A cryptocurrency with a massive market cap has caught the attention of the financial world. Using the power of the shiba inu (SHIB) dog breed, the cryptocurrency bearing its name has gained huge traction among investors. This joke-inspired cryptocurrency has already outperformed major players, disrupting the crypto market.
A deeper understanding of Shiba Inu is required to predict its price trajectory or determine its potential growth in 2023 and 2025. In this article, let us find out if Shiba Inu has a bright future and what its long-term outlook seems like.
Let us begin with Shiba Inu price technical analysis and price predictions
According to technical analysis, Shiba Inu has a long way to go before gaining momentum again. A real possibility exists that its value could go to zero. Based on this scenario, trading Shiba Inu CFDs could be a good idea.
The advantage of doing so is that you will not be required to maintain custody of your securities when you engage in short selling. The price continues to decline so that you can place your bets accordingly as the price declines. Shiba Inu must continue to rebound above its historically low value of $0.00000716 to achieve a substantial recovery. This is an incredibly low value to begin with.
A price below this threshold is likely to relegate this cryptocurrency to obscurity. There is a real threat posed by the influx of many random coins into the cryptocurrency space as individuals seek quick profits. As a measure of true strength, the market must surpass the 50-day Exponential Moving Average and reach a price point of $0.00001000. For minor coins to go up, Bitcoin and other bigger markets need to move up.
Currently, Shiba Inu is experiencing a decline, and it’s predicted this downward trajectory will continue and eventually reach $0.0000065. This decline has been caused by the breakdown of its formation and the subsequent descent below the 50-day exponential moving average.
During the first half of 2023, Shiba Inu (SHIB) experienced a year-to-date decline of 7.64%. At present, it is trading at a significant 91.65% below its all-time high of $0.00008854. The failure to initiate a golden cross has caused SHIB to retreat from the 50-day EMA, extending its current bearish phase.
The cryptocurrency has been in a downward trend for the past few months, although there are indications of a potential recovery. Encouraging signals are visible through the resistance trendline break.
This suggests the possibility of SHIB reaching $0.00001690 by the end of 2023, should it continue to rise beyond this level.
In the past few years, Shiba Inu tokens have been recognized by luxury brands and retailers. The price could be affected a lot by this growing acceptance. Shiba Eternity and the SHIB army’s efforts to promote Shiba Inu across many sectors, including DeFi and NFTs, are also contributing factors.
The coin’s price is predicted to align with the DOGECOIN Killer title because of these factors. It could go as high as $0.00002026 in the future. Despite that, it is essential to consider how declining meme coin volumes could impact the SHIB coin price, which could drop to $0.00001139. Based on these scenarios, the SHIB coin will go for $0.000015825.
Before you invest in SHIB coins, you should do your research and analysis. Prices are subject to market fluctuations and other things.
SHIB will rise to $0.00003965 as Shiba Inu becomes a major player in the Metaverse. On the other hand, if the community used its influence to buy and sell, SHIB would trade at $0.000035215 on average instead.
It is worth considering if SHIB goes down to $0.00003078. Investors must monitor and respond to market conditions to keep SHIB’s value. If they do not, SHIB will not be able to maintain liquidity on exchanges.
Ultimately, Shiba Inu has an uncertain but optimistic future. Shiba Inu could see significant growth by 2025 with its popularity and potential utility. Moreover, you should approach this investment with caution and do some research before you invest. In the coming years, only time will tell how high Shiba Inu can go.