{"id":367831,"date":"2023-01-05T15:43:28","date_gmt":"2023-01-05T20:43:28","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=367831"},"modified":"2023-01-05T15:47:04","modified_gmt":"2023-01-05T20:47:04","slug":"shib-price-prediction-as-bonk-and-other-meme-coins-take-off","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/shib-price-prediction-as-bonk-and-other-meme-coins-take-off","title":{"rendered":"SHIB Price Prediction as BONK and other Meme Coins Take Off"},"content":{"rendered":"

Over the past few years, meme coins<\/a> have taken off in the crypto markets. While some were initially skeptical of these tokens and labeled them as scams, many managed to produce impressive gains for their holders–while others experienced a severe devaluation of their investments. Shiba Inu (SHIB) is an example of how successful meme coins can be; its growth has astounded investors and it has become one of the most sought-after digital assets today.<\/p>\n

Shiba Inu (SHIB) Price Prediction and Technical Analysis<\/h2>\n

\"shib<\/p>\n

Exponential Moving Average (EMA)<\/h3>\n

Exponential Moving Averages are still in bearish alignment with the SHIB price trading below the medium to long-term 50-day and 100-day EMA. However, the price has recently bounced off the 20-day EMA and has been trading above it today, which indicates that the cryptocurrency may be bullish in the short-term.<\/p>\n

Relative Strength Index (RSI)<\/h3>\n

After falling below the RSI 50 level in November, Shiba Inu’s RSI has been trading sideways. With SHIB’s recent moves, the RSI currently sits at 51.09–above RSI 50 for the first time in almost two months. It’s crucial for the RSI to close today above this significant level to indicate that the trend for SHIB may finally be changing.<\/p>\n

Moving Average Convergence Divergence (MACD)<\/h3>\n

SHIB has entered the new year with a newly formed MACD bullish crossover. As the indicator approaches the zero line, the separation between the MACD and signal line has a healthy histogram with gradually increasing volume.<\/p>\n

SHIB Price Action, Support, and Resistances<\/h3>\n

After trading sideways for the majority of the last week, SHIB’s price broke out of the $0.00000820 resistance yesterday. The price also tested the 50-day EMA area earlier today at $0.00000884 but was immediately met with selling pressure pushing the price down to $$0.00000850 as of writing.<\/p>\n

The immediate price target levels are the 50-day EMA, then the range-high significant level of $0.00000936 to $0.00000947. The immediate supports are the 20-day EMA and the range of $0.00000799 to $0.00000816.<\/p>\n

Shiba Inu (SHIB) Price Prediction Fundamental Analysis<\/h2>\n

The Shibarium Protocol<\/h3>\n

The Shiba Inu project will soon be introducing Shibarium, a Layer-2 scalability platform.<\/p>\n

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Shibarium Update 🧵<\/p>\n

As we approach the launch of the upcoming Shibarium Beta Network, we first would like to start by thanking the Shiba community for bringing such energy and excitement surrounding the upcoming phased introduction.<\/p>\n

1\/6 🧵<\/p>\n

— Shibarium Network (@ShibariumNet) January 4, 2023<\/a><\/p><\/blockquote>\n