Will Shiba Inu (SHIB) Overtake Dogecoin as the Top Cryptocurrency? A Look at SHIB Price Predictions
Shiba Inu Coin (SHIB-USD) has been in an uptrend since the start of 2021, with its price rising 62% from its December low. However, the bulls have been unable to break through the $0.00001500 resistance level, leading to a 1.25% decline during the London session on Monday. The current risk-off approach in the market due to inflation and the upcoming FOMC meeting may put a damper on SHIBUSD’s bullish prospects. Nevertheless, as long as the price stays above $0.00001086, it is still in an uptrend and could potentially break through $0.00001812 in the coming days. To ensure a bigger bullish reversal, however, the price needs to stay above the 200-day moving average of $0.00001096. As such, it is better to wait for a breakout or breakdown before investing in Shiba Inu coin.