• Shiba Inu (SHIB) was launched on the Ethereum blockchain and also resides on the Binance Smart Chain (BSC).
• Bullish SHIB price prediction is $0.00002031 to $0.00004355 and bearish SHIB price prediction for 2023 is $0.00001309.
• Currently, Shiba Inu (SHIB) is in the range of $0.00001338 and if the trend reverses, then the price of SHIB may fall to $0.00000955 and $0.00000787.
What is Shiba Inu (SHIB)?
Shiba Inu (SHIB) was launched on the Ethereum blockchain and also resides on the Binance Smart Chain (BSC). This popular memecoin was developed and launched in 2020 by a pseudonymous founder Ryoshi. Also, it is called the DOGE killer as Shiba Inu is a potential contender to the largest memecoin, Dogecoin (DOGE).
Shiba Inu Current Market Status
Current Price: $0.00001341
24 – Hour Trading Volume: $446,861,438
24 – Hour Price Change: 5.1% up
Circulating Supply: 589,366,997,842,605
All – Time High: $0.00008616 (on Oct 28th 2021)
Shiba Inu Price Prediction 2023
Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel but they often form within longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices but only after an upside penetration of the upper trend line. Currently, Shiba Inu (SHIB) is in the range of $0.00001338 and if it continues its pattern it might reach resistance levels of $0.00001567 ,$ 0 . 00001947 and 0 . 00002838 . If there’s a reversal of trend ,then we might see SHIB dropping to support levels of 0 . 00000955 & 0 . 00000787 .
Support & Resistance Levels
The chart below shows the support & resistance levels of Shiba Inu(SHIB):
Support Level : 0 . 00000955 & 0 . 00000787
Resistance Level : 0 . 00001567 ,$ 0 . 00001947 and 0 . 00002838
Conclusion
Shiba Inu holds 15th position according to CoinGecko right now & its price prediction for 2023 suggests that this cryptocurrency could go either way depending upon various factors like market trends ,support levels etc.. Investors should keep track of all these factors before investing into this digital asset or any other cryptocurrencies for that matter!