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Shiba Inu coin may be on the rise. Here are the latest predictions

What are the latest Shiba Inu coin predictions?

SHARE Shiba Inu coin may be on the rise. Here are the latest predictions
An illustration that shows a dog catching a coin.

Illustration by Alex Cochran, Deseret News

The Shiba Inu cryptocurrency token may be rising once again, demonstrating a “bullish” trend as its climbs higher and higher in value.

What’s happening with Shib coin?

Shib coin — a meme-based cryptocurrency that is a nod to the Dogecoin crypto token — has risen by 60% in recent weeks since it reached its lowest value ever in July, according to Investing Cube.

  • The price has shown there’s still strong support for the crypto token as there has been a significant movement over 25-day and 50-day periods.

What are Shib coin predictions?

One prediction from Investing Cube suggests that the coin will see another round of resistance when it reaches a value of $0.0000096. But the trend still points upward for the Shib coin.

Shib coin currently has a high entry price for new investors, and there doesn’t seem to be a massive movement for the coin right now, according to FX Street.

  • Though cryptocurrency is rising right now, Shiba Inu coin hasn’t had such a strong rise recently, which has made it challenging for new investors to embrace the meme-based cryptocurrency.

How will Shib coin rise again?

According to Investor Place, the coin could use a boost from some social media hype. Specifically, Tesla CEO Elon Musk — who has previously embraced Dogecoin — could drum up enough support if he were to mention the coin again, per Investor Place.

  • A mention “could easily be enough to swing the prices of these digital assets by double digits in a matter of days,” according to Investor Place.