For a long time, Shiba Inu remained on a strong support level. Now, however, it may reach $0 soon. While a crypto winter rages through the market, Shiba Inu is seeing an impressive bullish trend that will give it an edge over competing cryptos in the next couple of weeks.
The coin is at its resistance level of $0.0000227, which it’s using as support to move upwards. Last year, the cryptocurrency emerged as a winner after starting 2021 at $0.000000000073 and ending at $0.000033, showing a whopping increase of 45,000,000 percent.
SHIB Investors See Light at the End of the Tunnel
Since SHIB prices reached an all-time high in October, they fell by 63 percent. Despite Shiba Inu losing its spot on the list of top 10 cryptocurrencies to Dogecoin, its huge fanbase continued to harbor support for the ‘Dogecoin killer.’
Luckily, crypto investors who held onto their SHIB tokens in hope of an upcoming bull run are seeing a positive change in the trend. SHIB’s flip from its resistance point is likely to reach a dissenting triangle, upon which it can encounter rejection.
Nevertheless, experts predict that SHIB will easily surpass rejection and do great for the next few months.
SHIB Proponents Predict a Major Bull Run
Based on reports by FXStreet, the price for Shiba Inu established three swing lows on a crucial support level. This led to a trend reversal, which could cause a bull run.
Despite the entire crypto market looking bleak and prices of top-ranking tokens constantly declining, Shiba Inu managed to gain a 75 percent growth over the last two months.
Now, the memecoin is changing its resistance level to a support one, leading up to a triple bottom. Such a reversal pattern can cause the price to hop onto a significant bull rally.
Now, crypto analysts are wondering where the price will go from here. Various graphs show that the Dogecoin killer token can reach $0.0000283 now, which will be a peak for the coin.
Even so, much of its growth will depend on its devoted SHIB army and crypto investors. If the impending bull run leads to a Fear of Missing out, Shiba Inu could reach approximately $0.0000326 within a couple of weeks.
As of now, Shiba Inu proponents can expect to see about 50 percent of growth.
Numerous Factors Could Lead to Shiba Inu Growth
Factors like easy use and rate of adoption have an impact on a token’s growth. To start off, easy access should be the first consideration for Shiba Inu.
Additionally, inclusion on major platforms, such as Robinhood, as well as increased listings on crypto exchanges could make Shiba Inu a highly competitive token.
Last year, SHIB prices surged after it was listed on OkEx and Binance, which had a domino effect and led to a listing on Coinbase.