Shiba Inu is All Set to Reach US$0.000030 in the Coming Days

Shiba Inu has found a resistance level at US$0.0000227, which triggered a bull rally

After sustaining at a strong support level for a while, Shiba Inu is ready to reach US$0.000030 soon. Despite the ongoing bear rally in the cryptocurrency market, SHIB has ignited a remarkable bullish trend that will give an edge to the Dogecoin killer in the coming days. Shiba Inu has found a resistance level at US$0.0000227, which helped the cryptocurrency opt for an upward path.

Shiba Inu has emerged as the biggest winner of 2021. The Dogecoin competitor started the year at US$0.000000000073 and ended at US$0.000033, recording a jaw-dropping 45,000,000% growth. After reaching an all-time high in October, Shiba price has declined by 63%. Although SHIB lost its position in the top 10 cryptocurrency list and forfeited to Dogecoin, the infamous Shib army still had belief in the digital token. Fortunately, investors who held on to Shiba Inu with a hope for a bull run are seeing light at the end of the tunnel. The current flip from the resistance point is expected to touch a dissenting triangle where it could face rejection. However, predictions suggest that SHIB could easily pass through the rejection and perform well for the next few months.

Shiba Inu Price Analysis

According to FXStreet, Shiba price set up three swing lows around a vital support level. This caused a trend reversal, which eventually could trigger a bull run. Even when the whole cryptocurrency market was extremely gloomy and top digital tokens faced back-to-back hits, SHIB managed to record 75% growth in the past two months. Finally, the Dogecoin killer has shifted its resistance level into a support formation, giving rise to a triple bottom. This reversal pattern will make Shiba Inu price hop on a massive bull rally.

So where is Shiba Inu price headed this time? According to graphs, SHIB has the potential to reach US$0.0000283 this time, which will be an interim high for the coin. But much of its growth is highly dependent on Shib army and new investors. If the expected bull run triggers a FOMO again, then the Dogecoin killer will reach US$0.0000326 in a matter of weeks. In a nutshell, SHIB investors can expect at least 50% growth for now.

What Factors can Trigger a Further Growth for SHIB?

When it comes to Shiba Inu, a number of factors including adoption, easy usage, price surges, etc contribute to its growth. To begin with, easy access is the first thing to consider right now. Ethereum gained popularity for its features that enable cryptocurrency investors to use it on a daily basis for trading and buying things. Similarly, more listing on crypto exchanges and inclusion in top platforms like Robinhood could make SHIB extremely competitive.

In May 2021, Shiba price surged after the cryptocurrency was added to Binance and OkEx, which eventually led to Coinbase Global listing it. Later on, the petition to include SHIB on Robinhood acted as a major factor that gave a big rise to the Dogecoin competitor.

Unlike other cryptocurrencies, Shiba Inu’s growth is highly dependent on the so-called ‘whales’. According to a report, 70% of Shiba Inu was owned by eight whales as of October 2021, which accounted to 41% of the circulating supply. So any movement in those wallet addresses will highly impact Shiba price.

Shiba Inu was solely created as a joke cryptocurrency that could mock Dogecoin. But once it gained traction among investors, the developers increased its utility. Today, more and more companies are coming forward to accept Shiba Inu as a payment method.

Is US$1 on Radar?

According to experts, Shiba Inu price could never reach US$1. Even if the cryptocurrency emerges as a top choice among investors, its price could still not reach the remarkable spot for a number of reasons. One big objective is its supply. Shiba Inu has a total supply of 549.1 trillion. If every SHIB token is valued at US$, then its market capitalization will reach US$549.1 trillion, which is impossible.

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