Shiba Inu Claims From 3 Analysts: 1 Dollar On This Date!

The focus of the Shiba Inu (SHIB) community has been to push the price to $1. However, the chest token lacks the bullish momentum that has caused the recent drop to reverse. Here are the analysts’ price cuts in the short- and long-term lenses.

Shiba Inu price needs more power

The SHIB price lost 11% after the US inflation data on October 13. It then moved from the base zone of $0.0000083 to above $0.0000092. He had the opportunity to recoup his losses due to the high volatility of the day. It is currently trying to hold $0.000010 as a foothold.

FXStreet analyst Akash Girimath says if Bitcoin price fails to stabilize, we will likely see lower levels for SHIB. One of the key levels to watch is the lower limit of $0.0000083, the highest volume point. Retesting one of these levels would be a good place to save up.

However, if market conditions improve, we can expect a rebound from the Shiba Inu price. From the market makers’ perspective, local peaks of $0.0000179 will be ideal for selling. This move represents a roughly 119% rise in profits. According to the analyst, Shiba’s upper-sided movements are largely limited from now on.

On the other hand, if Shiba Inu price produces a daily candlestick below the volume peak at $0.0000081, it will invalidate the bullish argument. In such a case, the SHIB price could drop further. Analyst Girimath says we can watch the $0.0000074 test this time.

What technical indicators say about SHIB

Similar to Girimath’s claims, technical indicators present a bleak outlook for SHIB. His daily technical summary is in line with strong selling sentiment at 17 and neutrality at nine. A breakdown of the technical analysis shows that oscillators suggest selling the SHIB at three, with eight mentioning neutrality. On the moving averages, the techs point to a strong sell at 14 while sheer one shows neutrality.

At the same time, SHIB is trading below the 100-day and 200-day moving averages. This highlights the possibility of increasing selling pressure soon. Based on these indicators, analyst Paul L. says the bears will gain the upper hand as the sell-off weighs, potentially breaking the reinforcement level on the downside.

Will the Shiba Inu (SHIB) hit $1? As a result, we have described how Shiba will do this mathematically. In this line, crypto analyst Lark Davis showed how SHIB could imitate Dogecoin and possibly reach $1 in 15 years.

However, given the continued network development and the possibility of the crypto branch surviving the bear market, SHIB still holds its explosive potential, according to Davis.

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