Shiba Inu Price Prediction 2021 — Will SHIB Hit $.0009 in 2021 to 2022?

This Shiba Inu Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our SHIB price analysis and prediction.

Shiba Inu (SHIB) is one of the most talked-about digital assets in the crypto world lately. This crypto takes the world by storm by skyrocketing its price to over +1700 in the past few months. For this reason, SHIB was able to attract the attention of investors around the world.

Regarding the crypto’s technology, SHIB is an experimental meme token based on the Ethereum blockchain technology. As a result, SHIB must comply with ETH’s rules and restrictions set on its network. On the other hand, SHIB can take advantage of the technology that ETH possesses along with its other crypto partners.

In this SHIB price analysis and price prediction, we take a look at the performance of SHIB if it will reach $100. But before that, let us learn more about what is Shiba Inu (SHIB) and its current position in the crypto market.

What is Shiba Inu (SHIB) Coin?

Shiba Inu is a cryptocurrency meme token mostly known as the Dogecoin Killer. This nickname that SHIB earned is due to its ability to outpace Dogecoin’s value exponentially without crossing the $.01 mark. Truly, this is an aggressive achievement that SHIB should be proud of.

As of today, SHIB is still a new project compared to the other cryptocurrency in the crypto market. However, SHIB continues to develop its technology with its team of developers. In fact, the network is currently working with its other flagship tokens such as $LEASH and $BONES.

Furthermore, SHIB is on its way to developing its own decentralized exchange: ShibaSwap. Once launched, ShibaSwap seeks to provide a safe place for crypto traders to trade valuable cryptocurrencies. 

For now, traders and investors that are interested in SHIB can check the availability of the crypto at different decentralized exchanges. For example, Binance, Huobi Global, and OKEx to name a few.

Shiba Inu (SHIB) Market Position

So far, SHIB is one of the most aggressive digital assets in the crypto market this year. For this reason, the crypto was able to place itself among the top 30 cryptos in CoinGecko. Indeed, this is a good market standing favored by global investors.

In terms of market position, SHIB market capitalization amounts to almost $4 billion as of the time of writing. This whopping amount of market capitalization makes SHIB surpass crypto such as Crypto.com, SafeMoon, and BitTorrent, to name some.

Today, SHIB has a 24-hour trading volume amounting to over $1 billion with a circulating supply of almost 500 trillion.

Now that you already have an idea about what SHIB cryptocurrency is, do you think SHIB is a good investment this year? If you are already excited to know, come, and together let us check this SHIB price analysis and price prediction article.

Shiba Inu Price Analysis 2021

SHIB has just performed a mind-blowing performance in the past few months. For this reason, SHIB began to be the most talked-about digital asset, and its presence was felt all over the crypto world.

Do you think this aggressive performance of crypto is enough to attract more potential investors around the world? Are you already interested to know? Therefore, what are you waiting for? Join me and together, let us see the charts in this CoinQuora price analysis.

As seen in the chart above, SHIB is one of the digital assets that was hit hard by the bearish market. As a result, the price of the crypto suffers a decline rate of almost -90% from it’s all-time-high price of $.000051. With this, we can say that SHIB is not in good shape to attract investors around the world.

However, compared to other altcoins, SHIB has managed to achieve a growth rate of over +600% in the past 30 days. If this trend keeps on, SHIB might have the chance to move away from the bears and break its first resistance level.

This resistance level of the crypto is just +146% away from its current trading position. Yes, this is a price level that SHIB can easily achieve if it continues to perform aggressively.

Let us say that SHIB is able to smash its first resistance level, the gates towards resistance level 2 will open. In this case, SHIB must secure its way of hitting the second resistance level to stabilize its position. Otherwise, the bears might still find a way to drag SHIB back to its support level. 

Of course, if the bears successfully drag the crypto back to its support level which is -85.11% from its current price of $.00000865, SHIB price will crash. As a result, this event can cause FUD among the network’s investors.

On the other hand, the moving average convergence/divergence (MACD) keeps moving above the signal indicator since its bullish crossover. In this case, traders can expect more uptrend performance in the coming days.

However, if the crypto begins to move in a downward direction, traders and investors must trade with caution. This is because of the possibility that the MACD might perform a bearish crossover against the signal indicator. If this happens, investors should practice defensive trading so that they can avoid losing a large amount of funds.

Shiba Inu Price Prediction 2021 to 2022

SHIB is one of the meme coin cryptocurrencies that has successfully rallied its price to the moon in just a couple of months. As a result, the crypto right now is being listed in many different exchanges for easier liquidity procedures.

Would this be enough to make SHIB a profitable crypto in 2021 to 2022? Let us find out in this CoinQuora price prediction 2021 to 2022.

The chart above displays the bullish position of SHIB upon entering the year of 2021. Also, the graph shows the outstanding price boost of SHIB from $.0000000010 in March to $.000039 in May.

This bullish price pump of SHIB recorded a growth rate pump of over 4 million percent. Yes, you heard it right over a 4 million percent price increase, a price boost that could surely attract investors.

However, this bullish escapade of SHIB was stopped by the recent market fall due to a series of unfortunate events. Specifically, the price of SHIB dropped to almost -46% in the past 14 days.

As a result, SHIB now trades at a decent price of $.00000934 below the Fibonacci golden ratio (.618). In this case, SHIB must be able to recover quickly and remove itself from the bearish territory.

Let us say that SHIB successfully pumps its price above the Fibonacci level .618, an uptrend position. In this event, the resistance price of $.00002 is now within reach for SHIB to climb and reclaim.

If it does, the crypto will not have a hard time smashing the skyrocketing price of $.000030 all the way to $.000039. Of course, this will all be possible if the investor keeps its trust in the cryptocurrency.

On the other hand, let us visualize that SHIB already regained its position back at $.000049 and has continued its good marketing approach. The cryptocurrency price might further advance to the extent that it could smash the rocket high price over $.0001. Yes, it may not happen this year but there is a big chance that it could reach that price in 2022.

Above all, SHIB must be able to increase its market cap in order for this bullish price to come to life. Otherwise, this skyhigh price of $.0001 will just be a picture that never comes to life.

 Shiba Inu (SHIB) – RSI

Meanwhile, the relative strength index (RSI) of the crypto is now at level 47.36. In short, the price of SHIB is on a healthy phase, not oversold nor overbought. In this case, traders and investors can trade confidently without worrying about any major price reversals.

Conversely, if the crypto’s RSI breaks either level 70 or 30, the price of the crypto might perform a price reversal. For this reason, traders and investors must invest carefully to avoid any unexpected losses that cannot be reverted back.

Conclusion

With the continued strong marketing approach, we can say that SHIB has a bright future in 2021 to 2023. For this reason, the bullish price prediction of SHIB in 2021 to 2022 is $.000049 up to $.0001. On the other hand, Shiba’s bearish price prediction for 2021 is $.00000112.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Source: https://coinquora.com/shiba-inu-price-prediction-2021/