Shiba Inu cryptocurrency may soon experience a break-out and surge ahead from its current position as the market is seeing bullish sentiments after Elon Musk appeared in the 'B Word Conference' along with Twitter CEO Jack Dorsey.
At the conference, the Tesla CEO gave investors confidence saying: ''I might pump but I don't dump.'' He also sent out a message that he's in the market for the long term and would stand by fellow investors during all the ups and downs.
The crypto market magically appeared in green since Thursday after trading in red for more than two months. Several coins had slipped to extreme numbers with no hope of recovery but the market is a see-saw that can swing both ways.
Shiba Inu Could Rise 33 To 50% From Its Current Position
Despite nosediving 90% from its all time high of $0.00003791 on May 10, 2021, Shiba Inu has found resistance at $0.00000575 to $0.00000650 levels and the chart predicts it could have an upward trajectory trend from its current level, as it remained stable despite market slips.
Previous charts have shown that coins that find resistance levels rise up to 33 to 50% before being challenged by the new high and again slips back, as investors who purchased it at its low price end up booking profits.
If SHIB crosses and recovers from the $0.00000675 price, its bullish trend would continue as the coin despite being down, is still not out in the crypto market and has a strong investor fanbase who believe the coin would deliver good results in the long run.
The International Business Times predicts that Shiba Inu would rise up to +750% from its present rate and would touch the $0.000050 mark in 2026. However, no experts predict that SHIB could cross the 1 cent milestone before 2030 as chances of market crash due to the global financial condition remains high.
SHIB recently launched 'Shiba Swap' giving investors the freedom to buy coins directly, than depend on third-party apps such as Pancake Swap and Uniswap among others that charge fees and deductions up to 10% or more.
SHIB at the time of publishing was trading at $0.00000652 and is up +0.15% in the days trade.