Shiba Inu Price to Rise? SHIB Targets $0.000085 Buy Zone

Shiba Inu has declined 1% in 24 hours to $0.00001725 while the crypto market rises 0.5% today.

The meme token has dropped 8% in a week and 33% in a month, although it has gained 125% in the last year.

Its losses placed it in a deeply oversold position, thus technical analysis suggests a comeback shortly.

With the market showing signs of revival, the Shiba Inu price might conclude the year strong.

Shiba Inu Price to Rise? SHIB Targets $0.000085 Buy Zone
SHIB's chart shows indicators rising from oversold levels, suggesting a comeback.

Its purple relative strength indicator is climbing to 50 today after reaching 30 this morning.

SHIB's 30-day average (orange) has been below the 200-day (blue) for weeks, indicating substantial overselling.

SHIB's data shows low activity, $200 million today compared to $2 billion roughly a month ago.

While this shows no reduction, SHIB's lesser volume makes it more vulnerable to huge price increases, particularly from whales.


Due to under-appreciation and poor volume, SHIB may rebound shortly, especially if Ethereum ETFs bolster the market.

These ETFs might start as soon as July 4, boosting Ethereum's and alts' prices with increased demand and volume.

Since it uses Ethereum, Shiba Inu may be particularly vulnerable to favorable demand.

Ethereum ETFs may contribute to September rate reduction by US, UK, and other central banks.

This will encourage trader bullishness and demand for meme currencies like Shiba Inu.

SHIB will gain support from its fundamentals while it awaits the introduction of its layer-three network and metaverse platform.

This might boost the Shiba Inu price to $0.00004 by year's end.

#SHIB $SHIB