Shiba inu

Shiba Inu Price Prediction: 2024, 2025, 2030

SHIB price prediction: Key highlights

 

1. Primary support and resistance levels

  • In the weekly timeframe, SHIB established its lowest support level at $0.000007. Its highest resistance level is likely to be $0.000053.

2. Market sentiment

  • The market conditions in April 2024 suggest that SHIB bulls have been getting weak.

3. Predictive forecasts

  • Based on predictions from our AI/ML models, the average price of SHIB is expected to reach $0.0001 in 2031 and increase to $0.0003 in 2035.

Get valuable insights on SHIB via a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

 

SHIB technical analysis: Market battles to prevent bearish reversal

 

An analysis of the SHIB’s weekly chart revealed significant fluctuations in price movement, offering insights into potential future trends and Shiba Inu price prediction for 2024. Initially, the token faced considerable resistance at the $0.000011 mark. Repeated attempts to surpass this level in April culminated in a rejection in mid-April, initiating a downward trajectory. 

 

This decline led to a brief breach of the lowest support at $0.000007 in June. Despite these challenges, the bulls tried to rally and reclaimed this level shortly. Nonetheless, their success was short-lived as the price failed to overcome $0.000011 in August, leading to another period of decline back to the lowest support by September.

 

After a momentary fall below the low support the next month, an interesting pattern emerged as the bulls initiated another recovery attempt in mid-October. The price challenged the resistance once more in mid-December, only to face another setback. Yet, SHIB didn’t fall to previous lows.
 

The beginning of the new year did not immediately bring about a change in fortune for the memecoin, as it continued to struggle against the same resistance level. However, a turning point was observed towards the end of February when a significant price surge enabled the token to overcome this long-standing barrier. This breakthrough was not isolated, as many altcoins, including SHIB, often follow Bitcoin’s (BTC) price movements, which were trending higher.

 

Continuing its upward trajectory into March, the token established $0.000032 as its new highest resistance level while reclaiming $0.000020 as support. This development was particularly significant, as this support level had not been breached since May 2022. 

 

SHIB stood out as one of the cryptocurrency market’s top performers, boasting substantial gains. However, this streak was interrupted as the broader market crashed. The dog-themed token underwent a correction in April after being deemed overbought. According to CoinMarketCap, its value dropped by more than 26% over the last month.
 

As the analysis concluded, the bulls were holding on to the current support, with the token trading closely at $0.00002114.  Data from Santiment indicated a decline in SHIB’s Market Value to Realized Value (MVRV) ratio. 
 

This can lead to selling pressure as holders try to liquidate their positions to avoid potential losses. If the current support breaks, SHIB could retract to $0.000014 or $0.000013. Pronounced bearish conditions could potentially push the token’s price down to $0.000011

 

As per AMBCrypto’s recent analysis, if SHIB surpasses the price levels of $0.000035 and $0.000039, it could potentially achieve an additional 60% in gains. Nonetheless, to reclaim the all-time high (ATH), bulls might need to watch out for substantial pushback at $0.000053.

 

Our prediction models support a moderate yet growing bullish sentiment, forecasting the token’s average trading price to rise as high as $0.0001 in 2031. The projections also suggest an increase in the token’s average trading price to $0.0003 by the year 2035.

 

SHIB’s 2024 roadmap: Key indicators to watch and trade

  • The trading volume of SHIB remained lackluster for most of the observed period. A notable increase in volume was observed during the late February surge, with a peak volume of 355.715 trillion recorded in March. 
  • The recent drop in the token’s value was mirrored in the volume dynamics. This pattern reflected a re-evaluation of the token’s value by the market as traders reduced positions or waited for new developments.
  • The On-Balance Volume (OBV) began to ascend slightly in June. It then faced a downturn from August to October before resuming its ascent.
  • Between December and mid-February, the indicator showed flat momentum. This was succeeded by a sharp spike, with the OBV peaking at 1782.855 trillion. At the time of writing, it slightly descended to 1519.719 trillion, suggesting buyer fatigue.
  • The Awesome Oscillator (AO) dropped below the zero line in May. It only turned positive towards the end of November, suggesting a shift towards buying momentum.
  • Towards the end of February, the AO’s positive value rose significantly. However, this trend reversed in April with a slight drop, bringing the indicator close to zero at 0.00001342. It indicated a decrease in market momentum.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *