cryptocurrency SHIB Shiba Inu

Is it Too Late to Buy Shiba Inu? Crypto Experts Give Their SHIB Price Predictions

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cryptonews.com

Shiba Inu (SHIB), the second most popular and second largest dog-inspired meme cryptocurrency by market capitalization which currently lives as an ERC-20 token based on the Ethereum blockchain, has corrected about 6.7% lower in the last 24 hours according to CoinMarketCap.

That pullback is in line with a broader drop in major cryptocurrency prices as trader take profit on recent long positions.At current levels just above $0.000011, SHIB is still up about 38% this month, though has now pulled back close to 14% from its recent highs just under $0.000013.

Shiba Inu’s pullback comes in wake of the cryptocurrency breaking below an uptrend that had been lifting its price for the whole month so far.For now, support at $0.000011 is holding, partially thanks to buying ahead of the 200-Day Moving Average at $0.00001075.

But if that breaks, SHIB could see a quick drop to the next around of support around $0.00001.According to algorithm-powered financial asset forecasting website Wallet Investor that uses technicals and an assets price history to forecast into the future, Shiba Inu will lose over 92% of its value in 2023, dropping from its current value to around $0.0000008.

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