Price Predictions

Shiba Inu Price Prediction: Why SHIB May Plunge by More than 12% This Month!

Key Takeaways: 

  • The Shiba Inu (SHIB) price closed the previous day’s trade at $0.00000842 with a market capitalization of $4.62 billion and a circulating supply of 549,063.28 billion.
  • The SHIB price has been trading with extreme bearish pressure since the start of the monthly trade, indicating the possibility of a bearish close. 

Shiba Inu (SHIB) PRICE & Technical ANALYSIS 

Current Price $0.000008533
SHIB Price Prediction for Today $0.000008835
Volatility  12.99%
50-Day SMA $0.00001053
14 Day RSI 35.69
Sentiment Bearish
Fear and Greed Index 22 (Extreme Fear)
Green Days 13/30(43%)
200-Day SMA $0.00001139

Shiba Inu Technical Analysis for the Month

Source: Tradingview

  • Shiba Inu price has been largely bearish since the beginning of the month, but it is now on the verge of exhibiting a short-term bounce.
  • The price is trading within a falling wedge on the 4-hour chart, which is considered bullish and propels the price higher as it reaches the peak of the consolidation.
  • With a rebound, the SHIB price is expected to rise, but it could be limited at $0.000000955 and rejected.
  • If the bulls maintain their significant strength, a healthy upswing may occur after a brief consolidation; otherwise, bearish market sentiments may drag the price lower to $0.00000749.

Read more: Shiba INU Technical Analysis

Shiba Ine Technical Analysis at a Glance

Shiba Inu price plummeted following a 100x rally in 2021. Meanwhile, each attempt at a firm rebound has resulted in a new sell-off, indicating that market participants are unsure about the upcoming trend. As a result, the SHIB price is compelled to remain in bearish captivity for an extended period of time. 

The price is expected to remain bearish until the end of 2022, when it may begin a significant upswing as bearish sentiments fade.  

Short-Term(4hr)

The price has reached the interim support levels and is attempting to rise high, but it may face a minor rejection before continuing to rise high.

Mid-Term(1D) The SHIB price is looking for a bullish push to spark a rebound and keep the token from testing the lower support.
Long-Term(1W) The Shiba Inu price may fall to the last line of defense near $0.0000055 before rebounding in the coming week.

Will SHIB Price Reach $0.000009 Today?

The SHIB price has largely reminded within a steep bearish trend since the recent rejection at $0.0000092. The price fell by nearly 10% during the previous trading day, which was followed by an additional 3% drop since the opening bell. In the meantime, the price is attempting to hold above the critical support levels of $0.00000820.

In the short term, the price appears to be slightly bullish, suggesting that a significant increase is possible. Meanwhile, daily volume has been reduced, potentially impeding price growth. As a result, a minor upswing may be on the way, followed by a significant rejection. As a result, the Shiba INU price prediction for today could range between $0.0000081 and $0.0000086. 

Will SHIB Price Reach $0.000011 by the End of the Month?

Shiba INU price experienced a spectacular rally just before the start of the monthly trade. Meanwhile, following a brief consolidation, the price lost pivotal support, and the FTX collapse dragged the SHIB price to new lows. However, technical indicators point to a minor upswing, but market sentiment remains extremely bearish. 

As a result, the possibility of the SHIB price testing the lower support near $0.00000750 or lower emerges. Meanwhile, the next rebound may be contingent on buying volume, which is unlikely given current market conditions. As a result, the downward trend is likely to continue for some time, with the Shiba INU price forecast for the week hovering around $0.00000770 and $0.0000065 for the month.   

Shiba INU Price Prediction: Price Trend Comparison with Ethereum(ETH)

Source: Tradingview

  • Shiba Inu was built on Ethereum as the main competitor to Dogecoin, which is based on the Bitcoin blockchain.  
  • As a result, the popular token followed the same pattern as Ethereum, the second-largest crypto by market capitalization.
  • While the SHIB price reached highs of around +24%, the Ethereum price rose to close to +36%.
  • However, the assets fell precipitously to bottom out at around -15% to -16% and continue to trade in bearish captivity.

Shiba Inu Price Prediction: 2022, 2023, 2024, 2025

Shiba Inu has been in a bearish range since the beginning and may continue to be so until the end of 2022. When the descending trend reaches its apex, the bulls are expected to take over the rally and quickly raise the price. In the coming years, the SHIB price may resume with a sharp upswing, reclaiming lost levels in 2023 and beyond. 

Year SHIB Price Forecast
2022 $0.00000782 to $0.00000989
2023 $0.00001911 to $0.000025
2024 $0.000055 to $0.000061
2025 $0.000069 to $0.000073

Shiba Inu News Today

  • Recently, Google cloud partnered with Coinbase to accept crypto payments and SHIB is being included in the list

  • The most awaited Shiba Eternity game went live worldwide and is available on Android & IOS devices

Prices as on 23 November, 2022.

Read more: Top Conversations on Crypto Twitter

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