Shiba Inu Price Prediction: Is SHIB Coin Mirroring Wall Street Memes' Rise?

Shiba Inu Price Prediction: Is SHIB Coin Mirroring Wall Street Memes’ Rise?

Updated: 11 August 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

At 6:24 am EST, Shiba Inu is trading at $0.00001, increasing by 2.1% in the last 24 hours. The token’s trading volume is also up, recording a slight increase of 0.56% in the previous 24 hours.

While investors hope for continued progress in the green zone, experts watch the market outlook for any changes.

Shiba Inu Soars On 14-days Bullish Momentum

Over the past seven days and 14 days, there has been an exciting rise in the token’s price by 16.2% and 27.7%, respectively. Also, in the last 30 days, the token recorded significant gains of over 32%, signifying Shiba Inu’s ability to stay above water.

Although there have been slight fluctuations on some days, the factors surrounding the bullish pressure have remained strong enough to maintain stability. One such factor is the Shibarium’s upcoming launch, which is set to transform the outlook of the Shiba Inu project.

Shibarium is an innovative Ethereum layer-2 platform for enhancing the scalability of SHIB tokens within its ecosystem. The platform, set to launch this August, already has potential benefits, acting as a catalyst for more investors.

Other notable updates are upcoming, as tweeted by the Shib community on their official handle, but investors are advised to keep their eyes peeled for more information.

Big things are coming #SHIBARMY 🌠 @ShytoshiKusama provided a discord update yesterday revealing a thrilling secret: we’ve got not one, not two, but THREE incredible partnershibs in the works 🤝 Keep your eyes peeled for more info #PartnershibsIncoming https://t.co/eKKbu5rylJ

— Shib (@Shibtoken) August 10, 2023

Ultimately, these expected partnerships may likely leave a positive mark on the expert analysis of the token in the short or long term.

Technical Analysis of Shiba Inu

The daily chart shows that the SHIB/USD pair trades above the 200-Day and 50–Day Simple Moving Average indicators, indicating bullish sentiment.

This suggests that the coin’s recent price movement is predominantly upward, signaling the presence of bullish momentum. Traders and investors interpret this as a positive sign, anticipating the continuation of the upward trend.

As the price stays above the SMA, it might find technical support around that level, potentially preventing significant downward moves. This can be particularly useful for traders to identify potential entry points for long positions or to manage stop-loss levels.

The MACD indicator is currently positioned above the signal line, indicating positive momentum in the market.

Traders should apply caution as the RSI level stands at 67, suggesting that the coin might be slightly overbought, potentially signaling a slowdown or a minor correction in its upward movement.

However, combining these analyses with other technical indicators and fundamental factors is crucial to obtain a comprehensive view of the coin’s market situation.

Shiba Inu Alternative – Shibie

The Shibie Coin team is moving swiftly to launch the coin, capitalizing on the success of the Barbie movie, which earned $1 billion at the box office.

Shibie Coin’s market cap will stand at $833,000 at launch, making it an enticing option for a potential price increase. The amount raised is relatively tiny compared to most other Web3 presales like $WSM, potentially leading to a rapid sellout.

Tokenomics and Features of Shibie

First, 20% of the $SHIBIE token supply is reserved to provide liquidity on decentralized exchanges (DEXs), ensuring smooth trading conditions immediately. The project also outlines that an additional 10% will be used for the liquidity of centralized exchanges (CEXs).

Building and nurturing this community will require robust marketing efforts, and the tokenomics strategy allocates 20% of the total token supply for marketing purposes.

As a prominent feature of the Shibie ecosystem, the development team is assembling a Shibie bot powered by artificial intelligence (AI) to operate on the widely used Telegram messaging app.

There is also an ongoing PR program for interested investors, and now is the best time to do so before the complete sales.

📣 $shibie has been hard at work arranging a flurry of new PR going out today! If you've been waiting to jump in, now's the perfect time. Act fast, a sell-out is on the horizon! ⏱️🚀 Will $SHIBIE make it to 1 BTC? #crypto

Join the presale now: https://t.co/0vq6u6CXw2 pic.twitter.com/xS1Qhuux1k

— Shibie Coin | Live (@ShibieCoin) August 11, 2023

Shibie Presale Raises Over $300,000 with 72 Days to Go

Based on its new hard cap of $500,000, a 50% reduction from the initial $999,999, the token arguably needs about $200,000 to close presales. While the countdown for the presale stage is around 72 hours, the rate of purchases could propel the final roll call to end sooner.

With a price of $0.000167, there is a strong possibility of this new cryptocurrency experiencing a significant price increase of over 10x. Potential investors can acquire $SHIBIE by connecting their wallets to the official website and purchasing using ETH or BNB.