Shiba Inu Price Prediction – Is SHIB About to Surge Again?
Shiba Inu (SHIB) has started the week positively, in line with the broader crypto market. As the crypto asset displays improving fundamentals, what are the chances that its price could be on the upsurge again?
SHIB currently trades at $0.0000104, up 0.97% in the past 24 hours. This price performance is in line with the broader markets, which have seen moderate gains today, up 1.1% overall.
SHIB’s technicals are also quite strong. The token is trading above its major moving average (MA) indicators; its 200-day MA stands at $0.0000103. SHIB’s positive moving average convergence divergence (MACD) indicates a buy signal, and its relative strength index (RSI) also demonstrates that it isn’t overbought.
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One of the biggest catalysts of growth for SHIB at the moment is the Shiba Eternity game. The Web3 play-to-earn gaming platform debuted a few weeks ago and has since risen in the app store rankings.
According to reports, Shiba Eternity has amassed over 100,000 downloads on the Google Play Store. The game has a rating of 4.7 stars from 11,500 reviews, becoming one of the most popular games on the Android app marketplace.
Shiba Eternity proponents believe it could help spur greater adoption of Shiba Inu.
Another major bullish catalyst for SHIB is its continued rising investor demand. Reports suggest that the number of SHIB holders stands at 1,223,516, a 9% increase from the 1,114,483 holders reported in January.
An increase in holders is a bullish signal for most assets. It indicates that the market is still fundamentally healthy and presents a strong case for a significant rally when the bearish sentiment erodes.
With the growth of SHIB’s use cases thanks to Shiba Eternity and other developments, it appears
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