Shiba Inu Skyrockets! Can it Pump Your Profits 100x Before 2023 Ends?

If buyers play their cards right, investors can expect Shiba Inu to reach $0.0000189

Shiba Inu skyrockets as it is hovering above a stable support level, indicating that the recent SHIB price surge was no fluke. Shiba Inu price rallied 64% after retesting the $0.0000082 to $0.0000093 imbalance and set a swing high at $0.00000151. This move faced heavy profit-taking, resulting in the daily candlestick closing 15% lower at $0.00000129. Regardless of the sell-off, Shiba Inu seems to be holding above the $0.0000118 support level. Shiba Inu has emerged as one of the world's most popular cryptocurrencies. SHIB's low price and wide availability have attracted many investors to the dog-themed meme coin to try their luck in making a quick buck from the token's rise and fall.

However, Shiba Inu's status as a long-term investment has always been questioned. The token is widely considered a meme coin with near-zero utility and is seen by many as nothing more than a speculative asset. As such, Shiba Inu long-term price predictions are few and far between.

This lingering action indicates that buyers are defending the level and is likely to induce Shiba Inu price into another rally, provided the market conditions are right. In such a case, the most obvious target is the equal highs at $0.0000189, roughly 39% away from the current position.

Beyond this, Shiba Inu price will face two significant resistance levels – $0.0000199 and $0.0000211, both of which are ideal levels to book profits.

While things are looking up for Shiba Inu, a breakdown of the immediate support level at $0.0000118 will be the first sign of weakness. This development should trigger doubt among buyers but a daily candlestick close below $0.0000103 will create a lower low and invalidate the bullish thesis. Such a situation could further catalyze Shiba Inu price to slide 18% lower and retest the lower limit of the aforementioned imbalance at $0.0000082. After its 1000% gains in the last months of 2021, a lot of investors are now wondering, can Shiba Inu cryptocurrency get to $1 in 2023? Well, while this may seem like a bit of a stretch, this is crypto and anything is possible.

The truth is, no one can say with certainty that SHIB to reach US$1. This is a crypto that is up by 1,294,881.3% since it was launched. In 2020, no one would have imagined that an investment of $100 in Shiba Inu (SHIB) would turn into millions of dollars a little over a year later. If the coin pulls a similar move in 2023, it is possible for SHIB to reach US$1 by the end of 2023.

Shiba Inu price prediction for 2030 and beyond

Despite the negative long-term prognosis from critics for the project development, many analysts remain optimistic, holding a bullish outlook for the token.

According to TechNewsLeader's Shiba Inu coin price prediction for 2030, the token is expected to rise to an average price of about $0.00029591 by the end of 2030, representing an increase of over 2,500% at the time of writing.

CoinPriceForecast was equally bullish in its SHIB price prediction for 2030 and had expectations of the token trading at about $0.00003252 by the end of that year, representing a 190% increase.