Decentralized Finance

Here’s Why Shiba INU Price May Go To Moon Very Soon!

Highlights

    Shiba Inu price maintains uptrend for the second consecutive day manifesting a strong willingness to surge to new highs

    The healthy technical movement with a rise and build in the channel suggest a huge massive outbreak awaiting ahead

Shiba INU Price Going Parabolic!

Shiba Inu, one of the most popular meme tokens that gained traction in recent times is all set to go parabolic to reach the previous highs. The price despite a narrow trend got listed on many exchanges like Binance, Huobi, Okex, Poloniex, etc.

Since then, the SHIB price gained a wide exposure to millions of customers world wide. And as a result the SHIB holders are adding up to the ecosystem with large numbers. Therefore, the swelling popularity aided the price surge as well. 

Currently, the price is forming a cup and handle pattern and if it breaks, the upcoming jump may lead the price above $0.00001180 as predicted by an analyst.

Also Read: Shiba Inu Price to Double? SHIB Price Poised for 35% Upswing!

SHIB Price Analysis

SHIB price ended the previous month’s trade with a bearish note without any healthy consolidation. The price from the highs of $0.00001202 slides drastically around $0.00000732 with a very small time frame. 

However with the beginning of the current trading month, the price absorbed a huge bullish momentum to swell further. The crypto market appears to have inculcated a pretty healthy recovery from the past month crash and hence SHIB price too followed the suit. 

shib parabolic

At the time of writing, the SHIB price is $0.000009907 with a jump of 12.6% in the past 24 hours. Currently the price needs to test the pivotal levels at $0.00001 and also sustain above these levels to keep the bullish momentum intact.

Technical specifications

  • The resistance levels are at $0.000001011
  • The support levels are at $0.00000928
  • The indicators are currently neutral

Also Read : Ultra Bullish Predictions for Ethereum! ETH Price Poised to Hit $10k in July!

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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