Shiba Inu: Are bulls ready to take charge of a 42% rally?

Vinod Dsouza
Shiba Inu
Source: Unsplash

Shiba Inu had a good run during the Christmas week as the token mostly traded in green and generated profits. However, SHIB dipped today and investors see it as an avenue to buy the dip before the surge. Despite being down, SHIB is holding on to its resistance levels of $0.00003580 indicating that an upsurge is likely on the cards.

SHIB is at a critical stage in its price and needs to breach the $0.00003902 mark for bulls to takeover. The chart shows the meme-currency is nearing its governing technical pattern’s top boundary and is preparing for a breakout in price. It could repeat its November 30 feat as it climbed close to 40% in price.

If SHIB breaches the $0.00003902 mark, bulls would take over and it could see an upward swing of up to 42%. Once Shiba Inu crosses $0.00003902, its next stop could be at $0.00005435. However, after reaching the new weekly highs, SHIB could face hurdles to spike further due to profit bookings.

Nonetheless, if buy orders overtake the sell orders during this period, SHIB’s price could see another surge with bullish aspirations. Also, if the sell orders overtake the buy orders, a reversal in price after reaching its weekly highs is likely to occur.

Shiba Inu is receiving all the bullish support for a breakout in price. The meme-token will be at a different position either this week or next and trade in green if it breaches the $0.00003902 mark. The overall sentiments for SHIB seem optimistic and the bullish sentiments could only derail if there’s an unexpected market crash.

Shiba Inu in 2022

Experts are bullish on 2022 and believe tokens revolving around memes and Metaverse will generate profits. Meme-tokens such as Shiba Inu are getting real-world use-case with blockchain gaming among others. The dog-themed token could be at a different position in terms of price in 2022 with a magnificent price rise.

SHIB has a lot of releases in 2022 which include, blockchain gaming, Shibosis NFTs, ShibaNet, Playside Games partnership, and Shibarium.

The future seems to be bright for Shiba Inu in 2022 and could reward early investors handsomely. At the time of publishing, Shiba Inu was trading at 0.00003667 and is down -4.5% in the 24-hours day trade.