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Shiba Inu Price Prediction as SHIB Becomes Top 20 Crypto in the World – $1 SHIB Incoming?

today 10/18/2023
The price of Shiba Inu (SHIB) has experienced a 2% decrease in the last 24 hours, reaching $0.00000690. The overall cryptocurrency market has remained relatively stable during this time. Despite this recent drop, SHIB has seen a 1% increase over the past week. However, it has faced a decline of 5.5% in the last 30 days and 15% since the beginning of the year. While many major tokens have seen growth since January, SHIB remains the 19th largest coin by market cap. The oversold nature of SHIB suggests that it may experience a significant rebound. Currently, SHIB's indicators indicate a negative trend, with no signs of a strong recovery. The 30-day exponential moving average of SHIB has consistently remained below its 200-day average for several months, indicating a struggle for the coin to rise. Additionally, the relative strength index of SHIB has remained below 50 since mid-August, further indicating a lack of improvement. The sinking support level of SHIB also suggests a long-term decline. On one hand, these indicators suggest a lack of interest in SHIB and a slow return. On the other hand, it presents an opportunity to buy SHIB at a discounted price. Compared to other meme tokens, SHIB has stronger fundamentals, as demonstrated by the launch of the Shibarium layer-two network. The recent increase in transactions on Shibarium suggests potential growth for Shiba Inu in the future. The upcoming launch of SHIB: The Metaverse is also expected to attract users and adoption, ultimately impacting the price positively. Despite a lack of updates from SHIB: The Metaverse, recent discussions in Dubai indicate progress. It is expected that SHIB will return to $0.0000080 in the coming weeks and potentially rise to $0.000010 by next year. While SHIB is a promising meme token, there are other high-potential coins in this category. Meme Kombat (MK) is an Ethereum-based platform that allows users to bet on the outcomes of AI-generated meme battles. This unique concept has attracted significant interest, and the use of popular memes will further market the platform. MK will have a hard cap of 120 million tokens, with a portion allocated to the presale and battle and staking rewards. The presale of MK is currently ongoing, and interested investors can participate on Meme Kombat's official website. It is important to note that investing in cryptocurrency is high-risk, and this article should not be considered investment advice.
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