After Bitcoin surged past $50,000, the crypto world turned bullish, benefiting many cryptocurrencies. Shiba Inu (SHIB), the second-biggest dog-themed token, also joined the rally. Currently, it’s trading around $0.00000996, showing a 1.2% increase in the last 24 hours, as per CoinGecko.
Shiba Inu (SHIB) has seen increases of about 6.6% in the past week and 10.1% in the last 14 days, according to data from a crypto asset price tracking site. This suggests SHIB is nearing the $0.00001 resistance level, a price it last reached on January 11. Stay tuned for insights from top experts on when we can expect SHIB to reach this level again.
Shiba Inu (SHIB) Price Predictions from Coincodex and Changelly
The machine learning algorithm used at Coincodex predicts that SHIB will surpass $0.00001 in February. However, it’s anticipated that SHIB won’t maintain this price level for long, with a decline expected in less than 48 hours after reaching it.
Coincodex indicates a bullish sentiment surrounding SHIB. Additionally, the “Fear & Greed Index” reflects “greed” among investors regarding Shiba Inu.
Changelly, a prominent crypto price forecast platform, echoes Coincodex’s outlook. It forecasts that SHIB will reach $0.00001 on February 21, only to drop below this level again within a day.
Bullish Price Trajectory for Shiba Inu (SHIB) by SHIB Knight
SHIB Knight, a respected crypto analyst, has recently outlined an optimistic price trajectory for Shiba Inu (SHIB). Noting favorable market conditions, the analyst observed that SHIB broke the downtrend on the weekly chart, indicating positive momentum.
SHIB Knight highlighted four price targets positioned above the $0.00001 mark, suggesting potential upward movement. Additionally, two support levels were identified below this threshold, offering potential buffers against price declines.
With these insights in mind, the market eagerly awaits further developments to see how SHIB’s price trajectory unfolds in the coming days and weeks.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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