In this Shiba Inu (SHIB) price prediction 2024, 2025-2030, we will analyze the price patterns of SHIB by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Shiba Inu (SHIB) Current Market Status
What is Shiba Inu (SHIB)
Shiba Inu (SHIB) was launched on the Ethereum blockchain and also resides on the Binance Smart Chain (BSC). This popular memecoin was developed and launched in 2020 by a pseudonymous founder Ryoshi. Shiba Inu exists as a potential contender to the largest memecoin, Dogecoin (DOGE).
The Shiba Inu ecosystem will likely launch its layer-2 blockchain called Shibarium by 2023. In March 2023, Shibarium Beta – named Puppynet – was launched. Alongside SHIB, Bone ShibaSwap (BONE) and Doge Killer (LEASH) are other tokens of the Shiba Inu ecosystem.
Shiba Inu 24H Technicals
(Source: TradingView)
Shiba Inu (SHIB) Price Prediction 2024
Shiba Inu (SHIB) ranks 12th on CoinMarketCap in terms of its market capitalization. The overview of the Shiba Inu price prediction for 2024 is explained below with a daily time frame.
SHIB/USDT Descending Channel Pattern (Source: TradingView)
In the above chart, Shiba Inu (SHIB) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, the price of Shiba Inu (SHIB) was recorded at $0.00001803. If the pattern trend continues, then the price of SHIB might reach the resistance levels of $0.00002917, and $0.00004353. If the trend reverses, then the price of SHIB may fall to the support of $ 0.00001851, and $0.00001446.
Shiba Inu (SHIB) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Shiba Inu (SHIB) in 2024.
SHIB/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Shiba Inu (SHIB) for 2024.SHIB Resistance & Support Levels
Shiba Inu (SHIB) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (SHIB) are shown in the chart below.
SHIB/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Shiba Inu (SHIB) market in 2024.
Shiba Inu (SHIB) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of Shiba Inu (SHIB) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
SHIB/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Shiba Inu (SHIB).
Comparison of SHIB with BTC, ETH
Let us now compare the price movements of Shiba Inu (SHIB) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs SHIB Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of SHIB is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of SHIB also increases or decreases respectively.
Shiba Inu (SHIB) Price Prediction 2025, 2026 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Shiba Inu (SHIB) between 2025, 2026, 2027, 2028, 2029, and 2030.
Conclusion
If Shiba Inu (SHIB) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Shiba Inu (SHIB) price prediction for 2024 is $0.00004981. Comparatively, if unfavorable sentiment is triggered, the bearish Shiba Inu (SHIB) price prediction for 2024 is $0.00000833.
If the market momentum and investors’ sentiment positively elevates, then Shiba Inu (SHIB) might hit $0.0001. Furthermore, with future upgrades and advancements in the Shiba Inu ecosystem, SHIB might surpass its current all-time high (ATH) of $0.00008845, and mark its new ATH.
This content was originally published by our partners at The News Crypto.