Shiba Inu could register a 200% surge in the next 1 month

Shiba Inu could register a 200% surge in the next 1 month

The next 30 days are crucial for Shiba Inu ($SHIB). It will likely follow a macro trend and bank a growth of approximately 200%. In the next 5 days, it will first meet the psychological mark of $0.00003218 to set the stage for the trajectory. This comes as the crypto market comes out of its shells, constantly making pivotal breakthroughs. The predicted value for the next 30 days is $0.00008083, a rise of 226.47%.

For reference, SHIB is currently exchanging hands at $0.00002476. This is a dip of 0.19% in the last 24 hours and 2.81% in the last 7 days.

Red trade spans over the market cap as well, for the number has declined by 0.15% at the time of writing this article. There is a probability that the ecosystem is beginning to buy the dip. The 24-hour trading volume is up by 172.40%.

The consolidation within the descending triangle pattern sparks speculation about a bull run. It ideally demonstrates a bearish sentiment; however, the community expects it to be temporary—probably a correction before the uptrend begins. Shiba Inu’s volatility is hovering around 4.24%, with a 50-day SMA of $0.00002455 and 72 points on the Fear & Greed Index, showcasing its Greedy nature.

SHIB is being pulled back amid the rising red days in the trade market. It has seen 13 out of 30 red days for a rough translation of 43% in performance. Nevertheless, sentiments around SHIB are largely bullish. Its 14-day RSI is 52.84, and the 200-day SMA is $0.00001685.

The dog-themed meme coin is ranked second on the list, just behind Dogecoin (DOGE), with a market cap of $14.63 billion. Shiba Inu is chasing the gap against Dogecoin to ensure it dethrones the flagship meme coin from the top position. Shiba Inu is backed by its community and social media trends. This is a widely prevailing instance across the meme coin segment.

It is best to understand that SHIB predictions stated anywhere are subject to volatility and several factors. SHIB, or any other cryptocurrency, may or may not climb the ladder to the predicted estimate. It is crucial to conduct research and risk assessment ahead of crypto investments.

That said, Shiba Inu is determined to chase a 200% surge in the next 30 days. This would pave the way for a new milestone, a new ATH for the meme coin. The crypto market is aiming to rebound from the recent downturn. This majorly includes the likes of Bitcoin (BTC) and Ethereum (ETH), which will mark several upticks in the future.

Trevor Holman: Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.