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Despite the negative news flow and the stagnant market cycle in the crypto market, the Shiba Inu team and investors are doing their best to push the price up. The accumulation of SHIB by whale investors and the developments on the Shibarium platform support this situation. Some investors predict that SHIB’s price could reach $1 by 2050, but currently SHIB is trading at $0.00000736. So what does it take for SHIB to reach $1?
The $1 Target for Shiba Inu
According to Telegaon’s report, known for its long-term targets, Shiba Inu’s price will reach $0.0001 by 2027. Accordingly, SHIB price will experience a 1231% increase within four years.
Going further, investors targeted an average of $0.000153 for SHIB in 2027. According to many analysis reports, as long as token burn processes and whale purchases continue, SHIB’s price will fluctuate between $0.0000945 and $0.000198 in 2027.
Going even further in their predictions, investors extended their price performance estimates for SHIB until 2050 and highlighted a continuous upward trajectory. The investor conveyed to their followers that SHIB will reach $1 in 2050. Currently, SHIB is trading at $0.00000736.
SHIB Price Analysis
Previously, a descending triangle formation occurred in the SHIB market, which broke downwards and caused significant losses for many investors. On the two-hour chart, SHIB price had a nice formation and an ascending channel formation was observed. The fact that this structure works as both support and resistance multiple times can lead futures traders to monitor it closely. The resistance of the EMA 200 level in the recent bars on the two-hour chart is a negative situation for SHIB.
The support levels that should be noted for SHIB are respectively: $0.00000732 / $0.00000722 and $0.00000697. Especially, a two-hour closing below the $0.00000722 level can cause a significant drop in SHIB price.
The resistance levels that should be monitored for SHIB are respectively: $0.00000743 / $0.00000754 and $0.00000763. Especially, a two-hour closing above the $0.00000763 level enables the upward breakout of the ascending channel formation and rapid price increase.
