November is a tough month for cryptocurrencies, with Shiba Inu coin and Cardano being among the worst-performing. SHIB coin has been on a downtrend since the start of November. Even the coin hit the low of November recently. But there could be a possibility of a new long-term uptrend.
SHIB is currently trading at $0.00004599, with an increase of almost 36% recently after the developers have announced a gaming partnership. The future of Shiba Inu is still unknown. Some predict that it will continue growing in value, while others say the price may drop lower and stay there for a long time or even go down further.
Shiba Inu Coin Price Analysis
The Shiba Inu price dived last week with global markets, which caused SHIB to print an all-time low for November. The price action from this weekend saw a pick-up in buy volume, with SHIB declining to its $0.00003500 low, which would be an interesting point of resistance in the future if the bears maintain control over it for much longer.
If we look back at October, the price declined immediately after the Tesla CEO Elon Musk Tweet. But the dive was for just for a while. The SHIB token then saw a huge rise in its price up to 800%, which was incredible.
As the crypto market is highly volatile, the prices go up and down with the pace of time. No one can predict what could happen next. In the case of Shiba Inu, most of the Investors are worried and or panic.
The only question every investor had in mind was when the Shiba Inu Coin would rise?
So far, our analysts have predicted the meme coin. In this article, we’ll take a look at what they are predicting for its future potential growth.
Shiba Inu Coin Price Prediction
According to Coin Price Forecast, Shiba Inu is predicted to reach US$0.00019059 by the end of 2021 and will increase in value to a mid-range estimate at around $0.00021956 by 2022. However, many other experts have come up with different positive price predictions for this cryptocurrency.
The price of Shiba has an upper and lower bound, with the former being $0.000068 and the bottom at $0.000038, respectively. A successful fixing above this range will open up room for an x3 growth towards an area around $0.00002.
Even though the price will fluctuate, it’s important to keep your confidence and not sell at an undervalued rate. If you do so, when sellers start pushing down on prices due to their lack of interest in buying, then they may stop just below $0.00002.
The targets have been reached! I’m expecting some minor consolidation between $0.00004800 and $0.00005200, so don’t expect another parabolic move yet.
Furthermore, SHIB will continue its upward trajectory towards the new prices at around $0.00005750.
