Shiba Inu (SHIB) Price Prediction 2023 — Will SHIB Hit $0.00005 Soon?

• Bullish SHIB price prediction for 2023 is $0.00001424 to $0.00001973.
• Shiba Inu (SHIB) price might reach $0.00005 soon.
• Bearish SHIB price prediction for 2023 is $0.00000787.

In this Shiba Inu (SHIB) price prediction 2023, we will analyze the price patterns of SHIB by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.

Shiba Inu (SHIB) Current Market Status

What is Shiba Inu (SHIB)?

Shiba Inu (SHIB) was launched on the Ethereum blockchain and also resides on the Binance Smart Chain (BSC). This popular memecoin was developed and launched in 2020 by a pseudonymous founder Ryoshi.

The Shiba Inu ecosystem is likely to launch its layer-2 blockchain called Shibarium by 2023. In March 2023, Shibarium Beta – named Puppynet – was launched. Alongside SHIB, Bone ShibaSwap (BONE) and Doge Killer (LEASH) are other tokens of the Shiba Inu ecosystem.

Shiba Inu (SHIB) Price Prediction 2023

Shiba Inu (SHIB) ranks 14th on CoinMarketCap in terms of its market capitalization. The overview of the Shiba Inu price prediction for 2023 is explained below with a daily time frame.

In the above chart, Shiba Inu (SHIB) laid out an ascending triangle pattern, this triangle is formed by a horizontal upper trendline that connects the highs and a lower trendline that connects the rising lows. Typically, this pattern suggests the possibility of the continuation of the ongoing trend.

At the time of analysis, the price of Shiba Inu (SHIB) was recorded at $0.0000102. If the pattern trend continues, then the price of SHIB might reach the resistance levels of $0.00001487, and $0.00002848. If the trend reverses, then the price of SHIB may fall to the support of $0.00001005 and $0.00000780.

Shiba Inu (SHIB) Support and Resistance Levels

The chart below shows the support and resistance levels of Shiba Inu (SHIB).

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Shiba Inu (SHIB). 

As per the above analysis, if Shiba Inu’s (SHIB) bulls take the lead, then it might hit and break through its resistance level of $0.00001973.

Conversely, if Shiba Inu’s (SHIB) bears dominate the trend, the price of SHIB might plunge to  $0.00000787.

Shiba Inu (SHIB) Price Prediction 2023 — RVOL, MA, and RSI

The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Shiba Inu (SHIB) are shown in the chart below.

The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes.  It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment. 

At the time of analysis, the RVOL of Shiba Inu (SHIB) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend.

The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days.  When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish).

Notably, in the above chart, the SHIB price lies below 50 MA (short-term), indicating its downtrend. Hence, SHIB is in a bearish state. Although this is the current state, a trend reversal might occur.

Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state. 

Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.

At the time of analysis, the RSI of SHIB is at 38.06. Therefore, this indicates SHIB is nearly in an oversold state. Thus, it confirms a buy signal.

Shiba Inu (SHIB) Price Prediction 2023 — ADX, RVI

In the below chart, we analyze the strength and volatility of Shiba Inu (SHIB) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI).

To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100.

According to the data on the above chart, the ADX of SHIB lies in the range of 19.795 pointing out a weak trend. 

The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of SHIB lies below 50, indicating low volatility. 

Comparison of SHIB with BTC, ETH

The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and Shiba Inu (SHIB).

From the above chart, we can interpret that the price action of SHIB is similar to that of BTC and ETH. That is, when the price of  BTC and ETH increases or decreases, the price of SHIB also increases or decreases respectively.

Shiba Inu (SHIB) Price Prediction 2024-2030

With the help of the aforementioned technical analysis indicators and trend patterns, Let us predict the price of Shiba Inu (SHIB) between 2024 and 2030.

Shiba Inu (SHIB) Price Prediction 2024

If bulls dominate the price momentum and trend patterns, then Shiba Inu (SHIB) might successfully test and surpass its resistance levels to hit $0.0001 by 2024.

Shiba Inu (SHIB) Price Prediction 2025

The significant upgrades in the Shiba Inu ecosystem might persuade the entry of an increased number of investors. This may eventually boost the Shiba Inu (SHIB) price to reach $0.0007 by 2025.

Shiba Inu (SHIB) Price Prediction 2026

If Shiba Inu (SHIB) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $0.002. 

Shiba Inu (SHIB) Price Prediction 2027

Shiba Inu (SHIB) might sustain major resistance levels and continue to be recognized as a good investment option. If it stands so in the market, SHIB would rally to hit $0.005. 

Shiba Inu (SHIB) Price Prediction 2028

If Shiba Inu (SHIB) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, SHIB would hit $0.009 by 2028.

Shiba Inu (SHIB) Price Prediction 2029

If investors flock in and continue to place their bets on Shiba Inu (SHIB), then the crypto would witness major spikes. Hence, SHIB might hit $0.03 by 2029.

Shiba Inu (SHIB) Price Prediction 2030

If the trend momentum aligns in favor of Shiba Inu, then the SHIB price is expected to rally to $0.1 by 2023. Furthermore, SHIB would hold a positive market sentiment and be recognized as a long-term investment with a highly profitable ROI.

Conclusion

If Shiba Inu (SHIB) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Shiba Inu (SHIB) price prediction for 2023 is $0.00001973. Comparatively, the bearish Shiba Inu (SHIB) price prediction for 2023 is $0.00000787.  

If there is a positive elevation in the market momentum and investors’ sentiment, then Shiba Inu (SHIB) might hit $0.00005. Furthermore, with future upgrades and advancements in the Shiba Inuecosystem, SHIB might surpass its current all-time high (ATH) of $0.00008845 and mark its new ATH.

FAQ

1. What is Shiba Inu (SHIB)?

Shiba Inu (SHIB) is a popular memecoin that was launched in 2020 as an ERC-20 token. It is compatible with both the Ethereum blockchain and Binance Smart Chain (BSC).

2. Where can you buy Shiba Inu (SHIB)?

Traders can trade Shiba Inu (SHIB) on the following cryptocurrency exchanges such as Binance, Coinbase Exchange, KuCoin, Bitfinex and OKX.

3. Will Shiba Inu (SHIB) record a new ATH soon?

With the ongoing developments and upgrades within the Shiba Inu platform, Shiba Inu (SHIB) has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Shiba Inu (SHIB)?

Shiba Inu (SHIB) hit its current all-time high (ATH) of $0.00008845 on October 28, 2021.

5. What is the lowest price of Shiba Inu (SHIB)?

According to CoinMarketCap, SHIB hit its all-time low (ATL) of $0.000000000082 on September 01, 2020.

6. Will Shiba Inu (SHIB) hit $0.00005?

If Shiba Inu (SHIB) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $0.00005 soon.

7. What will be the Shiba Inu (SHIB) price by 2024?

Shiba Inu (SHIB) price might reach $0.0001 by 2024.

8. What will be the Shiba Inu (SHIB) price by 2025?

Shiba Inu (SHIB) price might reach $0.0007 by 2025.

9. What will be the Shiba Inu (SHIB) price by 2026?

Shiba Inu (SHIB) price might reach $0.002 by 2026.

10. What will be the Shiba Inu (SHIB) price by 2027?

Shiba Inu (SHIB) price might reach $0.005 by 2027.

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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.