The price of Shiba Inu (SHIB) is showing positive trends, but sustainable growth is still not observed. Analysis indicates support at certain levels.
Current Price and Support of Shiba Inu
Currently, the price of Shiba Inu is trading higher, but a strong momentum in the network is lacking. Over the past 24 hours, the SHIB coin has established a strong support base between $0.0000126 and $0.0000127. Technical indicators suggest potential for further upward momentum. The price of SHIB has shown a 2.9% gain over the past day but failed to maintain gains above the 100-day Simple Moving Average (SMA) at $0.0000133, trading at $0.0000131.
Potential 503% Growth for SHIB
Some experts believe that Shiba Inu may be on the verge of a major breakout that could send it soaring over 500%. The optimistic forecasts are based on features of technical analysis, particularly the 'Inverse Head and Shoulders' pattern. Analysts believe that this pattern indicates a potential trend reversal from bearish to bullish. According to the expert, SHIB appears to be in the final stages of this pattern.
Market and Competition of Shiba Inu
While SHIB struggles for growth, Unilabs Finance (UNIL) emerges as a powerful player in the DeFi space, potentially surpassing SHIB in long-term value and utility. Unilabs offers the first AI-backed asset management platform, and investor interest is surging with over 440 million UNIL tokens sold, reflecting increasing interest not only in SHIB but also in its competitors in the market.
While SHIB may provide short-term trading opportunities, Unilabs is creating new approaches to investment both within and outside the DeFi space.