Shiba Inu (SHIB) price prediction for today, October 30—SHIB technical analysis

adminOctober 30, 2024

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Shiba Inu (SHIB) has seen renewed interest in the market following a surge in whale activity, sparking optimism about a potential price rise. With the Memecoin ecosystem still unstable, SHIB’s recent large transaction increase has captured the attention of investors and strengthened confidence in its potential to maintain a positive trajectory.

SHIB Key Statistics

current price: $0.0000190
market capitalization: 11.25 billion dollars
Trading volume (24 hours): $717.8 million
circulating supply: 589.27 trillion SHIB
total supply: 589.52 trillion SHIB
CoinMarketCap Ranking: #12

It is up 5.30% over the past 7 days and has increased slightly by 0.65% over the past 30 days. Looking at 90-day performance, SHIB rose 19.03%, and recorded an impressive 76.45% increase on a year-to-date basis.

SHIBUSD Market

Main level:

resistance: $0.0000195, $0.0000210, $0.0000250
Apply: $0.0000170, $0.0000150, $0.0000140

Shiba Inu (SHIB) price prediction for today, October 30—SHIB technical analysis — SHIBUSD – daily chart

On the daily chart, SHIB/USD appears to be bullish, driven by a breakout of the 20-day simple moving average (SMA). Bollinger Bands, a volatility indicator, are showing gradual expansion, which usually signals a potential price breakout. SHIB is currently trading near the upper Bollinger Band, suggesting strong upward pressure. However, if SHIB is rejected at this level, consolidation around the midline of the band (20-day SMA) can be expected.

SHIBUSD’s Relative Strength Index (RSI) is around 62, reflecting moderate buying pressure but not yet overbought. This RSI level often indicates that there is room for further upside before significant resistance is encountered due to oversold conditions. Increasing buying volume may allow SHIB to move beyond the immediate resistance of $0.0000195 and target the next targets of $0.0000210 and $0.0000250. Conversely, a return to the lower Bollinger Band near the $0.0000170 support line could present a regrouping opportunity.

Whale activity increases confidence in SHIB

Interest in Shiba Inus has recently increased as whale trade soared from SHIB 895 billion on October 27 to SHIB 3.73 trillion on October 28. This surge, combined with 170 whale trades within 24 hours, highlights the growing confidence of large investors. Whale activity in Memecoin often indicates strong market interest as large transactions can provide stability or even trigger price increases.

Shiba Inu’s popularity is growing

The notable achievement of SHIB surpassing Avalanche (AVAX) in market capitalization to become the 12th largest digital asset further solidifies its influence in the cryptocurrency space. As investor sentiment builds around SHIB, this could set the stage for continued momentum and optimism in the near term.

SHIBBTC Performance Insights

In the SHIBBTC pair, whose current price is 0.000000000263 BTC, the Bollinger Bands usually show an interesting tightening pattern preceding a breakout. SHIB is trading near the upper Bollinger Band, suggesting a bullish bias. SHIBBTC’s immediate resistance is at 0.000000000269 BTC and its immediate support level is at 0.000000000249 BTC. If SHIBBTC can break above the 0.000000000269 BTC resistance, it could experience a significant surge against Bitcoin and attract additional interest for SHIB from the broader cryptocurrency market.

In a recent X post on @MEME.nto, Shiba Inu revealed an exciting Shibarium upgrade designed to improve the experience of the Shiboshi NFT community. This update delivers exclusive utility enhancements that could potentially impact SHIB’s market performance, adding a new layer of functionality and increasing appeal to the ecosystem. Enthusiasts are wondering what impact this will have on SHIB’s future journey.

Shiba Inu unveils Shibarium upgrades for the Shiboshi NFT community! 🚀🔥 Don’t miss out on this exclusive utility boost. #Cryptocurrency #Cryptocurrency #CryptoNews #SHIB #Shibarium.
— MEME.nto (@MEME_nto_crypto) October 29, 2024

Alternatives to Shiba Inu

Shiba Inu (SHIB) is a meme coin supported by an active community and expanding ecosystem, including governance features through the ShibaSwap DEX and BONE. We aim to enhance utility through Shibarium Layer-2 blockchain supporting decentralized applications, NFTs, and Metaverse initiatives. Likewise, emerging meme coin project Pepe Unchained ($PEPU) is poised to capitalize on the growing momentum in the blockchain sector.

Pepe Unchained recently celebrated impressive pre-sale performance, raising over $23.3 million, highlighting the strong confidence investors have in the project. This significant funding milestone not only highlights the enthusiasm surrounding $PEPU, but also positions $PEPU as a strong contender in the meme coin market. The $PEPU token operates on its own layer 2 blockchain, designed to free PEPE from the limitations of the outdated Ethereum blockchain.

Unlock the potential of Pepe Unchained: Pre-sale jewel

This new infrastructure promises to deliver transaction speeds up to 100 times faster than Ethereum and significantly reduce gas fees, making it an attractive option for users and developers alike. Focusing on improving performance and reducing costs can significantly contribute to a project’s growth and adoption in the highly competitive cryptocurrency environment. The future of $PEPU looks promising.

Visit Pepe Unchained.