Shiba Inu Coin is still on the hype: Why the Token is rising?

Shiba Inu is still rising gradually, as the coin has crossed the $0.0000075, and is currently trading at $0.0000077 at the time of writing. Since last weekend, its value is surging because the rally continues in the world of cryptocurrency. The positive impact has also affected Shiba Inu Token, through which its market value has gained almost 15.53% in the last week.

If the recent hype continues it might raise Shiba Coin’s value to $0.000008. Which could be a positive sign for investors. The coin has almost gained 4.25% this week, which isn’t a bullish move yet, however, SHIB seems to further rise in the near future.

Moreover, the recent rally has affected other crypto coins as well. Bitcoin is also trading above $46000, similarly, Dogecoin is also on the hype, and is currently trading at $0.2708 at the time of writing.

What are the future Predictions?

Shiba Inu was under a huge slump for the past few weeks at a trading level of $0.0000063, while currently, it has broken the resistance level of $0.0000075. If we look in short terms, it might cross $0.000008. The possibility shows it will rise more as the rally in the crypto world is still on the rise.

According to FxStreet

“The Shiba Inu price event on August 7 and August 8 of 40% may have been a transformative moment for the meme token after spending weeks hovering above the crucial May 19 low. Now, SHIB is positioning for higher prices in a constructive base with a concise entry price, presenting a unique opportunity for SHIB speculators to participate in a 36% rally”. 

Dogecoin Price

Just like Shiba Inu Coin, Dogecoin has also experienced a sudden rise. With an almost 18% rise, it has broken the resistance value of $0.2750. Further predictions suggest it might rise and rally soon. According to FxEmpire,

“In case Dogecoin manages to settle above this level, it will gain additional upside momentum which will be bullish for Shiba Inu as meme cryptocurrencies often make big moves together”. 

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