The failure of Shiba's price to rise and its performance on the eve of the launch of Shibarium has caused this digital currency to attract the attention of many traders recently.
In this article you read:
1. Shiba price analysis in the short term
2. The dominance of Shiba buyers on the continuation of the upward rally
3. Shiba price flight continues!
4. Check Sheba MACD indicator
According to the data of the Coin Market website, Shiba Inu's cap has increased by 20% since last week and by 35% in the last 30 days. Considering that the launch of Shibarium is likely to increase the use of the Shiba Token and the expansion of the Shiba Ino ecosystem, the possibility that the altcoin will enjoy more stable growth is high.
Shiba's chart and indicators are currently in very good shape, and Meme Token seems to be one of the strongest cryptocurrencies in the market right now.
The reason for all the positive swings is that Shibarium's long-awaited Layer 2 network is about to launch and release itself in the next few days or weeks. At the end of July, the Shiba ecosystem developer team published the exact date of Shibarium's launch and announced that he and his colleagues are "Preparing to launchThis was the platform.
♦️Most importantly, yesterday the developers revealed thatAt least three important contributions have been agreed upon regarding Shibarium, which shows how the Layer 2 network is likely to increase Shiba Inu usage and SHIB adoption.
♦️And in conjunction with the soon to be released Shibacals (NFT-based collectibles) , Shiba Ino could see huge growth in the coming months, especially if the Shiba Ino Metaverse hits the market by the end of the year.
As such, we may see Shiba rise to $0.0000150 in the next few months, before reaching $0.000020 or $0.000030 by December.
Shiba price analysis in the short term
It is possible that the Shibarium launch has already been priced in by the market and has taken its toll, meaning thatFurther growth is likely to be gradual and a direct result of Shiba's adoption and use.
In other words, SHIB may see a gradual advance over the next few months, which may disappoint traders looking for short-term gains.
Now let's examine the short-term prospects of Shiba by analyzing the chart and other indicators.
Shiba support level: $0.000094
Main resistance level: $0.0000106 - $0.000012
The domination of Shiba buyers on the continuation of the upward rally
With the price break of $0.000094, this level has become a support and the buyers have not allowed the price to come back even after breaking this level higher. This shows that bulls are currently the decision makers of the Shiba trend.
The domination of Shiba buyers on the continuation of the upward rally
Shiba price flight continues!
The first major resistance is the bullish rally at $0.0000106. If the price continues to rise, SHIB could target $0.000012 next. Considering the current price, this memecoin has a good chance to reach these levels.
Shiba price flight continues!
Checking the Shiba MACD indicator
The MACD indicator shows that there is no obstacle to the upside move this week as it has consistently reached its highest level since late July. This suggests that Shiba's bullish rally may continue.
Checking the Shiba MACD indicator
Overall, keep an eye on the $0.0000106 resistance as sellers could appear there. If they fail to drop the price significantly, expect buyers to push the price to $0.000012.
