Shiba Inu Volume Drops By 28% Making Investors To Search For Better Alternatives
In the wake of a significant28% decline in Shiba Inu's trading volume, the outlook for this crypto asset enters a phase of heightened uncertainty, despite having an upward movement.
Today August 15, 2023, Shiba Inu's price is slightly down 3%at 04:50 EST, with a market value of$0.041027in the last 24 hours.
Shiba Inu Price PerformanceDespite a slight price drop today, its current value remains positive for its prices throughout the past month, with a 27% price gain. SHIB has shown a positive price trajectory and witnessed an extra23% increase within 14 days.
Furthermore, the present price of the digital asset means a 14% price gain in the past week.
Technical Indicators on Shiba Inu Daily Chart
As shown in the chart, the price of Shiba Inu is trading above the 50-Day and 200-Daysimple moving averages (SMA), which suggests a bullish market scenario.
TheMoving Average Convergence Divergence (MACD) trades above the signal line with faded green histogram bars, indicating a bullish state for the asset.But traders should trade cautiously as the fainted green bars indicate a falling buying pressure.
Additionally, the Relative Strength Index RSI being at 65.45 in the neutral zone but approaching the overbought zone suggests an increase in Shiba's market value.
A combination of the following indicators indicates a bullish market outlook for Shiba in the coming weeks.
Although, traders and investors should consider other metrics before taking any trading decision considering the crypto market is highly volatile and frequent price fluctuation is inherent.
Key Price Levels on the Shiba Inu Chart
Based on the chart above, the token is experiencing growing buying pressure, as seen by the presence of the forming green candlestick. If the bulls maintain this bullish momentum, the force could push SHIB's price to the $0.041054 resistance.
However, when the bears somehow grab control of the token market, their actions might drag the asset's price to the $0.05864 R & S Flip Zone in the coming weeks. At the flip zone, the token may witness either a downward or upward movement depending on the market sentiment.
Nonetheless, in a scenario where there is prevalent selling pressure, forcing Shiba to trade below the flip zone, fear could set in, and the resultant effect could be a further drop of the token's market value to the $0.05756 support.
Expert Price Prediction for Shiba InuConsidering Shiba Inu's price volatility at the start of 2023, cryptocurrency analysts atChangellyanticipate an average SHIB value of approximately $0.00000965 by August 2023. Within this timeframe, the projected range for its lowest and highest prices is approximately $0.00000868 and $0.0000106, respectively.
DigitalCoinPriceexpressed optimism regarding SHIB's future price trajectory. According to their Shiba Inu price projection for 2030, a bullish sentiment suggests an average valuation of $0.000117 during that period.
WalletInvestor'sShiba Inu cryptocurrency price forecast adopted a distinctly pessimistic tone. The prediction strongly indicated challenging times ahead, with SHIB potentially facing a difficult year and plummeting to a minimal value of $0.000000921 by the start of April 2024.
CryptoPredictions.comoffered an outlook on Shiba Inu's price performance for 2025.
The prediction envisioned SHIB commencing the year at $0.00001488, experiencing a climb to approximately $0.0000167899 by June, and potentially concluding the year with a value of around $0.0000188885.
Factors That Could Affect the Price of SHIBIn a recent development, the anonymous head developer of Shiba Inu, Shytoshi Kusama, shared an update on the official Shibarium Tech" Telegram channel, hinting at upcoming partnerships for SHIB. The SHIB community affectionately refers to these collaborations as partnerSHIBs."
Kusama brought joy to the SHIB community, revealing that Shiba Inu has three new partnerships in the pipeline. But he refrained from revealing the identities of the companies involved.
Also, he indicated that one of these partnerSHIBs" has already finalized its agreement (dry ink"), signifying its official confirmation. Additionally, Shiba Inu's decentralization house" is set to welcome new remarkable and influential advisors."
The second partnerSHIB" has garnered focus for its emphasis on technology advancement and impactful initiatives, with the anticipated unveiling slated for later in August.
Shytoshi, however, remained discreet about the third partnership, except for hinting that it will swiftly follow and is deserving of a celebratory toast.
He also emphasized that these initial partnerSHIBs" represent only the beginning of a series of collaborations that the SHIB team aims to forge. This partnership can impact SHIB's price by boosting investor confidence, expanding adoption, and influencing market sentiment.
Positive collaborations can increase demand, trading volume, and media attention, potentially leading to price growth.
Shibie an Explosive Meme With 100x Potential
Recently introducedShibie Coinhas achieved rapid success, exceeding $235K within a weekin its presale phase. Given its leverage on two popular trends, this strong initial performance is expected: the highly successful Barbie movie setting box office records and the dynamic Shiba Inu community.
Features and Tokenomics of ShibieThe project team is committed to maximizing the current Barbie craze's potential, reserving 5% of the total token supply for marketing tactics to enhance $SHIBIE's user adoption and outreach.
The team intends to engage influencers for token promotion on platforms like Twitter, YouTube, Telegram, and Discord trading groups. Simultaneously, partnerships with media sources are expected to enhance Shibie's visibility across cryptocurrency news websites.
These comprehensive strategies underscore the developers' focus on immediate expansion and enduring sustainability - an atypical approach in the typically unstable realm of meme coins.
To ensure a seamless trading experience for investors, the token has allocated 20% of its tokens for liquidity on decentralized exchanges and 10% for future listings on centralized exchanges.
The Shibie Coin team intends to enhance the token's functionality by introducing an AI-driven Telegram bot to engage the community through lighthearted interactions.
Though the path forward may hold uncertainties, SHIBIE's community-oriented tokenomics form a strong base, positioning the token to establish its presence in the sector.
$SHIBIE stands out as a genuine low-cap treasure, with a presale limit of $999,000, despite offering 60% of its total token supply. This lower market capitalization can potentially drive significant price surges, especially given the prevailing positive market outlook.
To kick start the $SHIBIE token's Journey, the team has opted for a time-limited presale stage, granting early investors a chance to engage. However, Shibie's presale has ended. It sold out 3 billion $SHIBIE units and raised $500 thousand at an attractive selling price of $0.000167.
The appealing presale opportunity invited novices and experienced crypto aficionados to join the promising Shibie Coin initiative at an early juncture. To get more information, visit the project's officialwebsite.
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