This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Popular cryptocurrency market analyst Captain Faibik has shared his predictions for the price of Shiba Inu (SHIB) and where it could be by mid-December. According to Faibik, SHIB has crossed a trendline near the $0.00000839 price level, indicating a significant retest. If this retest is successful, Faibik believes the token could experience a bullish rally of up to 2X, potentially reaching as high as $0.00001678. However, the chart suggests that this retest will be challenging to achieve. Despite this, SHIB is currently trading at $0.0000086, up 22% in the last 24 hours, which suggests a more optimistic outlook. Faibik’s predictions have sparked increased confidence in the Shiba Inu community. Additionally, a price algorithm prediction from CoinCodex forecasts that SHIB’s price will reach $0.0000095 by December 11, indicating a 10% increase from the time of prediction. The forecast also highlights several technical analysis indicators, with 24 indicating optimistic signs and 4 suggesting bearish conditions. The current RSI value of 63.05 is neither overbought nor oversold, according to the prediction.