• Shiba Inu (SHIB) was launched as a memecoin in 2020 with the aim of becoming a contender to Dogecoin (DOGE).
• The current price of SHIB is $0.00001102 and it has been forming a descending triangle pattern, which could indicate a bearish trend.
• According to our SHIB price prediction for 2023, the prices may reach up to $0.00001597-$0.00002560 or fall down to $0.00000731.

What is Shiba Inu (SHIB)?

Shiba Inu (SHIB) was launched on the Ethereum blockchain and also resides on the Binance Smart Chain (BSC). This popular memecoin was developed and launched in 2020 by a pseudonymous founder Ryoshi. Shiba Inu exists as a potential contender to the largest memecoin, Dogecoin (DOGE) and thus, it is called the DOGE killer. The network is working on launching its new Defi project, Shibarium Financial Ecosystem (SHIBFE). SHIBFE is followed by the launch of its native stablecoin project, SHI. SHI is an “algo-stablecoin” pegged to a dollar.

Shiba Inu Current Market Status

Current Price: $0.00001102
24 – Hour Trading Volume: $152,516,615
24 – Hour Price Change: 1.8% Down
Circulating Supply: 589,366,379,199,203
All – Time High: $0.00008616 (on Oct 28th 2021)

Shiba Inu Price Prediction 2023

Shiba Inu holds the 15th position on CoinGecko right now and according to our prediction for 2023 based on data from statistics and price patterns; RSI; RVOL etc., we can infer that:
Bullish Prediction: Prices may reach up to $0.00001597 -$ 0 . 00002560 or even hit $0 . 00008 soon
Bearish Prediction : Prices may fall down to $ 0 . 00000731

Support & Resistance Levels

The chart below shows support & resistance levels which act as indicators of possible breakouts & reversals in trends respectively :

Conclusion

Overall , Shiba Inu might witness an uptrend or downtrend depending upon if there’s a significant breakout or reversal in trends respectively , making it an interesting asset for investors looking out for potential profits in 2023 .