Investors Should Expect These! Latest SHIB Analysis - News-Credit-Mortgage-Coin

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Sunday, August 22, 2021

Investors Should Expect These! Latest SHIB Analysis

 



Remarkable predictions for the Shiba Inu (SHIB) are coming from different platforms that we will examine shortly. The anticipated move is to the upside and SHIB is likely to gain further momentum as the price continues to rise. On this, we will also get SHIB estimates from analyst Herb Scribner. Let's start with the recent price action of SHIB…


What happened at Shiba Uni (SHIB)?

SHIB, a memecoin with the same theme as Dogecoin, has risen 60% in recent weeks since hitting its lowest value ever in July, according to Investing Cube. Today, it registered 3% weekly gains and the last 24-hour fixed price, which are levels that would be considered average to the market as a whole. The price still shows strong support for SHIB as there was a significant move in the 25-day and 50-day periods.




What are the price estimates for the Shib?

A forecast from Investing Cube shows that SHIB will see another round of resistance once its current level reaches $0.0000096 from $0.000008336. He then makes predictions saying that SHIB can continue upwards. Meanwhile, the Shib coin currently has a high entry price for new investors, and data shows that there is no major volatility for the cryptocurrency. Although the positive trend of its market has boosted the price of SHIB, its price has not shown a strong increase to other altcoin projects recently. This makes it difficult for new investors to discover the memecoin-based cryptocurrency.

How could the price of Memecoin rise again?
Estimates on this subject are about the Elon Musk effect. In the past months, especially DOGE was the most popular cryptocurrency in this field. The forecasts of Investor Place also point in this direction. If the Shiba Inu can experience a social media boom like its known examples, it could find massive buyer support. Specifically, Tesla CEO Elon Musk, who had previously embraced Dogecoin, could garner enough support if he gets his hands on memecoins again, according to Investor Place. If that happens, it could easily be enough to push the prices of memecoins to double digits in a matter of days, according to Investor Place.

If we look at the latest market situation, August is a month when DeFi projects compete for the first place.


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