Shibu was created as a fun token with a logo of a canine. It was created by an anonymous user named ‘Ryoshi’ in August 2020. Currently, it is trading at a price of $0.00003387. The price has been sugared up significantly through the year. Although, 2021 is a good year for the crypto world. Analysts show that if someone had invested $10, they would have been the owner of thousands of dollars in this year.
Experts also believe that it is expected to provide double-digit returns every year. The creator of the Shibu Inu has started to build a new metaverse called ‘Oshiverse.’ It has also begun working in decentralized gaming and NFTs. If these become successful, then a massive demand will be in the market for the token.
The price of the most fun tokens changes very quickly based on the news. It has a strong competition with Dogecoin, backed by Elon Musk. Investors are waiting for the inclusion of SHIB in the top 10 list of cryptocurrencies, and that means the price will increase in the next few years.
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On the daily chart, MACD is bullish; and the RSI is also above 45, which is great. The most popular trading combination is showing a bullish sign. Besides that, the Bollinger Band is showing lower volatility, and candlesticks are forming around the baseline.
Overall, we cannot provide any short-term point of view, but SHIB is always bullish in the long run. Is it the right time to buy this coin? As per the current price trend and forecast, $0.000026 will be a good price to buy this coin because the price is decreasing after sudden upward movement.
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Shibu Inu and Dogecoin are dominating Twitter. Any good news related to any of these coins increases the price of the two. Traders need to read more regarding the coin’s fundaments and technicals as well as they need to be careful while investing for the short term, because prices can change very quickly.
