Shiba

bullish

Read

Shiba Inu

Inu.

<p>What a sluggish summer for one of the biggest meme coins – Shiba Inu. The SHIB price lost 17% in the last 30 days and is now trading around $0.000014, which means it’s 226% away from its 2024 yearly high set in mid-March.</p>
<p>This kind of performance is frustrating SHIB holders, for sure.</p>
<p>However, the SHIB price had a bullish breakout from the Falling Wedge pattern a few days ago. This means it’s potentially signaling a temporary trend reversal with an upside target of +30%, reaching the $0.000020 resistance level.</p>
<h2 class="wp-block-heading" id="shiba-inu-chart-analysis">Shiba Inu Chart Analysis</h2>
<p>A Falling Wedge pattern is a bullish chart formation where price consolidates between downward sloping support and resistance lines. The support line has a steeper slope than the resistance line. As the pattern develops, trading volume typically diminishes. A breakout from this pattern often signals a potential reversal of the downtrend.</p>
<p>This resistance level is in line with the 200-day moving average. The 200-day moving average (MA) is a key technical indicator that represents the average closing price of an asset over the past 200 trading days.</p>
<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="459" src="https://captainaltcoin.com/wp-content/uploads/2024/08/SHIBUSD_2024-08-29_11-05-46-1024x459.png" alt="" class="wp-image-549501" srcset="https://captainaltcoin.com/wp-content/uploads/2024/08/SHIBUSD_2024-08-29_11-05-46-1024x459.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/08/SHIBUSD_2024-08-29_11-05-46-300x134.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/08/SHIBUSD_2024-08-29_11-05-46-768x344.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/08/SHIBUSD_2024-08-29_11-05-46-1536x688.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/08/SHIBUSD_2024-08-29_11-05-46-2048x917.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/08/SHIBUSD_2024-08-29_11-05-46-335x150.png 335w, https://captainaltcoin.com/wp-content/uploads/2024/08/SHIBUSD_2024-08-29_11-05-46-100x45.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/08/SHIBUSD_2024-08-29_11-05-46-781x350.png 781w, https://captainaltcoin.com/wp-content/uploads/2024/08/SHIBUSD_2024-08-29_11-05-46-788x353.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/08/SHIBUSD_2024-08-29_11-05-46.png 1826w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong>Source: <a href="https://captainaltcoin.com/go/tradingview-3/" rel="noopener noreferrer nofollow">TradingView</a></strong>
 </figcaption>
</figure>
<p>The Relative Strength Index (RSI) is currently between 45-50 across all time frames. An RSI between 40-60 is generally considered neutral, suggesting that the asset is neither overbought nor oversold.</p>
<p>The Moving Average Convergence Divergence (MACD) line is above the MACD signal line. This occurs when the short-term average is above the long-term average, potentially indicating bullish momentum. However, traders often look for confirmation from other indicators before making decisions based on MACD alone.</p>
<p><em><strong>Read also: <a href="https://captainaltcoin.com/dogs-price-prediction-can-the-top-8-meme-coin-flip-brett-and-bonk/" target="_blank" rel="noopener noreferrer nofollow">DOGS Price Prediction: Can the Top 8 Meme Coin Flip BRETT and BONK?</a></strong></em></p>
<h2 class="wp-block-heading" id="shib-price-forecast">SHIB Price Forecast</h2>
<p>Taking into account the technical analysis and the expectation that the bull run may continue in October and November 2024, SHIB could potentially see some upward movement. The breakout from the Falling Wedge pattern suggests a possible 30% increase, which could bring SHIB to the $0.000020 level.</p>
<p>If the “real” bull run starts, the <a class="wpil_keyword_link" href="https://captainaltcoin.com/shiba-inu-price-prediction/" title="Shiba Inu" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu</a> should be able to revisit previous yearly highs.</p>
<p>It’s important to note that the broader market sentiment and specific developments within the Shiba Inu ecosystem will play roles in determining its price trajectory.</p>
<h2 class="wp-block-heading" id="shibarium-stats">Shibarium Stats</h2>
<p>Recent<a href="https://www.shibariumscan.io/stats" target="_blank" rel="noopener noreferrer nofollow"> data from Shibarium</a> shows a concerning trend. The number of active accounts, new accounts, and transactions are all in a downtrend this month.</p>
<p>On average, the number of active accounts is around 300 this month, while new accounts are fluctuating between 5 and 15 per day. These figures aren’t particularly promising and could indicate waning interest or adoption of the Shibarium network.</p>
<h2 class="wp-block-heading" id="here-s-one-hot-new-meme-coin-to-consider-instead-of-shiba-inu">Here’s One Hot New Meme Coin to Consider Instead of Shiba Inu</h2>
<p>PandaWorld is positioning itself as a meme coin with a twist. It offers a unique revenue-sharing model that could potentially provide holders with passive income. The project is <strong><a href="https://thepandaworld.com/en" target="_blank" rel="noopener noreferrer nofollow">currently in presale</a></strong>, so you can buy PADW token at a discounted price before it hit exchanges.</p>
<p>As you know, many meme coins that rely heavily on hype and speculation. However, PandaWorld is attempting to build an ecosystem designed to generate sustainable revenue. This ecosystem includes several key components that set it apart from typical meme coin projects.</p>
<figure class="wp-block-image size-large"><a href="https://thepandaworld.com/en" target="_blank" rel="noopener noreferrer nofollow"><img loading="lazy" decoding="async" width="1024" height="455" src="https://captainaltcoin.com/wp-content/uploads/2024/08/image-873-1024x455.png" alt="" class="wp-image-549102" srcset="https://captainaltcoin.com/wp-content/uploads/2024/08/image-873-1024x455.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/08/image-873-300x133.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/08/image-873-766x340.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/08/image-873-1536x682.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/08/image-873-2048x909.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/08/image-873-338x150.png 338w, https://captainaltcoin.com/wp-content/uploads/2024/08/image-873-100x44.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/08/image-873-788x349.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/08/image-873.png 1658w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
</figure>
<p>At the heart of PandaWorld’s offering are Play-to-Earn (P2E) games. These games allow players to earn PADW tokens as they play, which can then be staked for additional rewards.</p>
<p>PandaWorld is also venturing into the online casino space. A portion of the profits generated from the casino operations are added to a central revenue pool. Token holders who stake their <a href="https://captainaltcoin.com/how-to-buy-pandaworld-padw-the-revolutionary-meme-coin-offering-passive-income/" target="_blank" rel="noopener noreferrer nofollow">PADW tokens</a> become eligible to receive a share of this revenue, creating a potential passive income stream.</p>
<p>In addition to gaming and gambling, PandaWorld is developing a content platform. Users will be able to create, share, and potentially earn from their digital content, such as art and memes. The revenue generated from this platform will also contribute to the profit-sharing pool.</p>
<p><em><strong>Read also: <a href="https://captainaltcoin.com/pepes-resurgence-top-trader-who-made-millions-buys-in-again/" target="_blank" rel="noopener noreferrer nofollow">PEPE’s Resurgence? Top Trader Who Made Millions Buys In Again</a></strong></em></p>
<p><em><strong>Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/is-shiba-inu-going-to-zero-shib-price-prediction/" rel="noopener noreferrer nofollow">Is Shiba Inu Going to Zero? SHIB Price Prediction</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Is Shiba Inu Going to Zero? SHIB Price Prediction

Table of Contents

CaptainAltcoin

Other articles published on Aug 29, 2024

Iowa Attorney General Warns of Romance Crypto Scam

Hamster Kombat (HMSTR) Token Airdrop Set for September 26

What Happened to the Top ICO Projects? This AI Altcoin Is Positioned to Outdo Them All

Gate Ventures and Abu Dhabi Blockchain Center Launch $100M Web3 Fund

Floki Price Prediction: FLOKI Pumps 14% In A Week, But Experts Are Bullish On This New Meme Coin ...

Telegram-style ‘mini DApps’ come to Line with Kaia mainnet launch

Join our free newsletter for daily crypto updates!