The Shiba inu cryptocurrency – the token of which is SHIB -shot up by more than 120% after a tweet from Tesla (TSLA) CEO Elon Musk reignited interest in it. Its price had been range-bound after it collapsed from its peak in May. But traders piling into the market took advantage as prices jumped up to $0.00002299 on 6 October. Are you looking for a quick Shiba Inu price prediction? Watcher.Guru has perfect insight. This article highlights Shiba Inu Price Prediction for the next 10 years.
Shiba Inu Price Rises in Response to Musk Tweet
Shiba inu was launched in August 2020. It’s a play on the DOGE meme which itself parodies cryptocurrencies and their popularity among crypto investors.
The Shiba token was on fire in May, when it spike by 2,405% within three days to peak at $0.0000388. Elon Musk’s appearance on the Saturday Night Live, show sparked a sell-off of DOGE because he talked up the cryptocurrency as being “a hustle.”
The Shiba coin price quickly drop back and largely traded between $0.000006 and $0.000008 over the summer.
Shiba Inu Technical Analysis
Technical analysis shows that SHIB is bullish on short-term sentiment, according to CoinCodex. 24 out of 29 indicators point towards bulls who have 12 more days’ worth or gain than bears.
It gave the three-day exponential moving average and the 200 days a buy signal. The Relative Strength Index (RSI) moved into oversold territory when it dropped below 30. Thus consideration is an indicator that sales should be on.
The wallet investor algorithm predicts that SHIB will reach $0.000058 by the end of 2025, surpassing its previous all-time high price of 0.0000032 USD.
The DigitalCoin Shiba inu forecast suggests that the price will average $$0.0000345254 by 2021, rising to an average of $0.00007202171 by 2023 and reaching a peak at about 6 dollars per coin in 2025.
Shiba Inu Price Prediction
The price of the Shiba inu coin is predicted to be volatile for a while and then level off. By 2028, it will have reached its highest point at around $0.00013775 but could drop as low as $0.00002381 by 2030 if bitcoin doesn’t rise again before 2030.
In the long-term, it is projected that prices for this cryptocurrency will go as high as $0.00006558 by 2025. And climb even higher to reach $0.00044574 in 2030.
Cryptocurrency markets remain highly volatile, making it difficult to accurately predict a coin’s price in the next few hours. And even harder for long-term estimates. As such, analysts can get their predictions wrong when they try too hard. Or rely on traditional methods that may not work as well.
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