As a seasoned analyst with over two decades of experience in the dynamic world of finance and cryptocurrencies, I have seen numerous trends come and go. The rise of Shiba Inu, or SHIB, is an intriguing development that catches my attention.
Over the past two days, the value of the dog-related digital currency, Shiba Inu, has gradually increased, reaching a test of approximately 0.000033 in today’s trading activities.
Significantly, tokens within the Shiba Inu ecosystem – Bone ShibaSwap (BONE) and Doge Killer (LEASH) – have shown significant growth over the past day. Specifically, BONE has risen by 7% compared to the previous day and an additional 12% over the last week, while LEASH has increased by 3% daily and 5% weekly. Notably, Shiba Inu itself saw a daily surge of up to 7%.
On Friday, after a substantial drop in trading on Thursday, Shiba Inu began to recover from a low of $0.0000293. The overall positive mood in the cryptocurrency market has been advantageous for meme coins like SHIB.
Over the past three days, Bitcoin has held steady just below the $100,000 level, causing investment to shift towards other cryptocurrencies called altcoins. Meanwhile, according to Santiment, there have been a series of smaller breakouts among meme coins over the weekend.
On the weekends, Shiba Inu joined the optimistic trend in the market and continued its recovery, reaching a significant point at around $0.000033.
The important level of $0.000033 has been highlighted since SHIB’s progress halted there on both the 1st and 4th of December. This level now serves as a crucial barrier for traders and investors to watch closely, as it may impact further price movements.
Currently, Shiba Inu (SHIB) has experienced a slight relief, rising by 2.76% over the past 24 hours to reach $0.0000318. Over the last week, it has increased by 4.66%.
Simultaneously, a sense of hopefulness is growing within the Shiba Inu community as they eagerly anticipate upcoming advancements. Notably, Shiba Inu developer Kaal Dhairya has hinted at ongoing work to incorporate Zama’s cutting-edge fhEVM coprocessor into Shibarium. This integration could open up opportunities for confidential and verifiable on-chain interactions.
What’s next for SHIB price?
The Shiba Inu token has twice been unable to cross the $0.000033 mark, establishing a temporary resistance point. If Shiba Inu is to maintain its upward momentum, it needs to convincingly exceed and consistently stay above this price point.
If a breakthrough occurs, it could set the stage for more advancements. Conversely, if there’s no breakthrough, we might see either consolidation or a temporary pullback.
As a researcher, I’ve been closely observing the trends in SHIB. If it manages to break through its current level with substantial trading volume, this could be an early indication of a larger rally ahead. Potential targets for this surge might reach $0.000035 and then extend to $0.000039.
From my perspective as an analyst, not overcoming this resistance could potentially lead to a short-term dip. The price levels of $0.000030 and $0.000029 might serve as crucial support points that I would recommend keeping an eye on during this period.
Read More
- FIS PREDICTION. FIS cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- Tips For Running A Gothic Horror Campaign In D&D
- EUR CAD PREDICTION
- XRP PREDICTION. XRP cryptocurrency
- Luma Island: All Mountain Offering Crystal Locations
- DCU: Who is Jason Momoa’s Lobo?
- OSRS: Best Tasks to Block
- EUR ARS PREDICTION
- INR RUB PREDICTION
2024-12-08 13:50