Recent developments have sparked interest in Shiba Coin as its price ascends, leading to optimistic forecasts regarding a return to earlier peaks. A notable projection estimates that SHIB could rise to $0.000081.
What Are the Current SHIB Price Trends?
The current value of SHIB stands at $0.00001897, marking a 4% rise within the last day alone. This surge follows Bitcoin‘s impressive climb toward its all-time highs and builds on last week’s 5.7% increase. Will SHIB be able to hit $0.000081?
How Do Bitcoin and the Elections Affect SHIB?
According to Oscar Ramos, various elements increase Shiba Inu’s prospects of regaining its former highs, particularly its correlation with Bitcoin, which currently sits at 83%. As Bitcoin continues to rise, SHIB’s price is likely to follow suit.
Key insights regarding SHIB’s potential performance include:
- The significant positive impact of Bitcoin’s trajectory on SHIB prices.
- Three resistance levels SHIB must surpass to achieve $0.000081: $0.000033, $0.000046, and $0.000071.
- The formation of a symmetrical triangle pattern, suggesting ongoing bullish momentum.
In addition, the ongoing election campaigns may influence market dynamics. Predictions from Polymarket indicate that Donald Trump has a strong chance of winning, potentially fostering a favorable climate for cryptocurrencies, despite current polls positioning him behind.
With short-term forecasts remaining optimistic, the 33% surge in trading volume over 24 hours indicates that bullish momentum persists in the market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
