Shiba Inu Breaks Downtrend Line – Is A Trend Reversal Imminent?

Shiba Inu (SHIB) along with another meme coin Dogecoin (DOGE) have had the worst crashes. However, SHIB is singing a different tune as it turns green after suffering a bearish downturn for a long time. Unlike DOGE, the crypto community is very optimistic about the future of Shiba Inu’s price. Shiba Inu is a popular dog meme coin that is said to rival Dogecoin. SHIB is a high-performer in the crypto space but also suffered a catastrophic drop like the rest of the crypto market. However, in October, SHIB was able to bounce back by more than 100% and reached an ATH of $0.00008616. Shiba Inu was built on Ethereum while DOGE had its own blockchain. SHIB went viral as it was treated like a joke on social media, especially on Twitter. Basically, Shiba Inu initially was able to ride on with DOGE’s success as many people jumped in and bought SHIB to rake in from the positive market sentiments. Crypto Community Predicts 101% Spike For SHIB The CoinMarketCap community forecasted that SHIB will trade by $0.00002065 at the end of July this year. The crypto community, composed of around 16,403 members has predicted Shiba Inu’s price to spike by 101.30% or 0.00001039 from its current price. As of this writing, the community members have voted and forecasted the SHIB price for August to glide to $0.00001761. Since January of 2022, SHIB has been on a steady decline seen mostly in May but the good news is that it generated short-term winn...