Shiba Inu (SHIB), a popular cryptocurrency, has recently displayed a neutral sentiment in its current price movement, according to the latest analysis on CoinCodex. The Fear & Greed Index stands at 62, indicating a slight inclination towards greed among market participants.
Recent Analysis Highlights Historical Growth and Moving Average Trends
Over the past 30 days, Shiba Inu has experienced significant gains on 21 days, resulting in an impressive 70% increase. Based on these observations, CoinCodex suggests that now might be a favourable time to consider investing in Shiba Inu.
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CoinCodex has conducted a comparative analysis, drawing parallels between Shiba Inu and notable technological innovations and trends. This analysis offers potential price predictions for Shiba Inu in the years 2024, 2025, and 2026 based on the growth patterns of companies such as Facebook, Google and the overall Internet landscape.
Shiba Inu Predictions for 2024, 2025, and 2026
CoinCodex’s analysis suggests that, in the best-case scenario, if Shiba Inu follows the growth trajectory of Facebook, its price could reach $0.000131 in 2025 and potentially surge to $0.000291 in 2026. However, if Shiba Inu aligns with the growth pattern of the Internet as a whole, its predicted price for 2026 would be $0.00003342.
Regarding Google’s growth trajectory, which CoinCodex signals as a ‘strong buy,’ the analysis indicates that Shiba Inu’s price may reach $0.00002931 by 2024.
Current Sentiment and Moving Average Trends
As of July 3, 2023, the general sentiment surrounding Shiba Inu’s price prediction remains neutral, according to CoinCodex’s analytic platform. Technical analysis indicators are divided, with 13 bullish and 13 bearish signals.
However, it is important to note that Shiba Inu has been trading below the 200-day simple moving average (SMA), which suggests a sell signal for the past 73 days since April 2023. Additionally, the price of Shiba Inu is currently below the 50-day SMA, indicating a sell signal for the last seven days since June 25, 2023. These moving averages imply a downward trend in Shiba Inu’s price.
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Historical Performance and Profitability
Despite the recent neutral sentiment and moving average trends, investing in Shiba Inu has been profitable in the past month, as indicated by CoinCodex’s historical data. Furthermore, Shiba Inu has shown a remarkable growth of 516,153.00% over the last three years, resulting in substantial profits for investors.
Disclaimer: This comprehensive news article is based on the analysis provided by CoinCodex and should not be considered financial or investment advice. Please conduct your research and consult with a professional financial advisor before making any investment decisions.