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Home»ALTCOIN NEWS»Shiba Inu Price Prediction: Why a 40% Increase Could Be Closer Than You Think
ALTCOIN NEWS

Shiba Inu Price Prediction: Why a 40% Increase Could Be Closer Than You Think

By Crypto FlexsNovember 7, 20242 Mins Read
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Shiba Inu Price Prediction: Why a 40% Increase Could Be Closer Than You Think
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  • Shiba Inu has a bullish structure, but remains below the 5-month resistance line.
  • Daily RSI also showed upward momentum.

Shiba Inu (SHIB) was trapped below the resistance zone in the $0.0000205 area. Based on previous analysis, Shiba Inu maintained a bullish outlook after breaking a descending wedge pattern.

Buying pressure on SHIB is slowly increasing. A break above the highlighted 5-month resistance would indicate a strong bullish move.

Shiba Inu price prediction, will it rise by at least 40% in the future?

SHIB 1 day chart

Source: SHIB/USDT on TradingView

In late February and early March, Shiba Inu prices rose 389% in 10 days. Since then, steady selling pressure and bearish market sentiment across the summer have led meme coins to a prolonged downtrend.

As it stands, the $0.0000155 area has been the support zone since mid-September. The market structure on the daily chart remains bullish, with OBV hitting higher lows over the past five weeks.

This showed that buyer power was growing, but it was not a sign that a breakout would occur immediately. The mighty Dogecoin (DOGE) may move and meme-related news may cause SHIB to break above $0.0000205.

Self-zone overhead suggests that retesting is likely.

Shiba Inu Cheongsan Heat MapShiba Inu Cheongsan Heat Map

Source: Coinglass

AMBCrypto found that the 1-month transition period liquidation heatmap has a liquidity cluster around $0.00002, reaching a maximum of $0.0000207. The token’s proximity to the market price means that our short-term Shiba Inu short-term price predictions are optimistic.


Is your portfolio green? Check out our Shiba Inu Profit Calculator


A clearing of this liquidity cluster is likely to occur soon, but it is yet to be seen whether this will lead to a breakthrough. It will require greater purchase volume and a shift in sentiment.

Traders should be wary of the explosive profits that occurred earlier this year in February. Above $0.0000205, the $0.0000295 level is the next target, 40% higher.

Disclaimer: The information presented does not constitute financial, investment, trading, or any other type of advice and is solely the opinion of the author.

Next: Coinbase Shares Soar Amid Crypto Rising: What’s Driving the Rise?

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