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- 1 Shiba Inu price prediction for December 2023 is a sharp rise.
- 2 SHIB price managed to climb above the 50 day and 200 day EMAs.
- 3 Consolidation range in SHIB crypto will mature soon and expansion is likely.
Shiba Inu price prediction for December 2023 is bullish. A 10% to 15% up-move may be visible soon. In 2024, the meme coin king SHIB price may try to continue the recovery.
SHIB crypto price seem bottomed out and buyers are coming back to track to give life to this meme coin. Slow and steady, Shiba Inu price is recovering and showing signs of the bullish trend reversal.
The trading volume is also on rise which positively impacts the price. If the buying volume increases and price continues to trade in the narrow range. Then it might be an indication of the presence of whales who are silently accumulating SHIB.
However, another scenario is volume increases and price also increases then also it showcases bullish momentum might be visible. The 50 day and 200 day EMAs are reversing upward.
SHIB price managed to climb above both the EMA which has boosted the confidence of investors. Moreover, it also shows that the short term trend has reversed upward. Currently, Shiba Inu price is trading at $0.00000847 with a one day decrease of 0.59%.
Shiba Inu Price Getting Ready for Massive Up Move
Shiba Inu price prediction suggests a rise in the short run. The buyers are getting active and may show a massive up move any time.
In the mid of November, SHIB price attempted to break the $0.00000950 hurdle. Sadly, buyers did not succeed and they failed to hold the higher level. Later, price faced rejection and retraced back to the EMA.
Surprisingly, buyers are present near the EMA and succeed to defend the support and bounce.
The analysis suggests, SHIB is preparing for another attempt to break the $0.00000965 resistance. Moreover, this time the possibility of breakout remains high so investors may go long and participate in the rally.
SHIB Price Formed a Short Term Base
SHIB price is in the bulls’ grip and formed a strong base near the $0.00000750 level. The price action shows that Shiba Inu price will recover slowly but it will pick up the momentum when buyers break the $0.00000965 hurdle.
The RSI curve at 55 sloping upward denotes the strength of the bulls. The supertrend also favors the bulls and indicates that the short term trend is up.
Conclusion
Shiba Inu price prediction suggests a rise in December 2023 and that buyers will remain active near support. However, the SHIB price will gain momentum when buyers are able to break out of the $0.00000965 barrier.
Technical levels
- Resistance levels: $0.00000965 and $0.00001137
- Support levels: $0.00000760 and $0.00000662
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
