SHIB Price Prediction: SHIB Continues the Positive Trends Rising 39%, Can it Outdo Its ATH?

SHIB continues to make significant strides through the Q1 of 2022. During January, Shib sustained a positive trend, rising 39% in its total value. In the past 7 days, Shib has also shown an upward resistance trend. Could SHIB outdo its all-time high? Let’s find out more in this SHIB price prediction.

SHIB Fundamental Analysis

Shiba Inu is a popular cryptocurrency that people are talking about because it has become a popular meme. The meme coin has gained traction since October 28th, 2021. Its value hit an all-time high of $0.000084, a massive increase of 150,000,000% from when it first launched in August 2020.

The SHIB TOKEN has grown fast and even overtaken the pioneering popular meme coin, Dogecoin, in terms of value. However, there is the worry that the rapid growth of Shiba Inu’s value could mean that it will soon go down in value.

Shib doesn’t have any actual use other than for speculation and making transactions, which creates fear among investors about whether to invest in the coin.

Are Ledger and Atomic Wallets Boosting  SHIB Price?

Ledger and Atomic recently announced they would support the upcoming $SHIB blockchain (Shibarium) upon its launch. The ledger will offer hardware storage for various cryptocurrencies, including $SHIB, while Atomic Wallet, a multi-asset software wallet, will allow users to store, manage, and exchange various cryptocurrencies.

JUST IN: Ledger & Atomic Wallet will support the $SHIB blockchain “Shibarium” when it launches!

— Shiba Archives (@ShibaArchives) January 29, 2023

Additionally, Ledger and Atomic Wallets boost the accessibility and adoption of the $SHIB blockchain by providing convenient and secure options for users to manage their $SHIB tokens. This is excellent news for the $SHIB community.

SHIBA Eternity Revenue Report

The SHIB game “SHIBA Eternity” has proven to be a hit among players since its launch in November. It has attracted many players and is generating substantial revenue, with millions of dollars earned by players.

The official & exclusive #ShibaEternity Players Guide will be released November 2nd, on Día de los Muertos. This massive 1000+ page booklet details Shib’s CCG game, original lore and incredible art! Stay tuned #ShibArmy!

Game download links pinned to our @Shibtoken profile. pic.twitter.com/DejZTplJuu

— Shib (@Shibtoken) November 1, 2022

The game is available for download on two popular platforms, the Google Play Store for Android users and the Apple App Store for iOS users, making it easily accessible to many players.

Can SHIB Hit It’s All-Time- High?

In the previous analysis, Shib was trading above the 200-day moving average and heading toward the $0.00001505 resistance level.

The price of Shiba Inu (SHIB) is $0.000014233263 at the time of writing, with a 24-hour trading volume of $1,317,443,767. This represents a 14.67% price increase in the last 24 hours

Over the past seven days, Shiba Inu (SHIB) has seen a surge of 21.04% in its price, outpacing the overall cryptocurrency market’s growth of 4.50%. Additionally, it has outperformed other cryptocurrencies in the Ethereum ecosystem, which have only grown by 4.90%.

SHIB/USD Daily Chart

According to the chart above, the price of Shiba Inu has maintained a positive uptrend and could reach its all-time high. Shib is trading past the resistance level. However, to confirm the actual breakout, the price must retest the resistance level again.

The RSI indicator is also firm, trading at 83  above the 50-level mark. This indicates a strong bullish move in the long run.

The whole market is above the 200-day moving average, meaning that bulls are unbeatable. Q1 of 2023 will be very profitable for Shib investors.

SHIB Price Forecast

Investing in SHIB is a favorable decision this year, as all fundamental and technical analysis indicates a positive upward trend in its price. Based on our prediction, the SHIB token is expected to reach a price of $0.00001850 by mid the second quarter of 2023.

This represents a significant growth opportunity and makes investing in SHIB a worthwhile consideration. Before making any investment decisions, it is always advisable to conduct research and seek professional advice.

Related