Shiba Inu coin experienced a drastic dip after Bitcoin crashed in May 2021 and only picked up steam during the last week of July and traded with mixed signals of both green and red all throughout August.
The market experienced a correction post mid-August but has remained stable by holding on to resistance levels that eventually pulled prices ahead to new highs.
Shiba Inu (SHIB) is currently hovering around the resistance levels of $0.00000654, holding tightly to the price and is adding buying pressure by getting new investors into its fold while current investors are also buying in on the dip.
The International Business Times predicts that SHIB's buying pressure could eventually make the coin rise up to 25% in September 2021 and reach a new high of around $0.00000871.
However, the point to be noted is that if SHIB drops below its resistance levels of $0.00000654 and fails to hold on to the next $0.00000625 support levels, the bears would take over and tank it on the opposite direction.
The International Business Times predicts that if SHIB does not hold on to the next barrier of $0.00000625 support levels, it could fall and land itself at $0.00000519.
Shiba Inu has dropped 33% since mid-August and fell through multiple support barriers before finally holding on to the resistance levels of $0.00000654. However, since the crypto market is showing bullish sentiments at present, there are chances of SHIB going upwards up to 25%.
Shiba Inu has been pressing all the right buttons by getting itself listed on eToro and WeBull and reports are also doing the rounds that Robinhood and Coinbase are considering to list SHIB on their trading app.
The launch of Shiba Swap has also added confidence in the investors' community and the developers seem to be delivering on all the promises and turning the coin towards the right direction.
SHIB is available for less than a cent and is now the third most talked about cryptocurrency in the world, just below Bitcoin and Ethereum. The low price is attracting new investors and reports show that the coin is adding more than 1,000 new investors each day.
At the time of publishing, Shiba Inu was trading at $0.00000693 and is up +1.92% in the days trade.