Shiba Inu Price Prediction As SHIB Becomes Top 15 Crypto by Market Cap – Can SHIB Get to 1 Cent?
The Shiba Inu price has dipped by 1% in the past 24 hours, dropping to $0.00001087 as the wider cryptocurrency market rises by 2% today.
SHIB has also risen by a modest 0.5% within the last week, and is actually down by 17.5% in the last 30 days, at a time when Bitcoin (BTC) has risen by 28% and 15% within the same timeframes.
Despite this relative underperformance, SHIB has recently become a top-15 cryptocurrency by market cap, with its total value of $6.4 billion making it the 14th-biggest coin overall.
And with layer-two network Shibarium launching beta last week, the foundation has been laid for SHIB to experience some sizeable gains in the next few months, particularly with the long-awaited SHIB: The Metaverse also revealing a few new updates.
SHIB's indicators look as though a rally could be imminent, in that both its relative strength index (purple) and 30-day moving average (red) are in depressed positions that are due a positive correction.
For instance, its RSI dropped as low as 30 earlier in the month, meaning that the coin has been oversold, and with the indicator now rising steadily towards 50, it may not be long before a recovery begins.
Similarly, SHIB's 30-day has been falling for several days, drawing ever closer to an inevitable rebound rally.
It's entirely arguable that, because SHIB hasn't seen the big gains enjoyed by BTC, ETH and other major coins in the past week, it's due to rally significantly before long.
And there are various fundamental reasons to believe such an assumption, with the beta launch of Shiba Inu's layer-two network, Shibarium, being the most obvious.
It went live on March 11, with the full public launch of the network likely due in the next few months.
Once fully launched, Shibarium will
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