Shiba Inu prices will jump again by up to 100 percent in the near future

Lovata Andrean

Shiba Inu Will Soar Again Up To 100 Percent In The Near Future
Shiba Inu Will Soar Again Up To 100 Percent In The Near Future

Rancakmedia.com - Investors predicting that the price of Shiba Inu will soar again by 100 percent in the near future (end of 2021) in crypto assets do not seem to underestimate the popularity of Shiba Inu. This Shiba Inu dog meme coin has recently shown its worth in the cryptocurrency exchange market.

Its popularity has soared in an instant since its introduction some time ago, even increasing substantially in the rankings according to CoinMarketCap statistics.

However, the future potential of this token is still unclear, considering that the voyage and total supply are still relatively large. With the token burning carried out by the Shiba Inu developer, it is also considered that it has not contributed enough to increase the ATH of SHIB.

Not long ago, Shiba Inu has reached its all-time ATH, at a peak that has excited cryptocurrency enthusiasts quite a lot. Plus, more and more exchangers are starting to look for Shiba Inu to join the trading exchange platform.

Of late, Shiba Inu experienced difficulties when the symmetrical triangle broke down, halting the move towards the previous target of $0,00012568. Although the previous few days have produced a 50 percent surge, several indicators have not shown bullishness and have instead neutralized market uncertainty. Shiba Inu Will Surge Again

ADX seems to be showing a weak directional trend as bulls attempt to reverse a key resistance zone. SHIB may remain stuck below the 200 percent Fibonacci Extension until the indicator starts giving good looking readings.

At the time of writing, Shiba Inu is trading at $0,00005785, up about 2,5 percent over the last 24 hours. Based on Shiba Inu's observations of the bullish pattern that occurred in October, the 340 percent breakout target was determined at 0,00012568 USD.

A good upward breakout of the symmetrical triangle created on Shiba Inu's last Sunday in October indicates that the dog is heading towards its previous target.

However, the lower RSI allowed the bears to launch a profitable move as Shiba Inu fell 33 percent after closing at the descending trend line. Currently, the bullish response has been rapid over the previous three days, culminating in a 50 percent increase from the $0,00004317 support.

To extend this rally towards the 3,382 percent Fibonacci Extension, investors need to demonstrate a convincing close above the price of $0,00007638. According to the Visible Range Profile, Shiba Inu's movements show most trading between the 161,8 and 200 percent Fibonacci Extension levels.

To break through barriers, we need a steady flow of transactions. Despite the recent progress, Shiba Inu's 4-hour RSI is still hanging on the midline and showing a neutral signal.

In reality, the MACD indicator is still below equilibrium, and the bullish momentum looks to be fading based on the displayed histogram.

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Lovata Andrean

Hi, I'm Lovata, I'm not Ai but I am a content writer for SEO, Technology, Finance, Travel, Cooking Recipes and others. I hope this can be useful for all my friends. Thanks