Shiba Inu (SHIB) has commanded considerable attention within the cryptocurrency space spurred by its distinctive meme coin popularity and potential for growth. 

On August 15, the expertise of cryptocurrency market analyst Michael van de Poppe has recently cast a revealing light on SHIB’s trajectory, underscoring the significance of maintaining specific support thresholds for a favorable outcome.

The expert’s insights underscored the criticality of SHIB’s adherence to support levels in realizing its ascent towards $0.000013. 

“As long as SHIB holds a few levels, it seems very likely we’ll continue towards 1300.”

SHIB price analysis

As of August 16, SHIB was transacting at $0.000009886, marking a single-day descent of 4.03% and a marginal weekly contraction of 0.15%. If the token hits $0.000013, it would mark a 31.4% price climb from its current value.

SHIB 1-day price analysis. Source: Finbold

Noteworthy is the token’s support base, anchored at $0.00000917, which serves as a steadfast pillar safeguarding its valuation.

 Concurrently, Finbold notes that SHIB still faces the resistance ceiling at $0.00001, which it would need to turn into support if it is to test Poppe’s $0.000013 projected level.

Amidst these short-term oscillations, Shiba Inu commands a robust total market capitalization of $5.8 billion.

Shibarium upgrade latest

24 hours after the principal developer Shytoshi Kusama gave his brief presentation at the fifth annual Blockchain Futurist Conference in Toronto. 

The presentation that Shytoshi Kusama was going to give was eagerly anticipated by the Shiba Inu army since the main developer had already dropped hints that the Layer 2 solution for Shiba Inu, which is going to be dubbed Shibarium, would most likely be released at the conference.

If anything like that were to take place, the launch date would be today, August 16. However, Lucie, the official marketing expert of the SHIB team, indicated in the past that the developers had not established any specific date for the release of the game, despite the fact that they were extremely close to finishing it.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Shiba Inu price prediction as expert forecasts 30% SHIB rally appeared first on Finbold.

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Dennis is a business and financial writer, who had spent almost his entire life independently reporting on different business ventures with major impact on the US and global economy. Dennis places a special focus on examining tech stocks, biotech stocks all while investing a great part of his early hours to researching and writing on the companies in the US markets. Dennis has 15+ years of experience in financial markets.