The market is moving sideways, so a bit of chop and ups and downs will be an added spice to many aspiring coins. And how can the Dogecoin killer remain untouched? With a cold Shibarium launch, Shiba Inu’s price is again back to square, struggling to break key resistance levels. Even the on-chain metrics showed a downtrend.
All because giant whales are accumulating more SHIB, resulting in low volatility, making a hold at short positions. From here onwards, achieving $0.0001 would require Shiba Inu to surpass its all-time high of $0.00008845, set in October 2021. Despite being significantly down from its peak, there is hope for a recovery, though the timeline remains uncertain.
Uptober will be a month of price boosts with impending activities lined up. The market outlook is volatile, with anticipation for improved sentiments pending the Bitcoin ETF decision in October.
Also Read : Shiba Inu Price Prediction 2023 – 2025: Will Shiba Inu Boost in 2023?
Shiba Inu coin Price Prediction
Giving slow and believable targets, Telegaon’s report, predicts that Shiba Inu’s price could reach $0.0001 by 2027, signifying a remarkable 1,231% surge in value over four years. Telegaon’s projections go even further, envisioning an average price of $0.000153 for SHIB in 2027. But getting deep into the platforms, it anticipates a minimum price range of $0.0000945 and a maximum of $0.000198 for the same year.
Looking ahead, Telegaon’s projections for SHIB’s performance extend until 2050, suggesting a continual upward trajectory. Notably, they foresee Shiba Inu reaching $1 by 2050. As of now, SHIB is trading at $0.00000751, reflecting a 3.16% increase over the last 24 hours, though it has faced challenges in maintaining levels above $0.000008, resulting in a 7% decline for the year.
What’s Next For SHIB Price?
In the last 24 hours, SHIB has seen a surge in buying activity, breaking above the bearish channel pattern and surpassing the EMA100 trend line, currently trading at $0.0000076, up over 5% from yesterday. Sellers, however, are putting up resistance near EMA200. Despite attempts, bears struggle to push the price below the robust support level at $0.000007, indicating active bulls are willing to buy during dips.
Hence, a minor downward correction is expected due to RSI levels entering the overbought region. If bulls push the price above EMA200, it could signal a sustained recovery targeting levels of $0.0000084 and potentially $0.0000088. Conversely, a breach of $0.000007 may lead to a potential decline towards $0.000006.
However, Telegoan’s projections are not investment advice yet they speak a lot about SHIB’s projected moves in the coming weeks. Will Spot ETF’s craze going to suppress SHIB’s price? Only time will tell.
Zameer Attar
Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.
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