Shiba Inu (SHIB) has been oscillating up and down since the market crash. Currently, the volatility of the cryptocurrency has declined and the price movements has turned indecisive. At the time of writing, Shiba Inu is standing at a price level of $0.0000078. The price and the trading volume have increased by only 2% in the past twenty-four hours.

Shiba Inu (SHIB) technical analysis

The market outlook for cryptocurrency is bearish. Out of the total twenty-six technical indicators, nine are giving out a sell indication while nine are standing at a neutral position and four are bullish. The oscillators are neutral while the moving averages are strongly bearish. However, the bearish trend in the market may soon be reversed.

Shiba Inu (SHIB) has been identified to be forming an inverse head and shoulder pattern. The cryptocurrency has almost completed the formation and it is under the development of right shoulder. If the price of the cryptocurrency breaks the neckline, the H&S formation will be validated and, hence, the bullish momentum in the market. The confirmation of the bullish divergence in the market will lead to the activation of various price targets.

Shiba Inu (SHIB) price prediction

Shiba Inu (SHIB) has bullish price predictions in the future as it is considered one of the best projects in the meme coin category. The meme coins are led by Dogecoin and Shiba Inu has been regarded as strong competition to Dogecoin. According to the estimates of Digital Coin Price, Shiba Inu will end the year with a price level of $0.000012. By the end of 2028, Shiba Inu will be valued at $0.000039. Wallet Investor is more bullish on cryptocurrency. The estimates of Wallet Investor place the cryptocurrency at a price level of $0.000021 and the five-year forecast $0.000072.