Shiba Inu Price Prediction: Is SHIB in a Price Reversal?

Whales are in play on the current Shiba Inu price surge of 4 per cent in today’s trading session and yesterday’s almost 5 per cent price gain. According to a report by @shibaplay_, a total of more than 4 trillion Shiba tokens have been transacted in the past few hours, a more than $50 million transfer of the coin.

The research also showed that whales had taken a keen interest in Shiba Inu, which has seen its trading volume continue to surge. In the past 24 hours, Coinmarketcap indicates there has been a surge of 11 per cent in the trading volume of the crypto. This has seen the amount transacted during that time jump to almost $1 billion.

The current Shiba Inu growth has also been in tandem with the general trend of the global cryptocurrency industry. For the past week, the industry has shown signs of recovery, moving from a total of $960 billion to a current market capitalization of over a trillion. Despite being a memecoin, Shiba Inu has a significant correlation with the industry; hence, the bullish trend has greatly impacted its price action.

Shiba Inu Price Prediction

In today’s trading session, Shiba Inu is up by 4 per cent, extending yesterday’s aggressive bullish session. The chart below also shows the price broke above the $0.000012 resistance level yesterday but dropped below it in the late hours of the session. However, in today’s session, the surge has again broken above the resistance level and looks poised to continue with the bullish trend.

Therefore, my Shiba Inu price prediction expects the prices to continue going up, with a possible $0.000015 price level being hit. My long-term Shiba Inu price analysis is also to the upside, with a possible 0.000020 price level being hit by the end of the month. A trade below the $0.000011 price level will invalidate my analysis.

SHIB Daily Chart