Will the Shiba Inu go against the tide and achieve a new height?
After maintaining a strong support level for a while, the Shiba Inu cryptocurrency may reach $0 USD soon, as despite the continuous bearishness in the cryptocurrency market, SHIB price has ignited a noticeable upward trend that will give an advantage to the Dogecoin killer in the coming days.
Shiba Inu found a resistance level at $0.0000227, which helped the cryptocurrency choose an upward trajectory, and Shiba Inu emerged as the biggest winner of 2021, starting the year at $0.0000000000073 and ending at $0.0000033, registering an astonishing growth of 45,000,000%.
After hitting an all-time high in October, Shib's price dropped by 63%, and although SHIB lost its spot in the top 10 cryptocurrency list to Dogecoin, the Shib Army still believed in the coin.
Fortunately, investors who have held on to the Shiba Inu are seeing a race to climb the light at the end of the tunnel, and the coin is expected to touch the current inversion from the point of resistance, an opposing triangle, where it may face rejection, however, expectations are that SHIB could easily pass through The rejection is working fine for the next few months.
Shiba Inu Price Analysis
According to FXStreet, Shiba price set up three swing lows around a vital support level, this caused a trend reversal, which could eventually lead to an uptrend, even when the entire cryptocurrency market was very bleak and the best cryptocurrency faced back-to-back success, SHIB managed to Recording a 75% growth in the past two months.
Finally, it turned its resistance level into a support formation, creating a triple bottom, this reversal pattern will make Shiba Inu price jump massively higher.
Now, where is the price of the Shiba Inu headed this time?
According to the charts, SHIB is likely to reach $0.0000283 this time, which is a temporary rally for the coin, but much of its growth depends heavily on the SHIB army and new investors, if the expected upward trend triggers FOMO again, the price will reach $0.0000326 In a matter of weeks, in short, SHIB investors can expect growth of at least 50% right now.
What factors can lead to further growth of SHIB?
When it comes to Shiba Inu, a number of factors including adoption, ease of use, rising prices, etc. contribute to its growth, as Ethereum previously gained popularity due to its features that enable cryptocurrency investors to use it on a daily basis to trade and buy things.
Similarly, further listing on cryptocurrency exchanges and inclusion on top platforms like Robinhood could make SHIB very competitive. In May 2021, Shiba's price soared after adding the cryptocurrency to Binance and OkEx, which eventually led to its listing on Coinbase Global.
Unlike other cryptocurrencies, Shiba Inu's growth is largely dependent on the so-called "whales." According to the report, 70% of the Shiba Inu was owned by eight whales as of October 2021, which represents 41% of the circulating supply, so any movement In these wallet addresses will greatly affect the price of Shiba, in addition, more companies are applying to accept Shiba Inu as a method of payment.