bitcoin
Bitcoin (BITCOIN)
$118,795 1.70%
ethereum
Ethereum (ETHEREUM)
$3,244 6.44%
binancecoin
BNB (BINANCECOIN)
$700.07 2.40%
solana
Solana (SOLANA)
$169.69 5.37%
ripple
XRP (RIPPLE)
$2.98 2.79%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000014 5.19%
pepe
Pepe (PEPE)
$0.000013 6.34%
bonk
Bonk (BONK)
$0.000036 22.10%
bitcoin
Bitcoin (BITCOIN)
$118,795 1.70%
ethereum
Ethereum (ETHEREUM)
$3,244 6.44%
binancecoin
BNB (BINANCECOIN)
$700.07 2.40%
solana
Solana (SOLANA)
$169.69 5.37%
ripple
XRP (RIPPLE)
$2.98 2.79%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000014 5.19%
pepe
Pepe (PEPE)
$0.000013 6.34%
bonk
Bonk (BONK)
$0.000036 22.10%
bitcoin
Bitcoin (BITCOIN)
$118,795 1.70%
ethereum
Ethereum (ETHEREUM)
$3,244 6.44%
binancecoin
BNB (BINANCECOIN)
$700.07 2.40%
solana
Solana (SOLANA)
$169.69 5.37%
ripple
XRP (RIPPLE)
$2.98 2.79%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000014 5.19%
pepe
Pepe (PEPE)
$0.000013 6.34%
bonk
Bonk (BONK)
$0.000036 22.10%
Disclosure
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Shiba Inu Price Forecast – SHIB Could Target $0.000015 If Inter-Day Resistance Is Broken

Highlights:

  • SHIB is trending towards the $0.00001394 interday resistance
  • A push through this resistance could trigger a rally to $0.000015 
  • Macro factors such as Ethereum’s price action could push SHIB through resistance 

Shiba Inu (SHIB) is sending bullish signals today after months of relative quiet relative to other meme coins. When writing, Shiba Inu was trading at $0.00001382, up by 6.32% in the day. A surge in trading volumes has also accompanied SHIB’s price increase. 

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In the last 24 hours, Shiba Inu trading volumes have shot up 40% to $348.72 million. This points to rising investor interest in Shiba Inu. As such, the intraday price action could be a precursor to more gains going into the future. Multiple market factors support a SHIB rally in the short to medium term. 

Ethereum Awakens, And It’s A Bullish Signal for SHIB

One of them is Ethereum’s price action. Anytime Ethereum turns bullish, the entire Ethereum ecosystem goes green as well. For context, earlier in the year, when Ethereum remained stagnant while Bitcoin rallied, most Ethereum-based tokens also remained depressed. This is part of why there has been no altseason so far. However, things are changing; Ethereum is starting to send bullish signals, and Ethereum-based tokens are also awakening.

SHIB is one of the most attractive of these tokens. That’s because it is a meme coin, which tends to outperform the market in bull markets. Shiba Inu also trades at a significant discount from its all-time high. This makes it highly attractive to investors seeking a low-cost entry that can deliver parabolic gains as Ethereum edges higher. With predictions that Ethereum could be going a price as high as $10,000 soon, Shiba Inu could experience a price rally that could see it eliminate a zero in the short term. Shiba Inu has done it in the past, after it gained by over 48 million percent in the last bull run. 

Shiba Inu Stands Out In A Crowded Memecoin Market

Besides the Ethereum factor, SHIB stands to gain from the fact that it is a credible meme coin. All meme coins are a gamble, but a significant portion of meme coins are scam tokens. They are designed to extract maximum value from investors, all while posing as get-rich-quick investments. In such a high-risk market, investors will likely pivot towards meme coins that offer a mix of potential parabolic price growth and capital security.

Shiba Inu has been around for years and survived market downturns, which meets this criterion. This may explain why investor interest in it is rising now that altseason appears to be in its early stages. As signals of altseason become clearer, Shiba Inu could experience a surge in investments that could send it to new highs. 

Analysts’ Bullish Outlook Likely to Trigger Shiba Inu FOMO

Analysts are also increasingly bullish on Shiba Inu, which could drive FOMO. For instance, many technical analysts believe Shiba Inu is forming a W recovery pattern on its weekly charts. This pattern could trigger a rally to $0.000034 in the short term. Other analysts believe SHIB is forming a symmetrical trading pattern, which could trigger a breakout. Overall, there is consensus that Shiba Inu could be headed to $0.00003 in the very short term and potentially eliminate a zero in its price.

Technical Analysis – SHIB Trending Towards Critical Resistance

After a correction between July 14 and 15, Shiba Inu found strong support at $0.00001285. Since bouncing off this support level, Shiba Inu has been gaining upside momentum with high volumes.

SHIB
Source: TradingView

However, the SHIB faces strong resistance at $0.00001394 in the short term. If bulls are strong enough to push the price through this resistance, a rally to $0.000015 could follow.

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