Shiba Inu Price Prediciton: SHIB is about to double

Shiba Inu Price Prediciton: SHIB is about to double



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A brief technical and on-chain analysis on Shiba Inu price. Here, FXStreet’s analysts evaluate where SHIBA could be heading next. Please, subscribe to our YouTube channel, follow us on Twitter @FXScrypto and join our Telegram channel.
Read: SOS Stock Price: Sos Ltd snaps losing streak despite hitting a new 52-week low price

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Bitcoin price continues to consolidate inside another tight range with no directional bias in sight. This development has caused many altcoins to explode, while Ethereum and Ripple continue to wait for a BTC cue. 
Shiba Inu price seems to be back at square one after undoing its recent yet explosive rally. This development comes as Bitcoin price also tumbled down from $25,000. However, the meme coin is likely to provide another opportunity before triggering an aggressive rally.
Ripple’s XRP is a leading altcoin used for cross-border payment settlement. The rise of central bank digital currencies (CBDC) and a potential ban on stablecoins, poses a risk for XRP’s adoption and utility. 
Apecoin (APE) price action is set to pop a little higher as traders try to eke out those last gains before facing that catalyst on Friday afternoon with the Jackson Hole symposium. 
A period of controlled selling has kick-started and is currently approaching short-term support levels. A minor relief rally might occur – before the next leg down to inefficiencies and liquidity. The current down move has broken significant levels that could trigger a massive sell-off in the future. 
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