Will Shiba Inu continue to outpace Dodgecoin’s value in 2022?

This Shiba Inu (SHIB) price prediction 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 is one of the most talked-about digital assets in the crypto world lately. SHIB has attracted the attention of investors around the world. Regarding crypto 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 $0.0002. But before that, let us learn more about what Shiba Inu (SHIB) is and its current position in the crypto market.

What is Shiba Inu Token?

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. 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 digital assets 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 20 cryptos in CoinMarketCap. Indeed, this is a good market standing favored by global investors.

 

In terms of market position, SHIB market capitalization amounts to almost $25,303,599,563  as of the time of writing. Today, SHIB has a 24-hour trading volume amounting to over $3,642,444,649 with a circulating supply of almost 549,095.51B SHIB

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 (SHIB) Price Analysis

Currently, SHIB holds 11th place on CoinMarketCap. But will the latest upgrades, developments, and changes in the SHIB blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this SHIB price prediction article.

In the hourly time frame chart shown above, we can see the Symmetrical Triangle Pattern. This pattern shows the period of consolidation that may lead to a price breakdown or breakout. In the foreseeable future, we can say that SHIB has a higher chance of going bullish than bearish.

The Relative Strength Index (RSI) is at 48.30, which means that SHIB is in a neither overbought nor oversold state. This may lead to a price reversal at any given time. Therefore, traders must trade crypto wisely and should not be affected by the market hype. Keeping all this in mind, traders can move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of SHIB.

Since the start of 2021, SHIB’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, SHIB has a competitive market this 2021.

Shiba Inu (SHIB) Price Prediction

The chart below shows that SHIB has performed great over the past few days. However, the SHIB price shows a bullish signal. If this trend continues, SHIB might run along with the bulls, breaking its $0.00013 resistance level and going higher.

Conversely, if the investors do not favor crypto, the bears might take over and pull SHIB from its uptrend position. In simpler terms, the price of SHIB might decrease to almost $0.000028, a bearish signal.

Meanwhile, our long-term SHIB price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $0.000088 this year. Moreover, SHIB can hit ATH only if it breaks many previous psychological resistances.

Shiba Inu (SHIB) Price Prediction 2022

If this bullish trend continues, SHIB will reach $0.0002 by the end of 2022. Moreover, the first half of 2022 is going to show rapid growth, up to $0.00025. Then the rise will slow down, but no major falls are expected. With upcoming partnerships, and developments reaching $0.0001 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Shiba Inu (SHIB) Price Prediction 2023

If SHIB holds the support level around 200-MA which is the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $0.0005, making it not plummet but play consistently.

 

Shiba Inu (SHIB) Price Prediction 2024

As per the latest upgrades, developments, SHIB price prediction, and new project forecasts of the platform, SHIB investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of SHIB in the crypto market, and it will be the best investment as the price can spike and reach around $0.0075.

Shiba Inu (SHIB) Price Prediction 2025

In the next four years, SHIB prices could race up to $0.0095. However, reaching this level could not be so difficult for SHIB as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that SHIB has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

SHIB has a bright future ahead of it in 2021. With the ongoing developments happening within the SHIB ecosystem, as well as in the overall crypto market, we may see SHIB reach new heights.

Bullish SHIB price prediction 2021 is $0.00006. As said above, it may even reach $0.00009 if investors have decided that SHIB is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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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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