Shiba Inu coin SHIB trend

SHIB is still in an uptrend, up about 60% since its October lows. The cryptocurrency also continues to hold above its 21-day moving average. However, there are currently circumstances that threaten to disrupt this trend. May lead to short-term decline. If a bear market occurs, it is likely to quickly retest the support area between $0.000009 and $0.0000095, which is the location of the 50-day moving average. In technical analysis, a breakout of the support area could signal further downtrend.

Price Prediction – What is the future trend of Shiba Inu Coin (SHIB)?

Suffice it to say, SHIB is still in an uptrend, up about 60% since its October lows.

The cryptocurrency also continues to hold above its 21-day moving average. However, there are currently circumstances that threaten to disrupt this trend. May lead to short-term decline.

If a bear market occurs, it is likely to quickly retest the support area between $0.000009 and $0.0000095, which is the location of the 50-day moving average. In technical analysis, a breakout of the support area could signal further downtrend.

Shiba Inu Coin (SHIB) Chart / Source: Investing.com If the overall crypto market continues its upward trend in the coming weeks and months, investors who are bullish on SHIB in the long term may Will enter the market to buy when SHIB price drops below $0.000010. Long-term price forecasts tend to be bullish. SHIB has performed relatively poorly relative to major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) over the past 12 months. SHIB is only up about 27%, while BTC and ETH are up 169% and 94% respectively.

To catch up, SHIB needs to maintain continued growth in blockchain activity on the recently launched Shibarium blockchain. Shibarium's goal is to power the Shiba Inu Web 3 ecosystem.

Back in early December, there were some signs of optimism for Shibarium, when the number of new accounts, active accounts, and transactions briefly rose sharply, according to data from Shibariumscan.io.

Although these signs are short-lived, SHIB supporters hope they are signs of a mature crypto bull market.

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