Shiba Inu Price Prediction: SHIB Soars 23% As Market Panic Eases And The SHIBASHOOT ICO Rockets Towards $1 Million
The Shiba Inu price surged 23% in the last 24 hours to trade at $0.00001383 as of 03:20 a.m. EST on trading volume that soared 19% to $775 million. The SHIB bounce comes as the crypto market rebounds from a market crash that was triggered by interest rate concerns, worries over a recession in the US, and rising geopolitical tensions centered on the Middle East. But that seems largely forgotten today as the meme coin sector’s market cap soars 15% to $37 billion. Shiba Inu Price On A Sustained Bullish Trend Reversal The recent market decline saw the Shiba Inu price shed 31% from the beginning of August to as low as $0.0000113 yesterday, according to data from GeckoTerminal . SHIB has been dropping within the falling channel pattern. Despite the recent drop below the channel, the price of Shiba Inu has rebounded from below the lower boundary of the channel to trade slightly above the upper boundary. The surge has now pushed SHIB above the 50-day Simple Moving Average (SMA) level at