SHIB Price Prediction: Shiba Inu ready to pop to $0.00001 by the end of this week


  • Shiba Inu is set to jump higher in a technical push towards $0.00001.
  • Thanks to Bitcoin, SHIB is in the slipstream of the positive news in the major cryptocurrencies. 
  • Overall risk-on sentiment in the markets, with specifically Nasdaq higher, helps to lift SHIB.

Shiba Inu is set for a run higher towards $0.0000093 as the first point of resistance in the rally. After that, the $0.00001 level is in sight. 

SHIB is surfing on the favorable tailwind of the Nasdaq and Bitcoin

Shiba Inu is ready to jump higher. Pure technical, SHIB has the ascending trendline that has pushed SHIB higher. SHIB surpassed the double top at $0.0000085 to the upside. That level is now turning into support and will keep prices elevated above this price range of $0.0000085.

To the upside, the first potential cap lies at $0.0000093 with the double top from June 16th and 17th. Expect SHIB to pause or hover around that area for a few hours before moving higher and SHIB to make the jump to $0.00001.

On the technical front, Shiba Inu is set for a play higher. However, the overall sentiment is helping as well. Yesterday we had Nasdaq breaking all-time highs, as Bitcoin continues on a consecutive winning streak. This winning streak could attract back investors and speculators to the crypto space and makes Shiba Inu an exciting token to take part in. 

SHIB 4hr Chart

SHIB/USD 4 hour chart

The double triangle formation to the upside in Shiba Inu is ready to jump higher to $0.0000093 and next $0.00001. Not only in technical analysis but also the sentiment in the markets right now has lifted SHIB to the upside. Get ready for the launch.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin is showing rising correlation with the S&P 500

Bitcoin is showing rising correlation with the S&P 500

Bitcoin and the crypto market have been in an uptrend since Wednesday following the Federal Reserve's decision to cut interest rates by 50 basis points. Bitcoin is up nearly 3% in the past 24 hours, rising briefly above the $63,000 level for the first time in three weeks.

More Bitcoin News
Ethereum rallies over 6% following decision to split Pectra upgrade into two phases

Ethereum rallies over 6% following decision to split Pectra upgrade into two phases

In its Consensus Layer Call on Thursday, Ethereum developers decided to split the upcoming Pectra upgrade into two batches. The decision follows concerns about potential risks in shipping the previously approved series of Ethereum improvement proposals.

More Ethereum News
Consensys case against SEC over Ethereum dismissed by Texas court

Consensys case against SEC over Ethereum dismissed by Texas court

Consensys announced dismissal of a case it filed against the SEC in April about the agency's alleged actions against Ethereum. Judge Reed O'Connor of the Northern District of Texas dismissed the case on Thursday. Consensys claims that the court failed to examine the "merits" of its claim against the SEC.

More Cryptocurrencies News
XRP eyes gains as Ripple gears up for stablecoin launch, Grayscale XRP Trust notes rising NAV

XRP eyes gains as Ripple gears up for stablecoin launch, Grayscale XRP Trust notes rising NAV

Ripple (XRP) gained 2.3% since the start of the week. The altcoin’s gains are likely powered by key market movers that include Ripple USD stablecoin, Grayscale XRP Trust performance and the demand for the altcoin among institutional investors. 

More Ripple News
Bitcoin: On the road to $60,000

Bitcoin: On the road to $60,000

Bitcoin price retested and bounced off from the daily support level of $56,000 this week. US spot Bitcoin ETFs posted $140.7 million in inflows until Thursday and on-chain data supports a bullish outlook.

Read full analysis
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

BTC

ETH

XRP