Shiba Inu Price Prediction - How Momentum Investors Can Propel This Meme Coin Back to $0.000014
The Shiba Inu price has risen by 3% in the past 24 hours, reaching $0.00000907 as the wider cryptocurrency market enjoys a long overdue rally. Its current level marks a healthy 10% increase in a week, although the meme token is still 1.5% down in the last 30 days, as well as 90% lower than its all-time high of $0.00008616 (set in October 2021).
However, with SHIB finally seeing some positive action after months of selling, there's now a good chance that its newfound momentum can help draw in more investors, who in turn can push it even higher. And with Shiba Inu still looking forward to the layer-two Shibarium Network and its own metaverse, its native token almost certainly has big rallies on the horizon this year.
SHIB's chart reveals the sudden arrival of some serious upwards momentum. Its relative strength index (purple) has risen from below 40 to nearly 70 in the past few days, signalling some strong upwards buying pressure.
While SHIB's 30-day moving average (red) hasn't begun rising yet, the fact that it has languished below its 200-day (blue) for so long indicates that it's due a big rally soon. This also seems to be the consensus among big investors, with one whale reportedly transferring 3.3 trillion SHIB from one wallet to another, potentially in advance of dumping them on the market amid a pump.
A rally is expected largely because of the imminent launch of the Shibarium Network, a layer-two solution for Shiba Inu that's due to launch its beta in the coming weeks, although the team hasn't given a precise launch date yet.
Given that Shiba Inu is based on Ethereum, the launch of its own layer-two solution will make it cheaper and faster to use. In turn, this should boost adoption of the cryptocurrency, something which
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