Shiba Inu Price Prediction: SHIB meme coin trading within strong bullish trendline

Shiba Inu price prediction
Shiba Inu price prediction

Shiba Inu price prediction Summary

  • Today’s Shiba Inu price analysis is favorable.
  • SHIB/USD continues pushing higher.
  • Previous swing high at $0.000015 broken.

The Shiba Inu price is trading higher today. This was after a new several-month high was established after a strong push began earlier today. As a result, we believe SHIB/USD will continue to rise. The trendline targets the $0.000020 level in the near future.

The cryptocurrency market has been moving in a largely bullish direction over the past 24 hours. Bitcoin increased by 5.73 percent, while Ethereum rose by 4.01 percent, with Shiba Inu continuing to dominate the market with a gain of more than 65%.

The Shiba Inu coin’s price appears to be bottoming out after trading as low as $0.00001614 earlier today, May 14th. After opening at $0.00000966, the cryptocurrency’s price moved to a range of $0.00001614 and back down again before settling at around $0.000016

SHIB/USD 4-hour chart: SHIBA targets $0.000020 next?

Following the recent drop to $0.0000125, Shiba Inu’s price has resumed its ascent on the 4-hour chart. Therefore establishing a new high at $0.0060480 after retesting yesterday’s low of $0.0050400.

Shiba Inu price prediction
SHIB/USD 4-hour chart. Source: TradingView

The market remained stagnant at the end of September, as bulls built up momentum for another leg up. Support was discovered around $0.0000066, with resistance near $0.0000075.

SHIB/USD slowly climbed throughout the last month of September, with bullish momentum gradually increasing over the first few days of October. Yesterday, Shiba Inu prices broke through the previous major swing high of $0.0000095, with more upside ahead until $0.000015 is reached.

However, only a few hours later, the $0.0000125 mark was tested as a support and reversed the market higher once again. Following that, there was another boost today, with the $0.000017 mark already broken.

Overall, Shiba Inu’s price development should lead the market significantly higher today, with the $0.000020 major price mark in sight next.

Shiba Inu Price Prediction Final Remarks: Conclusion 

After a test of the $0.0000125 mark as support this morning, Shiba Inu price prediction is bullish once again, with bulls regaining control of the market momentum after slipping below the $0.0000125 threshold. Since then, SHIB/USD has continued to climb and has already broken through the $0.000017 barrier.