SHIBA Inu Price Prediction

Shiba’s burn rate has skyrocketed by more than 250% in just a few days.

Shiba Inu prices have been consolidating for some time. The SHIBA/BTC pair has fallen by more than 2.3821%.

Shiba Inu is one of the most well-known meme coins in the cryptocurrency universe.

The difference in market capitalization between Doge and Shiba has been decreasing. Shiba Inu’s burn rate has increased by more than 250.23%. The SHIB community appears to be very enthusiastic about the Shibarium at the moment. Shibarium, a layer two solution for the Shiba Inu ecosystem, seeks to offer increased transaction speed and other new advancements.

The SHIBA community was teased with a special countdown by SHIBA’s official Twitter account. SHIBA’s price has been in a rut for a while, and it will need to increase its burn rate to reach $0.1 significantly.

Shiba Inu Is Currently Ranked 15th in The Crypto Verse.

It has a market cap of approximately $6.4B. The intraday volume of the SHIBA cryptocurrency has dropped by more than 36%. SHIBA is still more than 40% off its all-time high.

Shiba Inu has been concentrating on a specific range for a long time. It reached a high of $0.00001488 in the last 90 days but never came close to testing it. A strong consolidation can be seen on the weekly chart. On the daily chart, the asset price is trading near $0.00000857, representing a 3% drop. The SHIBA price is facing resistance near $0.0000125.

Meanwhile, the asset price support can be near $0.00000045. Currently, the asset price is trading below the 50 and 100 Daily Moving Averages. A negative crossover could occur, causing the price to drop to a new low.

Following a slump over the weekend and a week of concerns about a global recession and the stability of cryptocurrency exchanges, BTC and ETH prices were little changed on Monday morning in Asia. However, Binance’s BNB token regained some of its lost ground, and the other ten volatile coins were mixed by market capitalization with little change.