SHIB Holders Still Optimistic Of 3000% Rally but Experts Feel It's Unlikely to Outperform Rollblock, ICP Erases Gains

The crypto markets have seen huge fluctuations this year. Just when everyone was expecting a bull run, the bears suddenly emerged out of nowhere and took Internet Computer (ICP) with them. Despite this sudden shift, Shiba Inu (SHIB) and Rollblock (RBLK) investors are still positive about future growth.

Shiba Inu (SHIB) investors are still optimistic about the future despite the token’s recent struggles. After rising by an incredible 3000% in 2023, SHIB price has stalled and is now facing resistance at $0.00004. However, investors are hoping that the upcoming launch of the Shibarium Layer-2 network will reignite the rally and propel SHIB price to new all-time highs.

According to recent data, Shiba Inu is now the 13th most valuable cryptocurrency with a market cap of $22.3 billion. Despite the token’s recent poor performance, SHIB investors are still upbeat and believe that the worst is now over.

Shiba Inu Price Analysis

SHIB price is currently trading at $0.000039 after rising by 0.6% in the past 24 hours. However, the token has slipped by 34.73% over the past 7 days, which suggests that the bears are still in control of the market.

On the upside, SHIB price faces immediate resistance at $0.00004 and then at $0.000042. If the bulls can clear this resistance, then SHIB price could rally towards $0.000045 and then $0.000048.

On the downside, support for SHIB price is located at $0.000037 and then at $0.000035. If the bears can push SHIB price below this support, then the token could fall towards $0.000032 and then $0.000030.

The technical indicators for SHIB price are bearish, with the Relative Strength Index (RSI) at 45.4 and the Moving Average Convergence Divergence (MACD) line below the signal line. However, the Stochastic oscillator is bullish, with the %K line above the %D line.

Overall, the technical analysis for SHIB price is bearish, with the token showing signs of weakness after failing to clear resistance at $0.000045. However, the bulls are still attempting to keep SHIB price above support at $0.000037, which could prevent the token from falling further.

Shiba Inu Price Prediction: SHIB Investors Still Hoping for 3000% Rally After Token Fails to Outperform ICP, Rollblock (RBLK) Price Surges by 450% in 7 Days, Surpassing Shiba Inu’s Gains

SHIB price has slipped by 34.73% over the past 7 days, which is significantly worse than the performance of other major cryptocurrencies. For example, Bitcoin (BTC) price has risen by 6.36%, Ethereum (ETH) price has increased by 4.88%, and Dogecoin (DOGE) price has surged by 21.33%.

Even meme coins, such as Floki Inu (FLOKI) price, have outperformed SHIB with gains of 106.04%. This poor performance by SHIB has left investors frustrated and wondering what went wrong.

One possible explanation for SHIB’s poor performance is that the token has already risen by a huge amount in 2023 and is now due a correction. Another possibility is that investors are rotating their資金 out of SHIB and into other, more promising cryptocurrencies.

Despite SHIB’s recent struggles, investors are still optimistic about the future and believe that the token could still reach $0.0001 in 2023. If SHIB price were to reach this level, then it would represent an increase of 3000% from the current price.

However, it is important to note that this is just a prediction and there is no guarantee that SHIB price will actually reach this level. Investing in cryptocurrencies is always risky and investors should only put in what they can afford to lose.

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