Price Analysis

Shiba INU To Explode Enduring 3x Rally – SHIB Price to Reach $0.000035!

Author: Qadir AK

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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Story Highlights
  • Shiba INU prices have been largely consolidated for quite a long time and hence a breakout towards the north appears to be the need of the hour

  • Technical indicators and the current trade set-up display the possibility of manifesting a massive breakout in the coming days that may raise the price by nearly 300%

The crypto markets have been under a significant bullish influence since the beginning of 2023 and hence the bullish start is expected to keep up the prices to some extent. While the Bitcoin price after breaching $17,000 appears to be stuck under $17,500.

The ease in the BTC price rally has enabled the altcoins like Cardano, Polygon, and Shiba INU to undergo a notable upswing. The SHIB prices are on the verge to break out of the consolidation and rise high in the coming days. 

The SHIB price has dropped by more than 70% from its highs at the moment in the past few days, it recorded a jump of over 25%. Meanwhile, the bears are trying very hard to validate their existence but excessive compression may lead to an explosion that is approaching very fast. A popular analyst Captain Faibik believes the SHIB price is due for a 250% to 280% upswing in the mid-term. 

Source: Twitter

As the SHIB prices are testing the upper resistance, the analyst believes that the token is due for a massive upswing and also provided a reason for the speculation of a breakout. 

“SHIB breakout is around the corner so keep your eyes on it..!!

-Descending channel Formation in 1D TF

-Buying volume Coming in 

-Expecting Breakout Soon

+250%-280% Profit Potential in the Midterm..”

Shiba INU (SHIB) price is hovering around $0.000008957 with a jump of 3.02% in the past 24 hours. The market capitalization of the token also witnessed a 2% jump recording levels around $4.92 billion with a trading volume of $440.59 million. The SHIB price is attempting for a parabolic run to reclaim the levels close to $0.00000935 beyond which erasing a zero from its value may not be a tedious job.

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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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