Should You Buy SHIB if Shiba Inu Price Can Rally 500% Before April?
As the investors keep a close watch, Shiba Inu (SHIB) price has become a focal point amidst the ongoing market corrections. The SHIB is hovering above $0.000012 support level, has sparked speculation about a potential 500% surge by April. However, its future remains uncertain. In this article, lets us uncover the factors that might drive a potential rally in the Shiba Inu price. Should You Buy the SHIB as Shiba Inu Price Has a 500% Surge Potential Before April? The price of Shiba Inu attracts market focus since many analysts predict it will reach new heights of 500% before this April. The market value of SHIB could exceed $0.000076 if such a price increase takes effect. The price surge has uncertainties and risks that investors must consider carefully. The price performance of SHIB together with other meme coins mainly depends on societal market sentiment. Its price increases unpredictably because of speculative activity. The price of SHIB could potentially increase by 500% but negative market sentiment might force a rapid decrease in value. Additionally, broader crypto market conditions can play a significant role in SHIB’s price action. If major cryptocurrencies like the BTC price or ETH experience price rallies, altcoins like SHIB often follow suit. Changes in the SHIB burn rate at 27% combined with other factors can affect its market price. During the previous day more than 16 million SHIB tokens got destroyed through burning. Source- ShibaburnThe combination of Shiba Inu ecosystem components like ShibaSwap and Shibarium would drive market growth while Ethereum meme coins BONK and FLOKI experiencing price appreciation contribute to the surge. Shiba Inu Price Analysis The latest SHIB price is hovering at $0.00001269, showing a decrease of 4% over the last 24 hours. As of now, the SHIB price is fluctuating within a defined range, with strong support at $0.000012 and resistance at $0.000013. The current price action suggests that the asset is testing these key levels. The MACD shows some bullish momentum, with the blue line above the orange line signaling potential upward movement. However, the histogram is relatively neutral, indicating that momentum is not yet fully established. The Relative Strength Index (RSI) stands at 44, which is in the neutral zone. This suggests that SHIB is currently under no overbought or oversold pressure. A break above the resistance could propel the Shiba Inu price forecast toward $0.000015, while a decline below the support could see SHIB testing the lower level of $0.000012. Shiba Inu Price Chart: TradingViewThe recent trend in Shiba Inu saw early holders accumulate over 20% of the total supply at lower prices. As these holders sold at key price peaks, sharp corrections followed, creating volatility in the market. This mass exit of early investors highlights how concentrated ownership can lead to amplified price fluctuations. Frequently Asked Questions (FAQs) It’s possible, but speculative. Market conditions and sentiment play a significant role. A higher burn rate can reduce supply, potentially boosting value. Yes, SHIB’s price can be affected by trends in other meme coins like DOGE and FLOKI. Anna Annah enjoys writing about cryptocurrency and blockchain technology. With More than 5 years of experience. For years she has followed their development and now believes these technologies could potentially revolutionize many industries. She has specialized in technical analysis to help cryptocurrency traders make more informed decisions. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.