIB is currently trading at $0.0000086, up by 22% over the last 24
hours, which suggests a more optimistic outlook. Its market
capitalization is approximately $5.2 billion, with a trading volume
of $162 million over the past 24 hours. The crypto market analyst’s
predictions were fueled by Shiba Inu’s grit, which has enabled it
to regain its brilliance in the face of numerous obstacles. His
predictions seem to have sparked increased confidence in the Shiba
Inu community. Algorithm Prediction Of The Crypto’s Price By
December Captain Faibik’s shared one of the other predictions for
Shiba Inu’s price by December. Recently, price algorithm prediction
from crypto analytics firm CoinCodex has also predicted a bullish
outlook for the token by December. According to the forecast, Shiba
Inu’s price will hit $0.0000095 by December 11, indicating a 10%
increase from its price as of the time of prediction. Its
prediction becomes more likely to come true, given the possibility
of additional whales and regular investors joining the token
market. The projections also highlighted about 4 technical analysis
indicators that suggest bearish conditions, while about 24 indicate
optimistic signs. Additionally, the token’s current RSI value of
63.05 is neither overbought nor oversold, according to the
prediction. Related Reading: Shiba Inu Burn Rate Flatlines With
99.35% Drop, Here’s Why Featured image from iShock, chart by
Tradingview.com
SHIBA INU (COIN:SHIBUSD)
Historical Stock Chart
From Jun 2024 to Jul 2024
SHIBA INU (COIN:SHIBUSD)
Historical Stock Chart
From Jul 2023 to Jul 2024