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Shiba Inu Price Prediction – Is a Breakout Likely as Burn Rate Explodes?

Shiba Inu Crypto Price Prediction

The cryptocurrency market has made a positive u-turn over the 24 hours and as a result Shiba Inu has ferociously pumped to the upside shaving off a zero. Now up by over 5% in the last 24 hours, the price of Shiba Inu currently trades at $0.00001035.

Will Shiba Inu meme coin continue to pump or is this merely a fakeout?

Shiba Inu Crypto Price Prediction

It seems the bulls are back in control as Shiba Inu finally breaks out of a long-term symmetrical triangle pattern and removes a zero from its current trading price.

Entering overbought territory on the relative strength index there is a risk of a short term pull back in price for Shiba Inu, but the bullish momentum and green candles being printed on the price charts are showing no signs of weakness just yet.

Shiba Inu Symmetrical Triangle

SHIB/USDT – 4 Hour Time Frame.

As we can see Shiba Inu has been following a textbook symmetrical triangle which is typically a consolidation pattern. With Bitcoin pumping back above $20,000 today the sentiment in the blockchain markets flips bullish as thrill and excitement enters the market.

Investors who bought Shiba Inu during the crypto crash of June 2022 would still be up a whopping 40.25% if they were holding their investments today.

From a technical analysis perspective Shiba Inu is still looking very bearish versus the all-time high of $0.00008847 from October 2021, in fact, Shiba Inu is still down a massive 88% from the all-time high.

This could however suggest that Shiba Inu crypto is now in an undervaluation re-accumulation range which means downside risk is minimized and the upside potential from here to the next crypto bull market could potentially be very rewarding for patient long term investors.

Shiba Inu Descending Triangle

SHIB/USDT – Monthly Time Frame.

Zooming out on the price charts we can see that Shiba Inu is in a long-term downtrend where the price action has consistently produced lower highs. The diagonal resistance trendline proves to be a tough barrier to break through.

If Shiba Inu can retest the resistance trendline there is a good chance that we might see a $0.0000116 Shiba Inu by the end of 2022. The most bullish scenario is that Shiba Inu breaks out through the resistance and has positive price continuation up towards the swing highs in August 2022, of around $0.0000189.

Shiba Inu Crypto Video Analysis

According to Coinmarketcap Shiba Inu has a market capital of $5.64 billion, this is still quite impressive during a crypto winter and is still currently a top #20 cryptocurrency in terms of market capital.

Whilst there might not be much more room for growth for Shiba Inu in 2022, it could be an ideal price level to begin accumulating for a long-term crypto portfolio.

Stronger Alternative to Shiba Inu?

Whilst Shiba Inu and Bitcoin continue to pump once again, traders and retail investors begin to steer towards altcoins once again. Shiba Inu has already seen exponential growth since 2020 and gone through a whole entire market cycle reaching peak euphoria.

It might remain boring for quite some time before Shiba Inu really begins to take off once again through this long term crypto winter that we are now facing.

A new crypto presale is live and will be an altcoin that could pump massively once it launches, this particular coin is performing really well during the crypto bear market and is known as Dash 2 Trade (D2T).

Dash 2 Trade has rapidly raised over $2.4 million in the first few days of its presale and will have a total of 9 presale phases. A recent presale known as Tamadoge which analyzed also offered similar presale stages, investors who got in at the very first phase would have been up by an incredible 1,950%.

I speculate that Dash 2 Trade could also replicate similar results upon a succesful presale and deployment across multiple centralized exchanges which could be in the pipeline.

You can research more about Dash 2 Trade (D2T) by clicking here. Don’t forget to also join my official Discord channel to stay up to date with the latest crypto news, presale information and market insights.

Related

  • Dash 2 Trade Smahest 1st Stage of Presale
  • Shiba Inu Price Prediction 2022-2025
  • How to Buy Shiba Inu in the UK

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