• Shiba Inu (SHIB) was launched on the Ethereum blockchain and also resides on the Binance Smart Chain (BSC).
• The Shiba Inu ecosystem is likely to launch its layer-2 blockchain called Shibarium by 2023.
• SHIB currently ranks 14th on CoinMarketCap in terms of its market capitalization.
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. It exists as a potential contender to Dogecoin (DOGE), with plans to launch its own layer-2 blockchain called Shibarium by 2023. Other tokens of this ecosystem include Bone ShibaSwap (BONE) and Doge Killer (LEASH).
Shiba Inu Market Status
At present, Shiba Inu ranks 14th on CoinMarketCap in terms of market capitalization, with a current price of $0.00001056, 24-hour price change of 0.82% down, 24-hour trading volume of $393,056,733 USDT and circulating supply of 589,346,914,631,298 SHIB coins. All time high & low prices are $0.00008845 and $0.00000000008165 respectively which were recorded on Oct 28th 2021 & Sep 01st 2020 respectively.
Technical Analysis Indicators for Price Prediction
In order to predict future movements in Shiba Inu’s price patterns we use accurate trader-friendly technical analysis indicators such as RVOL, MA, RSI etc along with Support & Resistance levels for prediction purpose. Ascending triangle pattern has been laid out in the chart which signifies bullish momentum for SHIBA INU in coming days or weeks ahead . We will also compare SHIB with BTC & ETH for better analysis before making our predictions .
Shiba Inu Price Prediction 2023-2030
For the year 2023 , Bullish prediction states that SHIBA INU might reach upto $0.00001075 -$0.00001395 while bearish prediction stands at around $0.00000641 . For 2024 , 2025 & 2030 , we expect SHIBA INU prices to increase steadily as more adoption comes into play .
Conclusion
We have concluded that based on technical analysis & comparison with other cryptocurrencies like BTC & ETH , Shiba INU might experience bullish run in upcoming years due to increasing demand from investors worldwide . However there could be some volatility during certain periods so investors should keep an eye out before investing their funds into it .