Shiba Inu (SHIB) Price to Spike Over 30% If This Crucial Support Holds

Shiba Inu meme coin is showing signs of a potential breakout, according to respected analyst Ali. If Shiba Inu can maintain the recently established support level at $0.0000103, there could be a potential spike to $0.0000140, representing a rally of over 30% from the support level.

Ali’s technical analysis suggests that the multiple tests of support around $0.0000103 have increased its robustness as a price floor. As long as dips continue to be bought and solid buying volume comes in at that level, it indicates strong momentum to maintain support.

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!🤫

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +

Another factor contributing to the bullish case for Shiba Inu is the accelerated burning of SHIB tokens. Token burns permanently remove coins from circulation, reducing the total supply. With demand remaining strong and supply shrinking, basic economics suggests that prices may rise as a result.

The combination of solid technical support and intensifying token burn momentum has generated enthusiastic interest in Shiba Inu, leading to a nearly 20% increase in prices in the last 30 days.

However, Ali suggests that even greater gains may be on the horizon if the strong support around $0.0000103 is maintained. Holding this floor is crucial to prevent deteriorating momentum and unlock the potential for 30% higher prices. If the technical floor is validated, it could further fuel the excitement around Shiba Inu and potentially lead to a surge in prices. Investors are advised to closely monitor if pivot points are maintained or breached, as this could indicate the arrival of a surge in the near future.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

CaptainAltcoin
Logo