Shiba Inu Price Could Touch $1—Here’s How and Why
The post Shiba Inu Price Could Touch $1—Here’s How and Why appeared on BitcoinEthereumNews.com.
Shiba Inu (SHIB) has been a staple in the meme cryptocurrency space, attracting a large community and gaining speculative interest. As of January 2025, Shiba Inu shows potential signs of bullish momentum, fueled by technical indicators, market sentiment, and ecosystem developments. Could Shiba Inu realistically reach $1? While this goal requires significant market changes, here’s an analytical breakdown based on the provided chart and other market factors. How has the Shiba Inu Price Moved Recently? Shiba Inu (SHIB) is currently priced at $0.00002408, with a 24-hour trading volume of $631.78M, a market capitalization of $14.19B, and a market dominance of 0.39%. Over the past 24 hours, SHIB’s price has increased by 1.04%. The token achieved its all-time high of $0.00008819 on October 28, 2021, while its all-time low of $0.0000000005637 was recorded on November 28, 2020. Since its peak, SHIB’s lowest price was $0.000005821 (cycle low), and the highest price since that low was $0.00004501 (cycle high). The current sentiment for Shiba Inu’s price prediction is neutral, with the Fear & Greed Index indicating Extreme Greed (78). Shiba Inu’s circulating supply stands at 589.26 trillion SHIB, out of a maximum supply of 589.74 trillion SHIB. The yearly supply inflation rate is -0.01%, reflecting a reduction of 44.79 billion SHIB over the past year. Shiba Inu Price Prediction: Current Technical Analysis SHIB/USD Daily Chart- TradingView 1. Moving Averages and Trends Short-term Bullish Momentum: The recent “Buy” signal aligns with a breakout above the 20-day EMA (Exponential Moving Average), suggesting an early bullish trend. The 50-day SMA (Simple Moving Average) is turning flat, and if SHIB continues its upward movement, a golden cross (50-day SMA crossing the 200-day SMA) could occur, signaling strong bullish sentiment. 200-Day SMA Support: The long-term 200-day SMA acts as a robust support level near the $0.00001908 price…
Filed under: News - @ January 7, 2025 11:20 am