SHIB Gains 5% ; Can It Reach $0.000020 Next Week?

Investors have flocked to the Shiba Inu (SHIB) cryptocurrency in the past 24 hours, riding the crypto market's upward trend. SHIB was at $0.00001778 at press time, up 3.66% from its previous close.

The weekly chart shows a 4.67% increase despite volatility. After this market optimism, SHIB's market value climbed to $10.47 billion, ranking 13th in crypto rankings.


This bullish pricing movement follows a WazirX attack in India. In a post on X, on-chain analyst Lookonchain revealed that $230 million in assets were taken, including 5.43 trillion SHIB tokens worth $102 million.

Despite this calamity projected to impair SHIB's reputation, the asset remains robust and rising. This shows investor confidence and community support for SHIB to overcome any challenge.

However, its 24-hour trading volume fell 54.52% to $473.09 million, suggesting a drop in short-term trading.

Next for SHIB?
SHIB hit $0.000017 last Saturday and is at $0.000017 now. If this support holds, market analysts expect the SHIB token to rise 14.19% to $0.000020 by next week.

SHIB went above $0.000017 last Saturday. SHIB/USD 1-Day Chart TradingView (Source)
As CryptonewsZ forecasted, a break over this mark might lead to a big rise toward $0.000026. The 20-day Simple Moving Average (SMA) below SHIB's price provides significant support for current bullish trend.

RSI is also rising in an upward channel, signaling a market buying binge. The RSI is 49.34, suggesting SHIB might break $0.000020.

SHIB may attempt $0.0000147 support if bears retake control, causing a price decline.

#BinanceTournament #SHIB $SHIB #Memecoins