SHIBA is a token of the platform Shiba Inu. Its current price is around $0.00001221 by the time of writing, with a low of $0.000006525, and it has a market cap of 6 billion dollars.
SHIBA Coin Market Analysis
SHIBA has a total supply of 589,735,030,408,323 coins worth around $0.00001221 with a market volume of 328 million dollars, whereas the market capitalization is 6 billion dollars at writing. According to market information from CoinMarketCap, Shiba Inu has become one of the most interesting crypto assets for users worldwide.
The second-largest meme cryptocurrency, Shiba Inu, has depreciated heavily over the past month. Its price has dropped by 20% in the last 28 days. However, a recent blog post by Shiba Inu uploaded in the past few days has managed to increase hope in the community and, given its price, a slight uptick.
The Shiba Inu Blog recently mentioned that the project, SHIB: The Metaspace, will soon become the culmination of its history. They have partnered with another partner, THE THIRD FLOOR (TTF), a professional visualization company.
This will also help push their limits. However, SHIB has clarified that they will only provide “subtle directions” to guide their audience in the trends they like.
The blog mentioned that Rocket in the cryptocurrency markets represents a level of trust regarding whether it can shoot up.
What is SHIBA?
SHIBA is the coin of the Shiba Inu platform, which is around $0.00001221 by the time of writing, with a low of $0.000006525. It reached a high of $0.00008845, and its current ranking is #14, according to CoinMarketCap, with a market cap of 6 billion dollars.
SHIBA Price Prediction
On the 1D timeframe, the price action of $SHIBA/USDT moves above the ascending triangle’s support trend line. Therefore, we have to wait for a successful breakout or breakdown, and we will enter it after a retest.
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Closing Thoughts
Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.
Disclaimer: Our analysis is for educational purposes.
