Shiba

Shiba Inu

Coin

SHIB price prediction: Shiba Inu Coin has recently been on the investor’s radar as the dog-themed <a href="https://coingape.com/top-memecoins-on-base/" rel="noopener noreferrer nofollow">meme coin</a> began to make hype once more. In the March post-Bitcoin ETF rally, SHIB price gained a whopping 390%. Data from <a rel="noopener noreferrer nofollow" href="https://www.coingecko.com/en/coins/shiba-inu">CoinGecko</a> shows Shiba Inu price traded around $0.0000259 during European hours, a 5.5% decrease in the last 24 hours and a 6.1% increase in 7 days.&nbsp;
<h2 id="span-style-font-weight-400-shib-price-prediction-bulls-target-32-gains-in-a-major-chart-pattern-breakout-span">SHIB Price Prediction: Bulls Target 32% Gains in a Major Chart Pattern Breakout</h2>
<img decoding="async" class="aligncenter size-full wp-image-199811" src="https://coingape.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-31-at-10.10.29.jpeg" alt="shiba inu price" width="1280" height="565" srcset="https://coingape.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-31-at-10.10.29.jpeg 1280w, https://coingape.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-31-at-10.10.29-300x132.jpeg 300w, https://coingape.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-31-at-10.10.29-1224x540.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-31-at-10.10.29-768x339.jpeg 768w, https://coingape.com/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-31-at-10.10.29-150x66.jpeg 150w" sizes="(max-width: 1280px) 100vw, 1280px">
<a href="https://coingape.com/price/shiba-inu/" rel="noopener noreferrer nofollow">SHIB price</a> is currently in an ascending triangle and almost at the end. Ascending triangles show investors’ interest and accumulation as the highs remain relatively flat with lows rising higher. If the market structure holds, Shiba Inu may break out on the upside and rally 32% to around $0.000036.
The second-largest meme coin’s action is currently trending well above the 50-day and 200-day simple moving average (<a href="https://coingape.com/education/simple-moving-average-how-to-leverage-it-in-crypto-market/" rel="noopener noreferrer nofollow">SMA</a>), which is a bullish signal. However, despite the gradual price increase, SHIB’s 24-hour trading volume is down 40%, according to data from Coingecko.
Nevertheless, investors remain confident in Shiba Inu, as Coingecko stats show 74% of users are bullish against 26% who are bearish.
On its way up, the SHIB price may encounter several key resistance points around $0.000029, $0.000026, and $0.000041. Conversely, a heavy support structure has formed around the current price level ($0.000025) that may hold up the price.
<h2 id="span-style-font-weight-400-shib-price-future-outlook-span">SHIB Price Future Outlook</h2>
<a href="https://coingape.com/price-predictions/shiba-inu-shib-price-prediction/" rel="noopener noreferrer nofollow">Shiba Inu’s price</a> fundamentals are strong as the meme coin rides in favor of its huge community. <a href="https://coingape.com/coinbase-adds-shiba-inu-floki-bonk-full-trading-mode-prices-recover/" rel="noopener noreferrer nofollow">Coinbase</a> Futures recently announced support for SHIB perpetual futures, with trading beginning on May 30, 2024.
Despite the meme origins of the cryptocurrency, Shiba Inu has established itself as a resilient crypto project in the face of market volatility.
Several renowned crypto analysts have also called for imminent SHIB price breakouts in the near future. <a rel="noopener noreferrer nofollow" href="https://x.com/ali_charts/status/1785602766280286684">Ali Martinez</a> suggested a 20% upswing in price if the SHIB price breaks above $0.000025.&nbsp;
Nexo, a leading centralized <a href="https://coingape.com/crypto-exchanges/" rel="noopener noreferrer nofollow">crypto exchange</a>, announced SHIB as their new listing, citing its evolution from a joke meme coin to a formidable DeFi giant. Another subsidiary of VanEck, the billion-dollar U.S. asset management firm, has launched a new MEMECOIN index that features some top crypto meme tokens, including SHIB.
Such developments surrounding Shiba Inu point to the rising interest in SHIB among investors.
<h2 id="span-style-font-weight-400-bottom-line-span">Bottom Line</h2>
Meme tokens have matured from just fun and games, into utility-based projects. Shiba Inu is the best example of how memes and technology can mesh together to create formidable financial products. Investors continue to monitor SHIB’s price closely, awaiting a good entry opportunity before the breakout.
The post <a href="https://coingape.com/markets/shib-price-prediction-reasons-why-shiba-inu-coin-is-ready-for-0-0001/" rel="noopener noreferrer nofollow">SHIB Price Prediction: Reasons Why Shiba Inu Coin Is Ready For $0.0001?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

SHIB Price Prediction: Reasons Why Shiba Inu Coin Is Ready For $0.0001?

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