The market is moving sideways, so a bit of chop and ups and downs will be an added spice to many aspiring coins. And how can the Dogecoin killer remain untouched? With a cold Shibarium launch, Shiba Inu’s price is again back to square, struggling to break key resistance levels. Even the on-chain metrics showed a downtrend.
All because giant whales are accumulating more SHIB, resulting in low volatility, making a hold at short positions. From here onwards, achieving $0.0001 would require Shiba Inu to surpass its all-time high of $0.00008845, set in October 2021. Despite being significantly down from its peak, there is hope for a recovery, though the timeline remains uncertain.
Uptober will be a month of price boosts with impending activities lined up. The market outlook is volatile, with anticipation for improved sentiments pending the Bitcoin ETF decision in October.
Also Read : Shiba Inu Price Prediction 2023 – 2025: Will Shiba Inu Boost in 2023?
Shiba Inu coin Price Prediction
Giving slow and believable targets, Telegaon’s report, predicts that Shiba Inu’s price could reach $0.0001 by 2027, signifying a remarkable 1,231% surge in value over four years. Telegaon’s projections go even further, envisioning an average price of $0.000153 for SHIB in 2027. But getting deep into the platforms, it anticipates a minimum price range of $0.0000945 and a maximum of $0.000198 for the same year.
Looking ahead, Telegaon’s projections for SHIB’s performance extend until 2050, suggesting a continual upward trajectory. Notably, they foresee Shiba Inu reaching $1 by 2050. As of now, SHIB is trading at $0.00000751, reflecting a 3.16% increase over the last 24 hours, though it has faced challenges in maintaining levels above $0.000008, resulting in a 7% decline for the year.
What’s Next For SHIB Price?
In the last 24 hours, SHIB has seen a surge in buying activity, breaking above the bearish channel pattern and surpassing the EMA100 trend line, currently trading at $0.0000076, up over 5% from yesterday. Sellers, however, are putting up resistance near EMA200. Despite attempts, bears struggle to push the price below the robust support level at $0.000007, indicating active bulls are willing to buy during dips.
Hence, a minor downward correction is expected due to RSI levels entering the overbought region. If bulls push the price above EMA200, it could signal a sustained recovery targeting levels of $0.0000084 and potentially $0.0000088. Conversely, a breach of $0.000007 may lead to a potential decline towards $0.000006.
However, Telegoan’s projections are not investment advice yet they speak a lot about SHIB’s projected moves in the coming weeks. Will Spot ETF’s craze going to suppress SHIB’s price? Only time will tell.