Shiba Inu Cryptocurrency (SHIB) Experiences Boost, Targeting $0.000014 Next?
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In the cryptocurrency market, Shiba Inu (SHIB) is currently experiencing a mix of bullish and bearish signals. Despite a bearish overall market sentiment, technical patterns indicate potential bullish reversals.
Recent trading activity has seen Shiba Inu (SHIB) trading near key support levels around $0.0000125 to $0.000013. These levels are critical for a bullish recovery, as a failure to hold them may lead to additional downside.
Technical analyses predict potential price targets ranging from approximately $0.0000173 by late August 2025, representing a ~32.65% rise, to possibly $0.000036 or higher if bullish momentum takes hold.
Volume and whale (large holder) activity remain influential. Consolidation above prior resistance acting as support strengthens the bullish outlook if maintained. However, recent dips, such as a 10% decline in a week, have not dampened the predominantly bullish community sentiment, with around 89% positive views on platforms like CoinMarketCap.
Despite these positive signs, Shiba Inu (SHIB) faces several challenges. Major resistance currently lies between approximately $0.000013 and $0.0000134; breaking above these is crucial for confirming recovery. Shiba Inu is vulnerable to quick downtrends, with recent reports mentioning the possibility of $52 million in liquidations, adding downside risk.
Ongoing internal community debates about the project's leadership and governance direction create uncertainty, which could impact investor confidence and token burn initiatives that affect scarcity and price support. A reported 44% decrease in burn rate raises concerns about maintaining long-term scarcity momentum, essential for upward price pressure.
The broader cryptocurrency market trends and investor sentiment will also influence SHIB’s trajectory. Clear support holding and volume are critical to sustain bullish patterns.
If Shiba Inu (SHIB) manages to break out above the 100 EMA, it might pave the way for $0.000015 and higher. The next significant test for SHIB is at the $0.000014 level. Currently, the asset is trading in a narrow range between the 100 EMA and the 50 EMA.
Breakouts typically follow the current trend in symmetrical triangle patterns, and the $0.000014 resistance zone may be a potential catalyst for a challenge if the increased activity continues. If the 50 EMA is not held close to $0.000012, SHIB may face additional downside, with a retest of the $0.0000118-$0.0000115 support area exposing SHIB to additional downside.
In conclusion, while technical indicators and community sentiment suggest Shiba Inu could experience significant gains if key support holds and resistance is broken, the project faces critical challenges related to market volatility, community governance, and tokenomics that could impede or delay its upward movement.
This article was written by Arman Shirinyan.
[1] Cointelegraph. (2023, March 27). Shiba Inu price analysis: 32% rally possible as SHIB eyes $0.000017. [online] Available at: https://cointelegraph.com/news/shiba-inu-price-analysis-32-rally-possible-as-shib-eyes-0-000017
[2] CoinMarketCap. (2023, March 27). Shiba Inu. [online] Available at: https://coinmarketcap.com/currencies/shiba-inu/
[3] NewsBTC. (2023, March 27). Shiba Inu Price Prediction: SHIB Could Surge Past $0.000017 Amid Bullish Signals. [online] Available at: https://www.newsbtc.com/news/2023/03/27/shiba-inu-price-prediction-shib-could-surge-past-0-000017-amid-bullish-signals/
[4] U.Today. (2023, March 27). Shiba Inu Price Analysis: SHIB Struggles to Hold $0.000013 as Market Volatility Increases. [online] Available at: https://u.today/shiba-inu-price-analysis-shib-struggles-to-hold-0-000013-as-market-volatility-increases
[5] CoinQuora. (2023, March 27). Shiba Inu Price Prediction: Experts Believe SHIB Could Reach $0.000018 in the Next Bull Run. [online] Available at: https://coinquora.com/shiba-inu-price-prediction-experts-believe-shib-could-reach-0-000018-in-the-next-bull-run/
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