The Shiba Inu Coin, SHIB, has recently surged in the cryptocurrency arena, signaling a notable bullish trend. This meme-inspired cryptocurrency surpassed the $0.00003 resistance threshold, marking an extraordinary more than 250% surge in the last few days alone. Will SHIB Price 500x in the next seven days? Let’s take a look at this SHIB price prediction article.
SHIB Price Prediction: How has the Shiba Inu price moved recently?
Such impressive growth has garnered attention from various quarters including cryptocurrency enthusiasts and investors alike. Despite this remarkable climb, Shiba Inu has experienced some price fluctuations in the last seven days, currently undergoing a minor correction. In the last two days, its value dipped to $0.00003067, reflecting a 1.58% decrease.
As of today, the price of Shiba Inu stands at $0.00003275, with a trading volume of $1.61 billion over the past 24 hours. Its market capitalization amounts to $19.30 billion, and it holds a market dominance of 0.71%. In the last day, the price of SHIB has experienced a slight decrease of 1.64%.
Shiba Inu’s journey has seen both highs and lows. On October 28, 2021, it reached its peak price of $0.00008819, whereas its lowest recorded price was on November 28, 2020, at $0.0000105637.
Since reaching its all-time high, the lowest price it has touched is $0.000055821, which is termed as the cycle low. Conversely, the highest price since the last cycle low stands at $0.00004501, termed as the cycle high. Currently, the sentiment regarding Shiba Inu’s price prediction is neutral, while the Fear & Greed Index indicates a level of 81, signaling extreme greed.
Regarding its supply, there are currently 589.29 trillion SHIB tokens in circulation out of a maximum supply of 589.74 trillion SHIB. The yearly supply inflation rate is at 7.33%, resulting in the creation of 40.23 trillion SHIB over the last year.
SHIB Price Prediction: Can the Shiba Inu price rise significantly again?
In the midst of all the FUD (fear, uncertainty, doubt) stirred up by shadow cats (as Shytoshi Kusama nicknamed them), the Shib Army, especially its OG members, have stayed strong, building trust within the community and pushing forward with the ecosystem’s plans.
As things take a positive turn, some might get caught up in FOMO with all the bullish vibes, while others might regret missing out during the bear market. But now, the market is filled with those who held onto their belief and are now enjoying the sweet rewards.
Over the past year, Shiba Inu (SHIB) has been on quite a journey, with its price jumping up by an impressive 196%. That’s a lot! In fact, it has done better than around 62% of the other top 100 cryptocurrencies out there. That’s like being in the top tier of performers!
Looking at the technical side of things, SHIB is currently trading above its 200-day simple moving average. That’s a good sign in the crypto world, suggesting that the price is on a bullish trend, which means it could keep going up.
And lately, it’s been doing pretty well. Out of the past 30 days, SHIB has had 20 green days, which means its price went up. That’s like hitting the jackpot for investors and showing that people are really interested in SHIB right now.
Plus, SHIB has a lot of liquidity, meaning there’s plenty of it available for trading. That’s always a good thing because it means people can buy and sell SHIB easily, which can help keep its price stable or even push it higher.
Taking all this into account, it looks like Shiba Inu has a pretty bright future ahead. Of course, nothing is guaranteed in the world of crypto, but with its strong performance history, positive technical signs, and growing popularity, there’s a good chance SHIB could see some significant price increases in the near future.
With Bitcoin halving on the horizon, Shiba Inu’s future trajectory is under speculation. So, SHIB may trade within a range of $0.00003166 to $0.000155. This range suggests a significant potential for growth, especially if SHIB reaches the upper price target. In fact, if SHIB were to hit $0.000155, it could see a remarkable surge of nearly 400%. Such a leap would position SHIB at a notable milestone in its price history.
Where to Buy SHIB?
Bitget stands out as a reliable crypto exchange. It provides a user-friendly interface, making it easy for both beginners and experienced traders to navigate and make transactions at the lowest fees on the market. To get started with Bitget, you need to create an account, complete the necessary KYC procedures, and then you can begin trading a variety of altcoins available on the platform.