Can Shiba Inu (SHIB) Reach $1 Following DOGE's 200% Rally?
DOGE's Influence: Dogecoin’s impressive 208% rally in just nine days has reignited interest in meme coins, putting Shiba Inu in the spotlight for a potential surge.
Technical Analysis: SHIB is currently trading between $0.0000211 and $0.0000295. With RSI showing overbought levels, a correction seems likely.
Price Targets: If support holds at $0.0000211, SHIB could target $0.0000295 (a 41% rise) or even $0.0000359 (a 70% rise). However, a drop below $0.0000211 might lead to a 25% correction to $0.0000158.
Will SHIB Hit $1?
Reaching $1 is highly improbable. Based on its current price, SHIB would need to rally by an astronomical 3,906,150%. Despite its potential for short-term gains, achieving such a massive increase under current market conditions is unrealistic.
Technical Overview:
Support and Resistance: SHIB faces immediate support at $0.0000211, with resistance at $0.0000295.
Indicators: RSI suggests a potential correction, and the Awesome Oscillator indicates bearish momentum.
Conclusion:
While SHIB could see short-term growth fueled by meme coin hype, the $1 milestone remains out of reach. Investors are advised to monitor key support and resistance levels and conduct thorough research before investing.
❤️LIKE 🫂FOLLOW 🗳REQUOTE OR RESHARE
⌨️ COMMENT
🫂Remember: A lot of Hardwork goes into for providing you Best Investment Articles.Your Generous Tips would Empower our Mission and help us to work even Harder for you to give Best Investment Advice.
