Shiba

Captain

Optimism

Shiba Inu

Popular cryptocurrency market analyst Captain Faibik has recently shed more light on his <a href="https://twitter.com/CryptoFaibik/status/1724649264184537213" target="_blank" rel="noopener nofollow">predictions</a> toward the price of Shiba Inu (SHIB) and revealed where the cryptocurrency ought to be by mid-December.&nbsp; 
<h2 id="crypto-analyst-optimism-on-shiba-inu">Crypto Analyst Optimism On Shiba Inu</h2> 
The crypto analyst took to his official X (formerly Twitter) handle to share his projections on the price movement of <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-whale-transactions-surges-following-a-recent-whale-transaction/" target="_blank" rel="noopener ">Shiba Inu</a>. 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. 
<blockquote>
 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.&nbsp;
</blockquote> 
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.&nbsp; 
So far, <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-key-resistance-november-surge/" target="_blank" rel="noopener ">Shiba Inu’s price</a> has exceeded the $0.000016 threshold just once since May 2022. This was during a brief spike that occurred in August 2022. 
<img loading="lazy" decoding="async" class="wp-image-561050 size-large" src="https://www.newsbtc.com/wp-content/uploads/2023/11/photo_5093593375403256741_y.jpg?w=860&amp;resize=860%2C418" alt="Shiba Inu" width="860" height="418" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/photo_5093593375403256741_y.jpg?w=900 900w, https://www.newsbtc.com/wp-content/uploads/2023/11/photo_5093593375403256741_y.jpg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/photo_5093593375403256741_y.jpg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/photo_5093593375403256741_y.jpg?w=860&amp;resize=860%2C418 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/photo_5093593375403256741_y.jpg?w=750 750w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
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, <a href="https://www.newsbtc.com/news/company/shiba-inu-coin-shib-up-30-in-last-30-days-are-we-set-for-a-bull-run/" target="_blank" rel="noopener ">SHIB</a> 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 <a href="https://bitcoinist.com/shiba-inu-upcoming-second-edition-shib-magazine/" target="_blank" rel="noopener nofollow">Shiba Inu community.</a> 
<h2 id="algorithm-prediction-of-the-crypto-s-price-by-december">Algorithm Prediction Of The Crypto’s Price By December</h2> 
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 <a href="https://coincodex.com/crypto/shiba-inu/price-prediction/" target="_blank" rel="noopener nofollow">predicted</a> 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. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/FaPZZ0cv/" alt="Shiba Inu" width="2301" height="1546">

Shiba Inu Price Prediction: Analyst Forecast 2X By Mid-December

Table of Contents

NewsBTC

Other articles published on Nov 16, 2023

The Philippines Plans To Tokenize Treasury Bonds, Is This An Innovative Financial Venture?

Solana Vs. Ethereum: Helius Labs CEO Lays Out Why SOL Is Superior

Bitcoin's (BTC) Jump to $37,000: Here's What Happened Recently

Microsoft Unveils Azure Cobalt CPU: A New Era in Cloud Computing and AI

How to Buy Enjin Coin?

Crypto Whale Wakes Up After 2 Years of Inactivity, Makes a Significant Move in the Market

Join our free newsletter for daily crypto updates!