• Shiba Inu (SHIB) has been gaining strength, and its price has risen beyond $0.000009 in a short time.
• The bearish market sentiment has not been able to suppress the SHIB price, which may continue to range high.
• Analysts are predicting that the SHIB price is due for a major upswing of more than 110% very soon, as a result of a ‚Adam & Eve‘ pattern being formed.
The cryptocurrency space is alive and kicking, as the prices of various coins are showing signs of strength. One such coin which is experiencing an upward trend is Shiba Inu (SHIB). In a span of just a few days, the SHIB price underwent a notable upswing and raised the price beyond $0.000009. Although the bears are trying hard to squeeze the price, the SHIB price may still range high, getting triggered by bullish market sentiments and favorable news.
The SHIB price had witnessed a steep descending trend ever since the markets collapsed in November 2022 due to the collapse of FTX. The price continued to decline as the bears took control of the market and the SHIB price marked the yearly lows around $0.00000778. However, the price slowly started to recover towards the end of the year and at the start of the new year, the SHIB price is trading at $0.000009137 with a 24hr jump of 2.55%.
Notably, the price is being driven higher by the strength of Bitcoin, as the primary crypto asset is showing signs of bullishness. The market indicators are also flashing bullish signals, as the Bollinger bands exploded towards the north after experiencing a squeeze during the first few days of 2023. Furthermore, analysts are predicting that the SHIB price is due for a major upswing of more than 110% very soon, as a result of a ‚Adam & Eve‘ pattern being formed.
This pattern is one of the varieties of a double bottom pattern, which is largely considered as bullish. Thus, the price may go beyond the $0.00001 mark, if the bullish market sentiments continue. Moreover, the upswing in SHIB prices may result in the coin entering the top 10 cryptocurrencies, which will be a notable achievement for the SHIB community.
Overall, the Shiba Inu (SHIB) is looking to make a mark in the crypto space, as the prices are showing signs of strength and the coin may enter the top 10 cryptocurrencies very soon. The future of SHIB looks very promising and investors should keep a close eye on the price movements in order to get the most out of their investments.