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/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.
Author
Filip Lagaart
FXStreet
Filip Lagaart is a former sales/trader with over 15 years of financial markets expertise under its belt.
