Is it Too Late to Buy Shiba Inu? Crypto Experts Give Their SHIB Price Predictions

cryptonews.com:

The Shiba Inu price has dropped to $0.00001232 in the past 24 hours, representing a fall of 7.5%. On the other hand, it remains up by 1% in a week and by 33% in the last 30 days, with the altcoin riding high due to expectation surrounding the incoming launch of Shiba Inu layer-two network Shibarium.

Given that Shibarium will help the Shiba Inu network become faster and cheaper, many observers and analysts are expecting SHIB to rise substantially following its launch. And while yesterday's news of Kraken's settlement with the SEC suggests that the market may still have a bumpy road ahead of it this year, SHIB is in a good position to post some solid gains as 2023 matures.

SHIB's chart is in an ambiguous position, in that its indicators could go either way right now. Its 30-day moving average (red) has slowed its ascent above its 200-day (blue), and could begin falling again, particularly following today's selloff.

Similarly, SHIB's relative strength index (purple) has dropped to 50 in the past few days. It looks like it could fall further, especially if the $0.000012 support level is breached. 

However, it's arguable that today's losses will be shortlived and that the altcoin will return to growth soon enough. This seems to be the opinion of numerous cryptocurrency analysts and SHIB supporters, who all predict significant gains for the altcoin this year.

Almost needless to say, some SHIB fans are forecasting massive gains. One such target is $0.1, which would entail a massive rise of more than 800,000%.

This is unlikely, given that SHIB has already risen by over 20,000,000% compared to its all-time low of $0.000000000056366, set back in November 2020. However, there's little doubt that the coin will experience some notable