Will Shiba Inu Coin Reach $1; Here Is What This Indicator Tool Predicts

Shiba Inu
Will Shiba Inu Coin Reach $1; Here Is What This Indicator Tool Predicts

Shiba Inu is one of the most talked about the crypto asset in the crypto industry as it has created so many millionaires in the last crypto bull run with many vesting so much into the memecoin that has so much potential to turn around the lives of many as it has done in time past.

The price of SHIB over the past two years has had over 100,000% growth despite the market finding itself in a difficult bear market that has affected the price of most crypto assets.

Other Reading: Top 3 Altcoins You Should Pay Attention – MKR, YFI, LDO

The price of SHIB dropped from its high of $0.00008620 to a low of $0.000005000 as the price suffered over 80% loss since the start of the bear market as the drop in Bitcoin (BTC) has also impacted the price of most altcoins with the price of memecoins suffering the most.

This has led many to wonder if the price of Shiba Inu (SHIB) could ever reach $1 considering how volatile the crypto market has been for the past one and a half years, with many wondering if this is possible as the creation of Shibarium ecosystem could drive more demand and traffic for the price of SHIB in the coming bull market.

Shiba Inu (SHIB) Price Analysis 

SHIB Price Analysis | Source: Tradingview.com

The price of SHIB has struggled to show much price action since the start of this bear market despite suffering more downtrend in the past months as the price trades between the range of $0.000012 to $0.000006 with many expecting a major break out in the price of SHIB.

The price of SHIB on the monthly chart needs to break past the region of $0.000018 for the price to have a relief bounce as the price has struggled to break past this region in the past month. 

SHIB has a strong meme community that has shown great willingness to back this great project as many still believe in the potential of SHIB rallying to $1 in the coming bull market as this will create more millionaires if not billionaires with little investment. 

You can buy SHIB on Zoomex as this will boost your chances to buy SHIB at a bargain while you wait for the next crypto bull run.

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