Shiba Inu Retests Its Pivotal Point, SHIB Price To Hit $0.000030?

The post Shiba Inu Retests Its Pivotal Point, SHIB Price To Hit $0.000030? appeared first on Coinpedia Fintech News

With a jump of ~14% in the past 24 hours with a trading volume of $6.543 billion. The SHIB price has maintained its bullish sentiment. The Shiba Inu memecoin has soared 58.39% over the past week, resulting in a multi-level breakout.

Amid increasing bullish sentiment in the crypto space, will the Shiba Inu (SHIB) price challenge the market cap of Cardano (ADA) which currently guards the 09th position with a valuation of $20.703 billion? You are minutes away from finding out the possibilities!

SHIB Price Records 5-month High!

With the recent price jump, the Shiba Inu meme coin has successfully reclaimed the $0.0000260 mark. Furthermore, the 2nd largest memecoin by market cap has claimed its position in the top 10 cryptocurrencies, indicating increased market dominance.

TradingView: SHIB/USDT

Reportedly, this memecoin project has recorded a 24-hour High/Low of $0.00002786 and $0.00002315. Moreover, with a trading price of $0.00002583, it has a market capitalization of $15.282 billion.

The EMA 50/200-day has experienced a Golden Cross in the daily time frame, suggesting increased buying pressure for it in the crypto space.

The Moving Average Convergence Divergence (MACD) shows a constant rise in the green histogram with its averages showing a constant rise. This hints that this altcoin may continue gaining value in the upcoming time.

Will SHIB Ever Go Up In Price?

Maintaining the bullish action could push the price of SHIB coin toward its resistance level of $0.00003080. Furthermore, if the bulls hold their dominance, the Shiba Inu price could potentially exchange hands at around $0.0000380 by the month-end.

On the contrary, with a turn of events or an increase in the profit booking, the SHIB crypto could restest its low of $0.0000200 during the coming weeks.

Curious about the long-term possibilities of this memecoin? Read our Shiba Inu (SHIB) Price Prediction!

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