Shiba Inu is a cryptocurrency backed by a strong social community. A recent tweet from Elon Musk helped the coin rise. Jung, who narrated the video, spoke for 18 minutes about the coin’s rise. He said it could be a good long-term investment and noted the community behind the coin.
Shiba Inu is on an upswing, and it is trading well above its most important moving averages. Its 20-day MA is $0.00002386 and its 200-day MA is $0.00002361. However, the 10-day MA of $0.00002471 is above the coin’s price, and it is a major resistance. If SHIB continues to rise, it is likely to cross this key level. In addition, the currency’s price is approaching a major support zone at the 23.6 Fibonacci retracement level of $0.00002427.
The Shiba Inu cryptocurrency is gaining popularity at a rapid rate. As a result, this cryptocurrency has seen a meteoric rise in price in the last year. However, scammers are still attempting to take advantage of the cryptocurrency’s popularity. One such example involves fake Shiba Inu cryptocurrency giveaways. YouTube users should be careful of such videos.
The Shiba Inu coin is expected to hit $0.0001 in price by 2025, and experts agree it will rise in the long run. However, there is a risk that the coin may be affected by market consolidation. As a result, it is crucial to monitor the price of the Shiba Inu cryptocurrency.
The Shiba Inu coin is becoming a meme currency. Some say it’s the next Dogecoin. While there are some similarities, they are very different. Shiba Inu is an altcoin based on memes, and Dogecoin is a more traditional currency. It generates huge buzz and is expected to grow rapidly in the coming years. Its value is currently on a positive trajectory. However, you should take a cautious approach and consider using an investment platform that has a social trading platform and competitive fees.
The Shiba Inu project acknowledges that the Metaverse is rapidly becoming an important part of our society. Its project uses the concept of non-fungible tokens, or NFTs. This type of currency will allow users to buy and sell Shiba Lands, which are made up of NFTs.