Shiba Inu Price Prediction: Soars 16%, Is This Meme Coin Following a New Trend?

Bittime - Curious about latest Shiba Inu price prediction? Keep reading this article to find out, OK!

The price of Shiba Inu (SHIB) jumped 16% yesterday. Meanwhile, SHIB is trading at around IDR 0.27 (exchange rate $0.00001692) per coin. This increase occurred even though SHIB trading volume fell 10% to around IDR 6.8 trillion (exchange rate $424 million).

This price spike is thought to have been triggered by SHIB whale activity which increased rapidly over the last 24 hours. According to IntoTheBlock, the volume of large SHIB transactions jumped more than 176% to 4.18 trillion SHIB, or around IDR 1 trillion (exchange rate $62.57 million). 

This increase in activity indicates that SHIB whales are accumulating or moving large amounts of SHIB.

Time to Buy SHIB?

Analysts from GeckoTerminal observed that SHIB price managed to rise from below the descending channel trendline. This indicates that the buyers (bulls) are starting to take control and are preparing to push the price higher.

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If the SHIB daily price chart manages to close above this trend line, it could be a signal for the bulls to start a price rally within the channel pattern. In fact, SHIB has the potential to break new highs in the next few days.

Additionally, bulls need to push SHIB price past the 50-day and 200-day simple moving averages (SMAs) which are currently the closest resistance. Breaking through this level could make the bulls stronger to push the price higher and potentially break through both SMAs.

The golden cross, where the 50-day SMA crosses above the 200-day SMA (around IDR 0.135 - rate $0.00000831), could be a signal of a continuation of the bullish trend.

This bullish momentum is further supported by the Relative Strength Index (RSI) which shows an increase from the oversold (oversold) level of 30 and is now around the midline of 50. If the RSI continues to rise, bulls have the opportunity to push it to the overbought (overbought) level of 70.

Prediksi Harga Shiba Inu (SHIB)

In the short term, observers are watching how SHIB whales strategically accumulate SHIB. This may be in anticipation of future price increases, taking advantage of current market dynamics. 

In this scenario, SHIB could reach the next significant target in the range of IDR 0.240 - IDR 0.305 (exchange rate $0.000015 - $0.000019).

Moreover, all indicators point to a bullish trend reversal. If the bullish momentum continues above IDR 0.390 (exchange rate $0.00002410), bulls could reclaim the previous high of IDR 0.680 (exchange rate $0.00004197).

However, resistance at this level could attract selling interest, potentially causing a fall back to the previous support level of IDR 0.240 (exchange rate $0.00001486).

Shiba Shootout (SHIBASHOOT) is finished Shiba Inu Next?

Interestingly, amidst the surge in interest in Shiba Inu, interest has also emerged in a new meme coin derived from SHIB called Shiba Shootout (SHIBASHOOT). This project managed to raise more than IDR 8 billion (exchange rate $500,000) in just a few days after its launch.

SHIBASHOOT tells the story of Marshal Shiba, a legendary and intelligent figure who roams the digital world, gathering Shiba Inu fans for epic battles. The mission is to ensure Shiba Showdown reigns supreme in the “Wild West” of crypto.

SHIBASHOOT will launch on Ethereum and BNB Smart Chain, supporting ERC-20 and BEP-20 standards as explained in the Shiba Shootout Wiki.

With 20% of the total token supply (440 million $SHIBASHOOT) allocated specifically for staking rewards, you can earn profits of up to 1,987% per year by staking your tokens.

SHIBASHOOT has caught the attention of crypto experts like Jacob Crypto Bury, a famous YouTuber with more than 41,000 subscribers. Bury speculates that the project has the potential to soar 10-fold after its launch, similar to the trajectory that Shiba Inu itself experienced.

Cara Beli Crypto di Bittime

You can buy and sell crypto assets in an easy and safe way via I'm done. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets at I'm done, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Study Complete Guide How to Buy Crypto on Bittime. 

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