The famous memecoin Dogecoin (DOGE) has an Ethereum-based rival in the form of the Shiba Inu (SHIB) token. SHIB is purposely plentiful, as opposed to Bitcoin, which has a quadrillion total supply and is intended to be scarce. Projects like an NFT art accelerator and the creation of a decentralized exchange called Shibaswap are supported by the Shiba Inu Token ecosystem.
The SHIB token was created as a Dogecoin (DOGE) substitute that works with Ethereum. Other initiatives supported by the Shiba Inu ecosystem include a decentralized exchange called Shibaswap and an incubator for NFT art.
SHIB, as opposed to DOGE, is compatible with the Ethereum environment. As a result, the community has been able to develop blockchain applications like ShibaSwap, a DEX that enables users to trade and stake tokens without the use of a middleman. The Shiba community intends to introduce an NFT platform and “DoggyDAO”—a DAO-based governance system—for the Shiba ecosystem in the future.
Prices:
By July 12, 2023, the value of Shiba Inu is expected to decrease by -7.60% and reach $ 0.000006772, based on our current price estimate. Our technical indicators indicate that the present mood is bearish, and the Fear & Greed Index reading is 55 (Greed).
Shiba Inu saw 6.23% price volatility during the previous 30 days and 19/30 (63%) green days. Our Shiba Inu forecast indicates that now is a terrible time to purchase a Shiba Inu.
BASIC INFO:
- The current Shiba Inu price, according to our real-time SHIB to USD price update, is $0.0000072 USD.
- By July 8th, 2023, the value of a Shiba Inu is expected to rise by 0.95% and reach $0.000007667, according to our most current price estimate.
- The Shiba Inu market mood is 15% Bearish Bullish according to our technical indicators, while the Fear & Greed Index is showing a score of 56 (Greed).
- Shiba Inu has had 6.42% price volatility and 20/30 (67%) green days during the previous 30 days.
TECHNICAL ANALYSIS:
Shiba Inu’s current price is $$0.000007, according to the most recent statistics, and SHIB is now ranked No. 18 in the whole crypto ecosystem. Shiba Inu has a circulating supply of $4,418,227,756.74 and a market capitalization of 589,347,844,603,534 SHIB.
The cryptocurrency’s current value has grown by $0.00000028 in the last 24 hours. SHIB has been on a solid rising trend for the previous 7 days, growing by 2.37%.
Shiba Inu has recently demonstrated exceptional potential, and now might be an excellent time to jump in and invest.
SHIB’s price has risen by 11.77% in the last month, adding a massive average of $0.0000009 to its present worth. Because of its rapid development, the currency has the potential to become a valuable asset if it continues to rise.
Moving averages are widely used in all financial sectors. A moving average (MA) is used to smooth price activity over a set period of time. Moving averages are a lagging indicator, meaning they are reliant on prior price behavior.
EMA 200 – Shiba Inu is now trading below its 200-day SMA. Since April 20, 2023, the 200-day SMA has been signaling SELL for the previous 77 days.
EMA 50 – Shiba Inu’s price is now below the 50-day simple moving average, and this indicator has been signaling SELL for the previous 11 days, since June 25, 2023.
The most recent Bitcoin Death Cross occurred 62 days ago, on May 5, 2023. Meanwhile, the latest Golden Cross happened 142 days ago on February 14, 2023. According to our technical indicators, Shiba Inu’s 200-day SMA will fall during the next month and reach $ 0.000009798 on August 5, 2023. Shiba Inu’s 50-Day SMA is expected to reach $ 0.000007086 by August 5, 2023.
RSI: The momentum oscillator Relative Strength Index (RSI) is a prominent indicator that indicates if a cryptocurrency is oversold (below 30) or overbought (over 70). The RSI is now at 48.65, indicating that the SHIB market is in a neutral state.
Pivot Point: Shiba Inu has support levels of $ 0.000007109, $ 0.000006945, and the strongest at $ 0.000006618 based on today’s traditional pivot point (P1) of $ 0.000007437. Shiba Inu resistance levels are $ 0.000007601, $ 0.000007929, and $ 0.000008093, respectively.
Oscillators:
An oscillator is an indicator tool that creates high and low bands between two extreme values before constructing a trend indicator that oscillates within these boundaries. The trend indicator is used by traders to identify short-term overbought or oversold positions.
Prediction:
Next month: cryptocurrency specialists will release their projection for the SHIB price in August 2023. During this month, the least trading cost might be $$0.00000713, while the maximum could be $1.59. Shiba Inu are projected to be valued at roughly $$0.795 on average.
ROI potential: 21059502.6%
2025 Prediction: According to cryptocurrency specialists’ technical research of Shiba Inu prices, SHIB is anticipated to have the following lowest and maximum prices in 2025: about $$0.00001714 and $$0.00002120, respectively. The anticipated trading cost is $$0.00001765.
