We can’t wait to tell you more about our latest partnership with the best gaming platform out there. This coin is rising to the top. Check out the report to see how Shibcoin has been performing lately.
November has been a tough month for cryptocurrencies, with Shiba Inu coin and Cardano both suffering poor performance. SHIB coin has been on a downward trend since the start of November.
There is even a possibility of a new long-term upward trend. SHIB is currently trading at $0.00004599, an increase of almost 36% recently after the developers announced a gaming partnership.
Shiba Inu’s future is still uncertain. Some predict that it will continue to grow in value, while others predict that it will fall and stay there for a long time or even decline further.
Tesla CEO Elon Musk Tweets About Shiba Coin. SHIB Price Rises By 800%
Last week, Shiba Inu prices plunged along with global markets, causing SHIB to record an all-time low for November. Despite the price action from this weekend, SHIB dropped to its $0.00003500 low, which could become an interesting point of resistance in the future if the bears maintain control.
SHIB saw its price rise by 800% after the tweet from Tesla CEO Elon Musk in October. The drop was just temporary, as the token’s price rose again afterward.
Due to the volatile nature of the crypto market, prices fluctuate throughout the day and no one can predict what will happen next. In the case of Shiba Inu, most investors are concerned and/or in a state of panic.
The only question every investor was wondering was when the Shiba Inu Coin would rise? So far, our analysts have predicted the meme coin’s rise. In this article, we are going to see what potential growth the meme coin has in the future.
SHIB COIN: Should You Buy SHIB?
Shiba Inu is predicted by Coin Price Forecast to reach US$0.00019059 by the end of 2021 and will reach a mid-range price estimate of $0.00021956 by 2022. However, other experts have predicted different results for the price of this cryptocoin.
SHIB/USDT Price Forecast. Source: Trading View
Shiba’s price has an upper and lower bound, with the former at $0.000068 and the latter at $0.000038. If Shiba is successfully fixed above these bounds, a threefold rise towards an area around $0.00002 will be possible.
Although prices will fluctuate, it’s important to keep your confidence and refrain from selling below the market value. If you do so, when sellers start pushing down prices because they’re not interested in buying, the price will drop to just below $0.00002.
As for another parabolic move, I’m not expecting it now. I expect some minor consolidation between $0.00004800 and $0.00005200, so don’t expect it any time soon.
Additionally, SHIB will continue to rise toward the new prices of around $0.00005750.
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Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
