Shiba Inu Prices Will Return Up To 100 Percent In The Near Future

Rancakmedia.com – Investors predicting the price of shiba inu will increase 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 value on the cryptocurrency exchange market.

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

However, the future potential of this token is still unclear, given the relatively large voyage and total supply. With the burning of tokens carried out by the Shiba Inu developer, it is also considered not enough to contribute to boosting ATH from SHIB.

Not long ago, the Shiba Inu had achieved an all-time ATH, at a peak that has excited quite a few cryptocurrency aficionados. Coupled with that, more and more exchangers are starting to look for Shiba Inu to join the trading exchange platform exchange.

Recently, the Shiba Inu had a hard time when the symmetrical triangle was broken, stopping the move towards the previous target of 0.00012568 dollars. Even though the previous few days had produced a 50 percent surge, several indicators have not shown bullishness and have instead neutralized market uncertainty. 

ADX seems to be showing a weak directional trend as bulls seek to reverse a key resistance zone. SHIB may remain trapped below the 200 percent Fibonacci Extension until indicators start giving readings that look good.

At the time of writing, the Shiba Inu is trading at $0.00005785, up about 2.5 percent over the past 24 hours. Based on Shiba Inu's observation of the bullish pattern that occurred in October, the 340 percent breakout target is set at 0.00012568 USD.

A good upward break of the symmetrical triangle made on the last Sunday of the Shiba Inu in October indicates the dog was headed for an earlier target.

However, a lower RSI allowed the bears to launch profitable moves as the Shiba Inu fell 33 percent after closing at a downtrend line. Currently, the bullish response has been swift over the previous three days, culminating in a 50 percent increase from the $0.00004317 support.

To extend gains towards this 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 movements show most trades 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, the RSI in the 4 hours Shiba Inu still hangs over the midline and displays neutral signals.

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