Shiba Inu (SHIB) has been a hot topic in the world of cryptocurrency, attracting attention from traders and long-term investors alike. With SHIB’s current price at $0.00001846, showing a 2.91% decrease in the last 24 hours, many are wondering if it has the potential to reach $0.000083 in the next bull run.
As of now, SHIB’s market cap is at $10.87 billion, reflecting a recent downturn in the market. The trading volume has also seen a decrease of 27.60%, indicating a lower level of activity and investor interest. With a circulating supply of 589.25 trillion SHIB, the price is still far from its all-time high.
Support and Resistance Levels: Where SHIB Stands
Analyzing SHIB’s price chart, we can see a short-term downtrend with lower highs and lower lows, signaling continued bearish pressure. However, recent price movements suggest that the market might be entering a consolidation phase.
Key support levels for SHIB are at $0.00001800 and $0.00001750, where buyers have shown interest in stepping in. If the price falls below these levels, the next support zone is at $0.00001750, which is a stronger level that could attract more buying interest. On the upside, SHIB faces immediate resistance at $0.00001900, with a more significant barrier at $0.00001950 that could indicate a potential trend shift.
Technical Indicators: Is a Reversal Coming?
The Relative Strength Index (RSI) currently stands at 36.42, indicating weak momentum but nearing oversold territory. If buyers enter the market, a reversal could be on the horizon. The Moving Average Convergence Divergence (MACD) is still in negative territory but shows signs of bearish pressure easing, suggesting potential stabilization or a reversal.
SHIB Price Prediction for 2025
Looking ahead to 2025, analysts forecast modest growth for SHIB. Price projections suggest a minimum target of $0.000027, a maximum target of $0.000033, and an average price of $0.000028. While these predictions indicate gradual upward movement, SHIB’s ability to break $0.000083 will depend on broader market trends, adoption rates, and whale activity.
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