Here’s Why Shiba Inu Price is About to Start Parabolic Phase

by

As a seasoned researcher with over two decades of experience in the financial markets, I have seen trends come and go, from dot-com bubbles to cryptocurrency mania. The recent surge in Shiba Inu’s price has piqued my interest, reminding me of the thrilling ride that meme coins can provide.

Over the last week, the price of Shiba Inu (SHIB), a well-known meme-inspired cryptocurrency, has experienced a significant 27% rise in value. This surge is indicative of increasing investor enthusiasm, driven by positive market developments and strong signs pointing towards continued growth. Although temporary setbacks affecting the overall crypto market have occurred, SHIB has proven to be a notable exception, excelling among meme coins. Experts believe this upward trend could initiate a parabolic phase, sparking increased curiosity among traders and long-term investors alike.

Shiba Inu Price Approaching Parabolic Phase

A well-known cryptocurrency analyst has ignited enthusiasm among Shiba Inu investors by identifying possible indications of another dramatic price surge, similar to the parabolic rise seen in the past. As suggested in a recent article, Shiba Inu appears to be replicating previous market trends, which could lead it into a profitable “parabolic phase.

An expert has demonstrated a consistent pattern featuring an early spike, followed by a slowdown, and then a sharp increase during what’s called the “parabolic rise.” If previous trends hold true, Shiba Inu (SHIB) might be on track for significant growth similar to past market surges.

An analyst advised their audience to get ready for possible profits, highlighting indications of an initial surge and a recent downtrend. This suggestion has ignited excitement among Shiba Inu (SHIB) supporters, who are curious if this upward trend will surpass or equal its past price highs.

$SHIB is repeating history, and you know what that means…

The parabolic phase is coming!

Are you ready for some gains?
#SHIB #Crypto

— SHIB Bezos (@BezosCrypto) November 14, 2024

Shiba Inu Price Cools Off After Recent Surge

Following a notable rise in the market over the past month, the meme coin has seen a minor drop recently. As of this update, the price of SHIB stands at $0.00002416, which represents a decrease of 5.10% within the last day.

By this past Friday, Bitcoin‘s value had fallen to approximately $87,000, whereas Ethereum just barely hovered above the $3,000 level. The overall cryptocurrency market shows signs of both optimistic and pessimistic trends, resulting in a trading pattern that moves sideways rather than up or down.

Will SHIB Price Rally To $0.00003 In November?

The predicted path for Shiba Inu’s price is at a crucial juncture, with downward trends potentially undermining support around $0.000024. If the bearish trend continues, the price could drop to $0.00001. However, if bullish sentiment strengthens, it may propel the price upwards to $0.000025 or potentially soar higher to $0.00003 by November, provided there’s a substantial increase in buying activity.

On the 4-hour SHIB chart, the technical indicators suggest a somewhat ambiguous forecast for the cryptocurrency. The Average Directional Index (ADX) is at 20.51, implying a feeble trend because values below 25 usually point to reduced directional power. Moreover, the Moving Average Convergence Divergence (MACD) hints at possible bearish movement. Here, the MACD line is positioned slightly beneath the signal line, and the histogram shows red bars, signifying that a potentially negative sentiment could be dominating the market.

The cost of Shiba Inu seems to indicate a possible period of rapid growth, known as a parabolic phase. Maintaining crucial support levels is essential for maintaining the positive trend. Current signs suggest exercising caution, but increased demand could spark a powerful surge, potentially making November pivotal in determining Shiba Inu’s direction.

Read More

2024-11-15 17:25