As many assets in the cryptocurrency sector begin to somewhat consolidate their gains from earlier this week, Shiba Inu (SHIB) is no exception, but the crypto asset inspired by the popular doge meme could hit the price of $0.055 in the next 16 years, according to a recent prediction.
Indeed, Shiba Inu has slowed down its price advances in recent days, but its advance of nearly 150% since the year’s turn, the market capitalization of over $15 billion, and its climb in the crypto ranks speak volumes of the asset’s strength and further potential.
Shiba Inu price prediction. Source: Telegaon
On the other hand, one platform’s advanced artificial intelligence (AI) algorithms are not as bullish in terms of SHIB price by 2040, albeit they do envision significant improvement that would send Shiba Inu to $0.000289 by the end of that year, suggesting an increase of 1,028.02% from its current price on May 23.
Shiba Inu price analysis
For now, SHIB is changing hands at the price of $0.00002562, recording a 0.57% drop in the last 24 hours, advancing 2.90% across the previous seven days, and losing 6.64% on its monthly chart, with the strongest support level resting at $0.00002321 and facing firm resistance at $0.00002782.
Shiba Inu price 7-day chart. Source: Finbold
Based on technical analysis (TA) indicators, SHIB’s present price is both above its 200-day simple moving average (SMA) of $0.00001625 and the 50-day SMA of $0.00002476 – with both being bullish signs that suggests the strong possibility of more price increases in the near future.
At the same time, however, the 14-day relative strength index (RSI) of the currently 12th-largest asset in the crypto sector by market capitalization is hanging in the neutral zone at 52.06, as it is pointing neither toward the oversold/undervalued (below 30) nor overbought/overvalued (above 70) position.
All things considered, 16 years is a long time, and SHIB might actually meet the expectation of hitting (or even surpassing) the price threshold of 5.5 cents. However, it is challenging to make any definite SHIB price predictions as the situation in this sector can change.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
