SHIB Price Prediction: Reality or Memecoin Hype After DOGE’s Rally?

SHIB Price Prediction: Can It Ride Dogecoin’s 208% Wave?

Memes are booming as a result of Donald Trump’s election as the 47th president of the United States and the resumption of the cryptocurrency boom. The price of Dogecoin, for instance, increased by 208% in just nine days, and the value of numerous other cryptocurrencies based on dogs and cats is also rising. The price of Shiba Inu may be poised for a huge surge in response to this surge in demand.

To put it succinctly, the price of Shiba Inu cannot reach $1. The answer is more complicated, though. Memecoins have grown very popular since the US elections ended and Elon Musk helped create the Department of Government Efficiency (D.O.G.E.). Investors can anticipate that Shiba Inu, a closer DOGE competitor, will follow suit after Dogecoin’s price surged 208% in just nine days.

Shiba Inu Faces Bearish Momentum: Key Levels to Watch

However, given how far the aim is from the present price, it doesn’t seem realistic that SHIB will hit $1. According to Shiba Inu’s price estimate as of November 16, it would require a 3,906,150% gain to reach $1. The price of Shiba Inu is presently fluctuating between the $0.0000211 and $0.0000295 barriers, with the former acting as a level of support. Investors should anticipate a slight drop as the Relative Strength Index (RSI) moves over the overbought level.

The price of SHIB has already dropped 17% over the last five days and is probably going to keep falling. The red histograms that the Awesome Oscillator has generated support a possible increase in bearish momentum and an impending correction. Investors should anticipate that SHIB will return to the $0.0000211 support level if the bearish trend persists. Buyers should gather if there is demand, which would cause a rapid rebound. The next target, $0.0000295, is about 41% away. The price of Shiba Inu may reach $0.0000359 if demand keeps rising and Bitcoin reaches $100k. This move would make up 70% of the total.

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