This Shiba Inu (SHIB) price forecast for 2022 is based solely on technical analysis. The important metrics that we took into account when developing our SHIB price analysis and prediction are listed below.
Shiba Inu has recently become one of the most popular digital assets in the crypto market. SHIB has piqued the interest of investors all around the world. In terms of cryptography, SHIB is an experimental meme token built on the Ethereum network. As a result, SHIB must adhere to the ETH network’s regulations and limits. SHIB, on the other hand, can benefit from the technology that ETH and its other crypto partners have.
We examine SHIB’s performance if it reaches $0.00004717 in our SHIB price study and price projection. But first, let’s have a better understanding of Shiba Inu (SHIB) and its current position in the cryptocurrency market.
What is Shiba Inu Token?
Shiba Inu, often known as the Dogecoin Killer, is a cryptocurrency meme token. SHIB gained its moniker as a result of its capacity to outperform Dogecoin in terms of value. This is a bold accomplishment for which SHIB should be proud.
On comparison to other digital assets in the crypto market, SHIB is still a new project. SHIB, on the other hand, continues to develop its technology with the help of its developers. In fact, the network is presently working with $LEASH and $BONES, two of its other flagship tokens.
SHIB is also working on creating its own decentralized exchange, ShibaSwap. ShibaSwap aims to create a secure environment for crypto traders to trade precious coins once it is established.
For the time being, traders and investors interested in SHIB can check the cryptocurrency’s availability on various decentralized exchanges. Binance, Huobi Global, and OKEx are just a few examples.
Shiba Inu (SHIB) Market Position
SHIB is one of the crypto market’s most aggressive digital assets so far this year. As a result, the cryptocurrency was able to climb into the top 20 cryptos on CoinMarketCap. Indeed, this is a favorable market situation for international investors.
SHIB has a market capitalization of over $26,029,339,237 at the time of writing. With a circulating supply of over 549,095.51B, SHIB has a 24-hour trading volume of over $28,743,548,846 today. SHIB
Do you believe SHIB is a good investment this year now that you have a better understanding of what it is? If you’re already curious, come along and let’s look at this SHIB price analysis and price prediction post together.
Shiba Inu (SHIB) Price Analysis 2022
SHIB is currently ranked 11th on CoinMarketCap. Will the SHIB blockchain’s latest upgrades, developments, and modifications, however, help the cryptocurrency price rise? In this SHIB price forecast article, we’ll look at the charts.
SHIB Price Live Data
With a 24-hour trading volume of $6,170,893,843 USD, the current SHIBA INU price is $0.000049 USD. Our SHIB to USD pricing is updated in real-time. In the previous 24 hours, SHIBA INU has gained 24.20 percent. With a live market cap of $26,760,812,802 USD, Bitcoin is currently ranked #11 on CoinMarketCap. The maximum supply is not known, although it has a circulating supply of 549,056,523,057,379 SHIB coins.
The Symmetrical Triangle Pattern can be seen in the hourly time frame graphic above. This pattern depicts a period of consolidation before a price breakdown or breakout. We may say that SHIB has a better likelihood of going bullish than bearish in the near future.
SHIB has a Relative Strength Index (RSI) of 48.30, indicating that it is neither overbought nor oversold. This could result in a price reversal at any point. As a result, traders must trade crypto with caution and avoid being swayed by market euphoria. With all of this in mind, traders can avoid incurring unanticipated losses as a result of the crypto market’s rapid fluctuations.
SHIB’s Simple Moving Average (SMA) and Exponential Moving Average (EMA) are also worth considering.
Shiba Inu (SHIB) Price Prediction 2022
SHIB will reach $0.000049 before the end of 2022 if the current bullish trend continues. Furthermore, the first half of 2022 will see tremendous increase, reaching $26,760,812,802 . The growth will thereafter moderate, but no significant drops are forecast. With impending partnerships and developments, hitting $549,056,523,057,379 is a bit of a stretch in terms of pricing, but it’s certainly doable in the near future.
In 2021, SHIB has a bright future ahead of it. We may see SHIB reach new heights as a result of the continuous advancements within the SHIB ecosystem, as well as in the larger crypto market.
