{"id":580580,"date":"2024-09-27T08:23:15","date_gmt":"2024-09-27T08:23:15","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=580580"},"modified":"2024-09-27T08:23:15","modified_gmt":"2024-09-27T08:23:15","slug":"shiba-inu-price-prediction-shib-extends-weekly-gain-with-a-23-pump-but-experts-say-consider-this-meme-coin-rival-for-explosive-gains","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/shiba-inu-price-prediction-shib-extends-weekly-gain-with-a-23-pump-but-experts-say-consider-this-meme-coin-rival-for-explosive-gains","title":{"rendered":"Shiba Inu Price Prediction: SHIB Extends Weekly Gain With A 23% Pump, But Experts Say Consider This Meme Coin Rival For Explosive Gains"},"content":{"rendered":"
The Shiba Inu price <\/span>surged<\/span><\/a> over 23% in the last 24 hours to trade at $0.00001907 as of 11:40 p.m. EST as investors rush to buy the meme coin.<\/span><\/p>\n Following the recent gain, the SHIB price is now up more than 34% on the weekly time frame and has risen more than 38% over the last 30 days.<\/span><\/p>\n <\/p>\n 4-hour chart for SHIB\/USD (Source: <\/span>GeckoTerminal<\/span><\/a>)<\/span><\/p>\n The <\/span>Shiba Inu<\/span><\/a> price soared above the major resistance level at $0.00001674, and is attempting to flip the next technical barrier at $0.00001951 into support. However, sellers seem to be exerting a lot of pressure on the meme coin’s price. This is evident by the wick present above the latest 4-hour candles.<\/span><\/p>\n Should bulls manage to overpower their bearish counterparts, SHIB could end up rising beyond the $0.00001939 mark and climb to the subsequent resistance at $0.00002210 in the following 24 hours.<\/span><\/p>\n On the other hand, the Shiba Inu price failing to cross $0.00001951 within the next 12 hours could stop the dog-themed token in its tracks and bring an end to its bullish phase. In this alternative scenario, some traders might start to realize their profits before the rest of the market adjusts. This potential sell pressure could result in SHIB retracing to $0.00001674.<\/span><\/p>\n In an extremely bearish case, the Shiba Inu price might end up losing the support of the recently-breached $0.00001674 mark. This could spook investors, causing them to dump the <\/span>meme coin<\/span><\/a>. SHIB might then plunge to as low as $0.00001516.<\/span><\/p>\n From a technical standpoint, indicators on SHIB’s 4-hour chart warn that the altcoin’s positive trend might have reached a climax. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators show signs that buying activity has stalled.<\/span><\/p>\n After climbing from the low 60s to the high 80s, RSI readings have leveled off in the last 24 hours. Although the high RSI values signal the presence of bullish strength, they also warn that SHIB is currently overbought. Traders generally see this as a sell signal, because high RSI readings suggest a crypto’s downside potential is greater than its upside potential.<\/span><\/p>\n MACD Histogram values have also stopped increasing, indicating that the gap between the MACD and MACD Signal lines has stopped growing. This could be an early sign of an upcoming reversal of SHIB’s bullish trend.<\/span><\/p>\nThe Shiba Inu Price About To Challenge The $0.00001951 Resistance<\/span><\/h2>\n
Technicals Warn The Shiba Inu Price Has Reached A Short-Term Peak<\/span><\/h2>\n