Shiba

Burn

Dogecoin

Revolution

Shiba Inu

<img width="2710" height="1454" src="https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26.png" class="attachment-full size-full wp-post-image" alt="Shiba Inu price prediction daily chart" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26.png 2710w, https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26-300x161.png 300w, https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26-768x412.png 768w, https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
SHiba Inu price prediction: The meme coin hype has gone down significantly over the last few weeks, with Shiba Inu (SHIB) and Dogecoin (DOGE) the two leading crypto assets with respect to market capitalization in this category staying relatively stable. 
Most investors are currently concerned about the potential approval of Bitcoin spot exchange-fund (ETF) which would user in a new era for the crypto industry. 
In the meantime, investors can still take advantage of potential price swings among key tokens like SHIB, trading at $0.0000834 at the time of writing on Monday during US business hours. 
<a rel="nofollow" href="https://coinmarketcap.com/currencies/shiba-inu/">CoinMarketCap</a>&nbsp;shows Shiba Inu price has barely changed in the last 24 hours. Intriguingly, trading volume across exchanges increased by 88% to $200 million. SHIB ranks #18 among other cryptos, excluding stablecoins. 
<h2 class="p1" id="shiba-inu-price-uptrend-weakens-as-burn-rate-soars">Shiba Inu Price Uptrend Weakens As Burn Rate Soars</h2> 
Shiba Inu is holding below two key indicators forming a confluence resistance at $0.0000083. These are the 50 Exponential Moving Average (EMA) (red) and the 100-day EMA (blue). 
The path with the least resistance is leaning significantly to the downside, accentuated by a sell signal from the Moving Average Convergence Divergence (MACD) indicator. 
As long as the blue MACD line holds below the red signal line, bears are bound to hold the reins longer. The momentum indicator has to keep trending downwards to uphold the bearish thesis. 
<figure id="attachment_166320" aria-describedby="caption-attachment-166320" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26.png"><img decoding="async" class="size-full wp-image-166320" src="https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26.png" alt="Shiba Inu price prediction daily chart " width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26.png 2710w, https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26-300x161.png 300w, https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26-768x412.png 768w, https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2023/11/SHIBUSD_2023-11-27_15-49-26-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px"></a>
 <figcaption id="caption-attachment-166320" class="wp-caption-text">
 Shiba Inu price prediction daily chart |Tradingview
 </figcaption>
</figure> 
Dips could prove profitable if&nbsp;<a href="https://coingape.com/price/shiba-inu/">Shiba Inu price</a>&nbsp;can bounce off higher support areas, including 200-day EMA (purple) and the solid buyer congestion zone at $0.000008. 
Investors should consider buying the dips because bull runs also have pullbacks. Price corrections are necessary for the continuation of the uptrend. They allow previously sidelined investors to seek exposure to the token, thus creating the momentum for the next breakout. 
Therefore, the ongoing correction could usher in a spectacular rally in Shiba Inu price—one that could blast the meme coin above $0.00001. 
Investors could also consider buying SHIB based on key fundamentals like the dramatic increase in the&nbsp;<a href="https://coingape.com/shib-burn-surges-500000-as-shiba-inu-price-jumps/?utm_source=24hrsupdateall">token burn rate</a>, which hit over 444,000% on Monday. 
The token burn program is a strategy to reduce the available supply of crypto. It allows the burning of transaction fees and proceeds from specialized activities within the ecosystem. 
<figure id="attachment_166319" aria-describedby="caption-attachment-166319" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://coingape.com/wp-content/uploads/2023/11/Shibburn-3.png"><img decoding="async" class="wp-image-166319 size-full" src="https://coingape.com/wp-content/uploads/2023/11/Shibburn-3.png" alt="Shiba Inu&nbsp;burn rate" width="1052" height="632" srcset="https://coingape.com/wp-content/uploads/2023/11/Shibburn-3.png 1052w, https://coingape.com/wp-content/uploads/2023/11/Shibburn-3-300x180.png 300w, https://coingape.com/wp-content/uploads/2023/11/Shibburn-3-768x461.png 768w, https://coingape.com/wp-content/uploads/2023/11/Shibburn-3-150x90.png 150w" sizes="(max-width: 1052px) 100vw, 1052px"></a>
 <figcaption id="caption-attachment-166319" class="wp-caption-text">
 Shiba Inu&nbsp;<a rel="nofollow" href="https://www.shibburn.com/">burn rate</a>
 </figcaption>
</figure> 
Shiba Inu is among the crypto projects with the highest supply. It has over 589 trillion SHIB in total supply, considering that 410 trillion has been obliterated from the supply so far. 
Reducing Shiba Inu’s supply is paramount to enhancing its value in the future, especially if investors are looking forward to highs above $1. 
<h3 class="p1" id="related-articles">Related Articles</h3> 
<ul> 
 <li class="p2"><a href="https://coingape.com/binance-labs-fuels-web3-education-revolution-with-strategic-investment/?utm_source=24hrsupdateall">Binance Labs Fuels Web3 Education Revolution With Strategic Investment</a></li> 
 <li class="p2"><a href="https://coingape.com/why-is-luna-classic-lunc-price-skyrocketing-today/?utm_source=24hrsupdateall">Why Is Luna Classic (LUNC) Price Skyrocketing Today?</a></li> 
 <li class="p2"><a href="https://coingape.com/blur-price-slips-as-whales-move-717-mln-blur-to-binance-okx/?utm_source=24hrsupdateall">BLUR Price Slips As Whales Move 7 Mln BLUR To Binance &amp; OKX</a></li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/markets/shiba-inu-price-prediction-as-burn-rate-surges-442x-1-shib-incoming/">Shiba Inu Price Prediction As Burn Rate Surges 442x, $1 SHIB Incoming?</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Shiba Inu Price Prediction As Burn Rate Surges 442x, $1 SHIB Incoming?

Table of Contents

Coingape News Media

Other articles published on Nov 27, 2023

Trading Made Easy: A Beginner’s Guide to Telegram Trading Bots

Cardano (ADA) in Crucial Demand Zone, Is ADA Yearly High Possible?

Standard Chartered joins China's CBDC pilot testing

OKX launches crypto exchange and Web3 wallet in Brazil

Who is Richard Teng, Binance’s new CEO?

True Feeling and Real Living of the Metaverse in EXGOLAND

Join our free newsletter for daily crypto updates!