Shiba Inu Price Forecast: Has Sell-Off Ended or Not? Is SHIB Showing Signs of Recovery from its June lows?

Updated: 12 July 2023

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Shiba Inu (SHIB) has displayed a promising rebound from its low point in June, leaving investors wondering if the sell-off has finally ended.

After a significant price decline, SHIB has shown signs of recovery, sparking optimism among traders. While it is too early to predict with certainty, the recent upward momentum suggests a potential turnaround for SHIB.

Shiba Inu’s price has barely changed in the past 24 hours, falling 1.65% over the last seven days amid an uncertain market.

SHIB has grown by 16% in the past month but 5% since the beginning of the year, when many significant cryptocurrencies have grown by much more.

Although it’s been inert over the past day, SHIB has gained 0.10% from yesterday’s low, suggesting it’s on the verge of regaining momentum.

As soon as the Shibarium layer-2 network launches, SHIB could have some big rallies.

Shiba Inu is currently trading for $0.000007593 USD, and there’s been $66.330 million traded in the past 24 hours. In the last 24 hours, Shiba Inu’s price has increased by 0.09%.

Shiba Inu Stats:

SHIB price now – $0.000007593
SHIB market cap – $4.48 Billion
SHIB circulating supply – 589.35T SHIB
SHIB total supply – 589.59T SHIB
SHIB Coinmarketcap ranking – 19

Has the Sell-Off Ended Or Not?

In addition to its chart, SHIB’s relative strength index rises after a day or so spent around (or just under) 30, indicating a solid market.

Furthermore, SHIB’s 30-day moving average has flattened out after several days of decline, suggesting an upcoming rebound.

SHIB’s support level has steadily risen following its recent dip, so its position is strengthening again.

In terms of fundamentals, there’s nothing that explains SHIB’s recent recovery, although the cryptocurrency market as a whole has gained 1% so far today.

Alternative Shiba Inu

The DeeLance presale is doing well, like any well-received crypto project. At this point, the project has raised over $1.521 million while selling for $0.043.

DeeLance started an airdrop on Monday to reward users and investors. Take part in the airdrop and get DLANCE tokens worth $7 after completing specific tasks.

In the tweet announcing the airdrop, DeeLance clarified that the reward would go into their wallets. After that, another set of 1000 participants will be picked at random.

Hey DeeLancers Our Airdrop is live!

Participate in our Airdrop and earn $7 in $DLANCE tokens for completing tasks 🔥

Airdrop: https://t.co/ukxdspIf0e

Airdrop rewards will be distributed to your wallet address After TGE & 1000 lucky random participants will be rewarded. pic.twitter.com/wc4cdwP9lB

— DeeLance (@deelance_com) July 10, 2023

DeeLance stays committed to getting its project off the ground. The project was inspired by the need to give freelancers and their employer’s equal security and guarantees.

On the platform, freelancers can also display their work and samples for prospective buyers. Employers can set up their offices in the same marketplace to interview freelancers and hold meetings.

The platform will probably get more use cases, thanks to other projects by DeeLance. Additionally, it’ll make DLANCE’s native token more useful. Keeping the crypto market relevant requires innovative movements like this.

Furthermore, DeeLance is a Web3 project that shows how Web3 will change work and other endeavors in the future. Investors have been flocking to these projects lately.