Shiba Inu Price Analysis: SHIB Price Primed For 27% Spike
The post Shiba Inu Price Analysis: SHIB Price Primed For 27% Spike appeared first on Coinpedia Fintech News
Shiba Inu (SHIB) is the 14th largest crypto by market cap. Shibu Inu has so far stayed stable in the market and constantly attracting a lot of analysts due to its significant growth in the last week and month. In the series of predictions, one of the top crypto strategists Micheal van de Poppe has made a bullish prediction about Shiba Inu.
According to Poppe, Shiba could see a rally of over 27% maintaining its upward trend. Notably, SHIB alone has posted a double digit-gain within a week while other coins have struggled to maintain their positions.
Recovery after decline
Shiba Inu saw a brief decline to $0.00000996 on August 14 after hitting its recent high of $0.00001136 on August 12. However, on Monday it recovered back. This has affirmed analysts to make bullish predictions about SHIB, including Poppe.
As per Poppe, if SHIB maintains above the support level of $0.00000808, $0.00000870, and $0.00000941, it could carry the existing uptrend up to 27%. Falling below the support level could kick a downward trend too. Currently, Shiba Inu is priced at $0.000009861.
Downward trend until Shibarium Launch
SHIB’s chart looks promising. The coin has overcome multiple resistance levels recently, suggesting more potential for growth. Experts believe that the ongoing upward trend for SHIB is here to stay. The upcoming Shibarium launch next week is the reason for that. Shibarium is an upcoming Layer 2 blockchain developed by the Shiba Inu project.
It is designed to interact seamlessly with the primary Ethereum blockchain (Layer 1), providing a more scalable and cost-effective transaction platform. Experts are under the belief that this upgrade is going to keep the coin rally and remove its “meme coin” tag entirely.
