Shiba Inu (SHIB) Price Soars: Will It Reach $0.00005 in 2023?

• Shiba Inu (SHIB) was launched on the Ethereum blockchain and Binance Smart Chain (BSC).
• SHIB price prediction 2023 is bullish, with a range of $0.00002031 to $0.00003029, and could soon reach $0.00005.
• Bearish SHIB price prediction for 2023 is $0.00000731.

What is Shiba Inu (SHIB)?

Shiba Inu (SHIB) was launched on the Ethereum blockchain and also resides on the Binance Smart Chain (BSC). This popular memecoin was developed and launched in 2020 by a pseudonymous founder Ryoshi. It is called the DOGE killer as Shiba Inu is a potential contender to the largest memecoin, Dogecoin (DOGE). Furthermore, the network is working on launching its new Defi project, Shibarium Financial Ecosystem (SHIBFE), followed by the launch of its native stablecoin project, SHI. SHI is an „algo-stablecoin“ pegged to a dollar.

Shiba Inu(SHIB) Current Market Status

Current Price: $0.00001436
24 – Hour Trading Volume: $1,024,824,598
24 – Hour Price Change: 5.9% up
Circulating Supply: 589,367,448,248,317 All – Time High: $0.00008616 (on Oct 28 2021)

Shiba Inu(SHIB) Price Prediction 2023

Shiba Inu (SHIB) holds the 13th position on CoinGecko right now and has laid out a descending channel pattern which suggests that if it continues it may reach resistance levels of $0.00001567 ,$ 0 . 00001947 , and $ 0 . 00002838 . But if reversed it may fall to support levels of ($ 0 . 00000955 ) and ($ 0 . 00000787 ).

Support & Resistance Levels

The chart below shows support & resistance levels of Shiba Inu(SHIB):

Support Levels – ($ 0 . 00000955 ) & ($ 0 . 00000787 )
Resistance Levels – ($ 0 . 00001567 ),($ 0 . 00001947 ),and ($ 0 . 00002838 ).

Conclusion

In conclusion Shibe Inu’s current market status has had an all-time high of $$O..00008616 in October 2021 with its current price being $$O..00001436 with 24-hour trading volume at $$1 ,024 , 824 , 598 along with 24-hour price change at 5 % up .. As for its price prediction for 2023 one can expect that it may hit or exceed resistance levels of $$O..00001567 ,$$O.. 00001947 ,$$ O .. 00002838 or fall to support levelsof $$ O .. 00000955 & $$ O .. 00000787 depending on how market conditions shift from hereon out