Can SHIB reach $0.000030 in Q2? Shiba Inu price prediction

  • Exciting potential for SHIB as technical analysis hints at future growth!
  • The exchange flow suggests a pause before a possible price increase.

Shiba Inu [SHIB] has seen an impressive 11.69% surge in the past week. Despite some recent struggles, there are indicators pointing towards a potential rally.

One noteworthy signal is the golden cross spotted on the 4-hour SHIB/USD chart by AMBCrypto. This pattern occurs when the shorter Exponential Moving Average (EMA) crosses above the longer EMA.

Bullish Signals for Shiba Inu

Currently, the 20 EMA (blue) has crossed over the 50 EMA (yellow), forming a golden cross that signals a bullish trend.

Additionally, SHIB’s price has not dropped below the 50 EMA, reinforcing the positive outlook.

Although the Money Flow Index (MFI) is down to 30.21, indicating capital outflow, there is a potential oversold scenario which could trigger a price rebound.

Furthermore, if SHIB can sustain the golden cross, the price may rise further.

Source: TradingView

A possible target is $0.000027, with the potential to reach $0.000030, a level last seen in March.

In addition to technical analysis, AMBCrypto considered on-chain data to gauge SHIB’s status.

Establishing Potential Before Next Move

An evaluation of exchange inflow and outflow revealed valuable insights. A higher outflow compared to inflow usually indicates a price increase, while the opposite can lead to selling pressure.

Currently, SHIB has an outflow of 53.20 billion, slightly higher than the inflow of 50.55 billion, suggesting a potential consolidation phase.

Source: Santiment

Projected price movement is estimated between $0.000023 and $0.000025, with a focus on netflow for future insights.

If the outflow surpasses inflow significantly, expect gradual price growth and a potential breakout towards $0.00030.

Looking ahead: Shiba Inu’s [SHIB] Price Prediction 2024-2025

Analysis indicates a possible price surge before May ends, but caution is advised as unforeseen variables could alter this outcome.

Stay informed on changes in on-chain metrics and technical patterns for a well-rounded view.

Next: Exploring Bitcoin’s recent market surge: Key factors to watch

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