Shiba Inu Price Prediction as SHIB Sees $1 Billion Trading Volume Kick In

Shiba Inu Price Prediction as SHIB Sees $1 Billion Trading Volume Kick In

Shiba Inu price prediction remains bullish above $0.0000116 as it has increased by more than 1.5% in the last 24 hours and more than 20% in the previous seven days to trade at $0.000012. 

The majority of the bullish bias has been triggered by a surge in Shiba Inu trading volume exceeding $1 billion.

SHIB Mysterious Tweets and SHIB Army

On October 29, Shiba Inu’s official Twitter account released another teaser featuring the SHIB army. This time, it tweeted “Shib is…” and invited the community to share their thoughts on what the SHIB token meant to them.

Commentators reacted enthusiastically, using terms like “Dog killer,” “hope,” and “the best cryptocurrency.”

The Shiba Inu account on Twitter frequently posts hints about the Metaverse or updates on the SHIB ecosystem.

In a similar teaser, the official Shib account tweeted, “Ryoshi is…” Shiba Inu’s unknown creator decided to emulate Satoshi Nakamoto, the person who created Bitcoin, by following in his footsteps.

Ryoshi deleted all of his social media posts and vanished, claiming Shiba was more important than him. The SHIB army’s confidence could be one of the reasons for the SHIB/USD price increase.

Furthermore, according to CryptoDep data, SHIB received nearly 13 million social mentions on Twitter on October 25, including upvotes and retweets from followers. Dogecoin (DOGE), a competitor meme coin, received 18.2 million social media mentions.

The DOGE Army controls only 1.33% of the social media market, while the SHIB Army controls 2%. As a result, it demonstrates that the SHIB Army is more powerful than its DOGE counterpart.

SHIB Might Be Following DOGE’s Lead

Shiba Inu (SHIB) may follow in the footsteps of Dogecoin (DOGE), which had a very successful week following Elon Musk’s acquisition of Twitter, according to recent Santiment information. Santiment asserted that SHIB had previously used DOGE’s pumps. This conclusion is supported by the fact that SHIB’s price increased by 19% in the seven days following DOGE’s jump. 

Furthermore, the volume of DOGE and SHIB has increased over the last few days. Another indicator of potential SHIB growth is the increase in new addresses transferring SHIB into the cryptocurrency network for the first time. It could imply that interest in meme currency has recently increased. 

SHIB is also benefiting from recent WhaleStats data

According to the whale monitoring website, the top 2000 ETH whales traded SHIB, one of the most popular coins, on October 28. Furthermore, the top 5000 ETH whales currently own SHIB, which is worth around $94 million.

SHIB Burn Rate Rises

During the last week, Shibburn reported that 14,896,832 SHIB tokens were burned. The Visa SB card is being developed by the developer team of the popular dog cryptocurrency, which is rapidly gaining popularity. 

Shiba Inu Burn Rate – Source: Shibburn

It will make it easier for SHIB holders to make payments in the currency wherever VISA is accepted. Every time a transaction is completed, a certain number of SHIB tokens are also burned. 

Many cryptocurrency influencers believe that the SHIB burn rate will eventually trigger another bull run leg. When Shibarium becomes available, a sizable portion of the SHIB Army may become even more motivated to burn the dog cryptocurrency. 

Shiba Inu Price Prediction 

The current Shiba Inu price is $0.000012, and the 24-hour trading volume is $1 billion. The SHIB/USD pair opened the day at $0.0000119 on October 31 and reached a high of $0.0000124 and a low of $0.00001172. 

Shiba Inu has increased by over 1% in the last 24 hours. With a live market cap of $6 billion CoinMarketCap currently ranks 13th. 

Shiba Inu Price & Tokenomics – Source: coinmarketcap

Shiba Inu’s upside potential remains strong, with a target of $0.000014 as an immediate target, and a break above this can extend the uptrend to $0.000017. Meanwhile, support is still at $0.000012.

Shiba Inu Price Chart – Source: Tradingview

Because the RSI and MACD are both in the buy zone, investors should look to buy $0.000012 or more today.

A break below $0.000012, on the other hand, may expose Shiba Inu to the $0.000010 or $0.0000095 levels.

Top Coin Alternative – Dash 2 Trade 

The Dash 2 Trade presale has already raised more than $3.6 million in less than two weeks. This sum indicates the great appreciation for the Ethereum-based trade intelligence platform.

The platform, which is set to start in the first quarter of 2023, will give real-time analytics and social data to investors.

In less than two weeks, the presale stage 2 raised $3,669,015 out of a total of $5,166,000 at a rate of 1 D2T = 0.05 USDT.

Visit Dash 2 Trade now

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Originally Posted on: https://cryptonews.com/news/shiba-inu-price-prediction-as-shib-sees-1-billion-trading-volume-kick.htm
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