Shiba Inu Price Prediction as SHIB Becomes 11th Largest Crypto in The World – $1 SHIB Incoming?
The Shiba Inu price has rocketed by 60% today, reaching $0.00004137 as the wider crypto market enjoys a 3% gain in the past 24 hours.
SHIB has now recorded a 300% increase in a week and a 362% rise in a month, with the meme token rising up to 11th place in the market in terms of cap.
Yet with the coin still 53% down from its current record high of $0.00008616, it would also seem that it can afford to rise even further before necessitating a correction.
SHIB’s chart has basically gone stratospheric, with its current price far exceeding its 30-day average (yellow), which has in turn begun rising aggressively beyond the 200-day average.
It’s arguable that the market has now overbought SHIB already, given that its relative strength index (purple) is actually above 90 at the moment.
However, the chart also shows that the meme token had struggled to gain any kind of momentum for months, so it’s also arguable that a sustained period of strong growth is entirely possible.
Bullish demand for the meme coin is driving its rally at the moment.
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