Shiba

Dogecoin

Shiba Inu

Rise

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-price-may-rise-fourfold-following-dogecoin-trends/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba Inu Price May Rise Fourfold Following Dogecoin Trends</a><br></p>
<p style="text-align: justify">The price of <a href="https://en.coin-turk.com/shiba-inu-price-turns-green-as-expectations-rise-ahead-of-shibarium-launch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba</a> Inu (SHIB) is projected to quadruple, following the trajectory of Dogecoin . This speculation is bolstered by a remarkable 7,000% accumulation of SHIB by large investors in the past week. The growing interest from significant investors is interpreted as a positive signal for SHIB’s future value appreciation.</p>
<h2 style="text-align: justify" id="whale-accumulation-increases">Whale Accumulation Increases</h2>
<p style="text-align: justify">Currently, SHIB’s price is trading around $0.00001880, reflecting a 0.6% decrease in the last 24 hours. This decline mirrors the price movements observed in Dogecoin. During this election period, SHIB’s price had remained steady, but recent heavy buying by large investors has drawn attention, indicating the potential for a price increase.</p>
<h2 style="text-align: justify" id="technical-indicators">Technical Indicators</h2>
<p style="text-align: justify">According to IntoTheBlock data, large investors have accumulated SHIB by 7.469% in the past week. Although the monthly NetFlow remains 3,000% lower than last month, the weekly accumulation reveals a shift in trend. The increase in high-volume trades indicates growing investor interest.</p>
<h2 style="text-align: justify" id="market-expectations">Market Expectations</h2>
<p style="text-align: justify">Crypto analyst Javon Marks predicts that SHIB’s price could reach $0.000081. According to Marks, SHIB’s Relative Strength Index (RSI) indicates a descending bullish formation on the daily chart. If this assessment is validated, a fourfold price increase for SHIB is anticipated.</p>
<h2 style="text-align: justify" id="indicators-and-signs-of-upward-movement">Indicators and Signs of Upward Movement</h2>
<p style="text-align: justify">The Average Directional Index (ADX) currently stands at 16.46, suggesting potential volatility increase. This situation hints at renewed buying pressure for SHIB. Additionally, the MACD indicator shows bullish signals, while the RSI is at 56.96, indicating a chance for upward movement before hitting overbought territory.</p>
<p style="text-align: justify">However, it is crucial to remember that the <a href="https://en.coin-turk.com/the-current-state-of-crypto-markets-bitcoin-and-altcoins-analysis/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/crypto-trading-volume-hits-record-highs-in-march/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> market is prone to rapid fluctuations. Investors should always conduct their own research before making decisions.</p>
<p>The post <a href="https://en.coin-turk.com/shiba-inu-price-may-rise-fourfold-following-dogecoin-trends/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Shiba Inu Price May Rise Fourfold Following Dogecoin Trends</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Shiba Inu Price May Rise Fourfold Following Dogecoin Trends

Table of Contents

COINTURK NEWS

Other articles published on Nov 7, 2024

Altcoin Season Nears as Non-Bitcoin Cryptos Begin to Outperform BTC

Ethereum (ETH) Price Surges 10% to Three-Month High

Robinhood, Kraken, and Other Crypto Firms Launch Global Stablecoin Network

Why This New Solana-Based Memecoin Could Skyrocket, Outshining Dogecoin and Shiba Inu

Bitcoin can go ‘parabolic’ with BTC price weekly close above $71.5K — Analysis

Top 3 Solana Rivals Under $0.05 Primed for 100x Growth by 2025

Join our free newsletter for daily crypto updates!