A Shiba Inu Price Reversal at this Level Could Cause a 100% Rally

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A Shiba Inu Price Reversal could cause a huge rally probably taking it to the previous high levels. The coin’s price is currently trading at a key decision zone.

It seems to be resisting any downside movement with momentum indicators showing a decreasing selling strength. This is an indicator the token could be reversing.

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Shiba Inu coin is famous for its huge rallies especially coming from a reversal. This was evident in that last rally that saw the coin breaking the previous high with a huge margin.

At the very least, any reversal at this level could see the coin rallying by 100% or higher. These rallies have made the coin very attractive as they offer huge returns.

The October rally saw its price grow almost 5 times in a few days. By any standards, these are supernormal returns for investors who caught the trend early.

Adequate Investor demand

The key to growing the price of Shiba token is the availability of a strong demand that comes both from the retail and whale investors.

On the retail end, the coin hit a 1 million investors market recently. These investors bring with them a huge amount of demand and are waiting for the right signal to get into the market.

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There has also been an increase in whale activity recently. This is evident after Gimli and Hulk bought trillions of coins in a few days. Hulk is the last to acquire 8 trillion tokens worth over 290 million dollars.

This shows demand is growing and will be key in growing Shiba Inu Coin by 100%. It is normal for SHIB to experience such growth. In the last rally, it rose by 500%. Hence, Shiba will still be playing in its territory.

Increasing Shiba Utilities

Shiba has been busy creating and launching utilities in the market. By doing this, the coin targets to increase its user base. A key element in the SHIB price growth.

Some of these utilities include the already in market Shiboshis Non-fungible tokens and the recent ongoing project of Shiboshi games.

The launch of Shiboshis NFTs in Mid-October has been lauded as a success with all the 10,000 NFT images having been fully taken up.

The network is now planning to use these NFTs in creating the first Shiba Metaverse games. Entrance into the metaverse industry has analysts predicting it could be one of the biggest Shiba price drivers in the future.

Creating relevant market utilities is critical in positioning the coin as a solution provider. In the long term, this will positively affect the coins price growth.

Shytoshi Kusama Promises to Change the Crypto Industry with Shiba Inu Gaming Metaverse.

Why 100% Rally From Shiba Inu Price Reversal?

The 100% target is a moderate estimation consideration the coin will not get to the previous high by this rally. However, it is a realistic estimation that investors could work within predicting their rewards.

There are chances it could face resistance at its previous high. According to the price action rules, the previous high level is now a resistance area and most investors will be looking to exit the market at that level.

100% rally from Shiba Inu price reversal is a realistic profit target that traders could aim for in the short term.