Shiba Inu (SHIB), one of the biggest meme coins, is experiencing pullbacks with the market downturn. Considering that it has many investors, the next level of the coin is eagerly awaited. Here are the two analysts’ latest predictions for the SHIB price…
Analyst gave technical levels to watch
On Friday, the Shiba Inu fell 3 percent. SHIB closed the day at $0.000001002, reversing a 1.37 percent gain from Thursday. Yesterday, however, it rose to $0.00001058 in the early hours. Falling behind the first major resistance level, SHIB slipped to the morning low of $0.0000099 before finding support, according to analyst Bob Mason. Finding support at the first major support level at $0.0000098, SHIB closed the day at $0.000001002.
On Friday, Bitcoin (BTC) and others fell for the sixth consecutive session, while SHIB saw the red for the third time in six sessions. On the other hand, this week, Coinbase announced that Shiba Inu Coin has been included and supported on the Coinbase Commerce platform. The news came after Crypto.com, which announced earlier in the week that SHIB had been removed from the crypto exchange’s earning program.
The first major resistance level is located at $0.000001040. An extended rally tests the second major resistance level at $0.00001080 and resistance at $0.00001100. The third major resistance level is seen at $0.0000115. The main resistance levels are as follows: 0.0000098, 0.0000095 and 0.0000088 dollars. Meanwhile, the EMAs and the 4-hour candlestick are sending a bearish signal. Finally, a move at the first major resistance level of $0.0000104 might activate the 100-day EMA ($0.00001010).
Other important predictions for SHIB
Despite the recent volatility, the Shiba Inu maintains a strong support level of 0.0095. Still in the green zone. By 2022 forecasts, analyst Martin Coller expects the Shiba Inu to experience further growth in terms of price and adoption. SHIB is expected to reach $0.0001 by the end of 2022. Then attention is drawn to the possibility of a rise to $0.0015 in 2023 and then to $0.0002 again in 2025. However, the token’s ecosystem is still in its early stages.
As we reported on Kriptokoin.com, in 2020 Shiba Inu was created as a meme coin similar to Dogecoin (DOGE). Despite its shortcomings, it is thought to have since evolved into a solid and stable platform. Over time, the network developed a DEX for long-term investors, which allowed it to continue to burn more tokens. Shiba Inu’s upcoming tier 2 solution, Shibarium, is also expected to launch in the third quarter of 2022. The Unification Foundation announced that the beta version of the platform could be released in the third quarter of 2022.
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