HomeShiba Inu continues its losing trend, is there an end in sight? Sell or buy Shiba Inu

Shiba Inu continues its losing trend, is there an end in sight? Sell or buy Shiba Inu

Daniela Kirova

The live SHIBA INU price today is $0.000033 with a 24-hour trading volume of $1.3 billion. SHIBA INU is down 4.21% in the last 24 hours and currently sits at 13 by market cap. It recorded brief gains after a listing on Kraken, but has since reversed on those. Should you buy Shiba Inu now? We try to answer this question.

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What is Shiba Inu?

Shiba Inu was created in August 2020 under the pseudonym “Ryoshi” and quickly gained speed. The coin’s cute charm attracted a community of investors. Soon, it became known as the Dogecoin killer and even briefly passed it by market cap once. Tweets from personalities like Elon Musk and Vitalik Buterin helped it gain value. Shiba Inu aimed to be the Ethereum-based counterpart to Dogecoin’s Srypt-based mining algorithm.     

Should I buy Shiba Inu today?

Perhaps it might be best to wait. Read the next section for more information.     

Shiba Inu price prediction

According to Crowd Wisdom, the overall recommendation for the next few hours is Sell. None of the 6 momentum indicators are positive, but 4 of them are negative. The price of Shiba Inu Coin is predicted to remain constant in the next few hours, trading between $0.0000316 and $0.0000336. FX Street finds that a breakout from the upper limit could catalyze a 40% ascent to $0.0000543. However, if SHIB produces a lower low below $0.0000328, it will invalidate the bullish thesis.  

Shiba Inu on social media

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