Shiba Inu Price Prediction as SHIB Whales Keep Accumulating at $0.000008 – Big Bounce Incoming?
The Shiba Inu price has dipped a little this morning, falling by 0.5% in 24 hours as the wider cryptocurrency market gains by the same percentage.
SHIB is at the $0.00000821 level, marking a 2.5% gain in a week and a 13% increase in a month, as the market becomes more bullish.
SHIB has also benefitted from the launch of the Shiba Inu Name Service, another new feature that aims to make the cryptocurrency more than a meme token.
So in conjunction with Shibarium and the much-anticipated SHIB: The Metaverse, such innovations could help boost SHIB further very soon.
SHIB’s indicators continue to look good, even with today’s misstep.
Its RSI (purple) is actually rising above 60 and towards 70, indicating strong buying pressure.
The coin’s 30-day average (yellow) is also climbing steadily, providing another bullish signal as it looks to cross over the 200-day average (blue), something which could signal a breakout.
It’s in this context that SHIB’s 24-hour trading volume remains relatively high, at more than $200 million, compared to $50-60 million during much of October.
It therefore seems that SHIB’s market remains active and could yield further big movements, especially with whales recently transferring large sums of the meme token.
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