Shiba Inu Price Prediction as SHIB Spikes Up 4% – Here’s Where It’s Heading Next
Shiba Inu price is up 1.5% daily and is among the few top 100 cryptocurrencies in the green. Investors have recently been shifting attention back to the global meme market while Bitcoin (BTC) and Ethereum (ETH) struggle to sustain key support areas.
Despite the small tick-up in price, trading volume dipped by 42% to $133 million over the last 24 hours. SHIB is the 15th largest cryptocurrency, boasting approximately 4.7% in market capitalization.
The sell-off that has been eating up Shiba Inu price over the last few weeks started to fade immediately after an unexplained countdown was posted on the project’s Twitter handle. Before the link to the countdown, users were requested to allow the Domain Name Service (DNS) to propagate correctly.
The community could be looking forward to Shiba Inu price rising to hit $1, bolstered by two new tokens referred to as LEASH and BONE. The Shiba Inu Incubator is also at the center of the mysterious countdown, promising an innovative reward system.
Shiba Inu price is preparing to chew another zero after rebounding from support at $0.000008. After printing three consecutive green candles, the second-largest cryptocurrency trades at $0.00000871. A break is required above the token’s immediate hurdle, as highlighted at $0.000009.
Such a move could be strong enough to push Shiba Inu price to tag resistance at $0.00000946, reinforced by the 50-day Exponential Moving Average (EMA) (in red). It is worth mentioning that SHIB is also grinding closer to a falling wedge pattern breakout.
For now, the focus is on the bulls’ ability to obliterate the seller congestion at $0.000009. Traders wishing to trigger their long positions may consider doing so after Shiba Inu breaks and holds above the upper trend
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