Shiba Inu Price Prediction as Four Major Updates Teased – Can SHIB Reach $10?

cryptonews.com:

The Shiba Inu price has risen by 1.5% in the past 24 hours, with its move to $0.00000831 coming as the wider crypto market posts a 2.5% gain today.

SHIB has now risen by 4% in a week and by 3.5% in the last 30 days, although the meme token has risen by only 2.5% since the beginning of the year.

This gain pales in comparison with the year-to-date returns posted by other major tokens (e.g. BTC, ETH, XRP, SOL), yet this year has seen Shiba Inu introduce a number of important new updates, thereby strengthening its fundamentals in preparation for future gains.

And with lead developer Shytoshi Kusama outlining four future updates, 2024 could end up being a very big year for SHIB.

SHIB’s indicator currently find themselves in an uncertain position, consistent with either further gains or further falls.

Its RSI (purple) dropped to 50 over a week ago, and despite a slight increase in previous days looks like it’s stuck at the same middling level.

This could mean that it lacks the momentum to mount further gains anytime soon, as could its 30-day average (yellow), which is struggling to rise beyond its 200-day (blue).

It could also be significant that its support level (green) took a serious dive on November 21, implying that it may not be resilient against any further slips.

SHIB’s fortunes are likely to rest on the trajectory of the wider market, which could rise in the next few weeks, particularly if the SEC approves a Bitcoin ETF.

Yet this doesn’t mean that the Shiba Inu price won’t rise steadily in the more distant future, with the coin welcoming various key launches this year, including that for Shibarium and for its own name service.