- Amid increased trading volume and volatility following the FTX collapse, we provide a Shiba Inu price prediction.
- We also profile 3 tokens we believe are worth investing in over SHIB.
Shiba Inu (SHIB) rode the coattails of Dogecoin during the meme coin era and became the second biggest meme project behind DOGE.
It positioned itself in the market as a ‘DOGE Killer’ as investors were looking for the next coin that would provide massive returns after Dogecoin’s incredible rally.
SHIB’s marketing strategy as DOGE’s top alternative resulted in the coin surging during October 2021, but the rally was followed by a rapid crash, with SHIB losing more than 90% of its value.
Currently trading at $0.00000925, Shiba Inu crypto is destined to drop lower before it recovers, according to some analysts. Although SHIB can recover, it may take a while before it provides huge returns again.
Shiba Inu Price Prediction
SHIB has seen increased trading volume in recent days after an immediate sell off in the wake of the FTX collapse and, according to CoinMarketCap, is up 15% in the last 24 hours to $158 million.
The token has seen continued volatility in recent days and has been ranging between $0.0000088 and $0.0000096 in the last week.
If Shiba Inu continues to tend upwards, it will face resistance at $0.0000128 but breaking through that level will mean a possible spike up to $0.000017 – trading volume will need to increase significantly if SHIB is to continue its momentum and reach those levels.
Failing to break through $0.0000128 will seem as if SHIB is bouncing around its range and could head to the bottom of it at $0.0000085.
The good news for SHIB is that it seems it has formed the Wyckoff spring — which makes a panic low below support and then springs back up to its normal trading range. A significant price recovery usually follows the Wyckoff spring.
Our price…
