Can Shiba Inu (SHIB) outperform Dogecoin (DOGE)?

The price predictions for Shiba Inu (SHIB) remain slightly bearish, despite bouncing above the $0.0000098 support zone. For several weeks, Shiba Inu SHIB has underperformed Dogecoin (DOGE), with prices fluctuating within a narrow range on low volume.

As the price of Bitcoin (BTC) and other crypto-assets such as Ethereum (ETH) have experienced a slight pullback, SHIB will need to gain momentum to hope to break out of this range. However, the uncertainty surrounding the crypto market makes it difficult to determine price movement.

Shiba Eternity Game Reaches Another Key Milestone

Shiba Eternity has recorded a significant number of downloads on Google Play Store, just a week after the game’s highly anticipated release. Since its international release on iOS and Android, the trading card game has surpassed the 100,000 download mark on Android .

The game has 11,500 user reviews and a rating of 4.7. The Shiba Inu team claimed it was the most complex card game ever created for smartphones.

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Shiba Eternity – Source: Google Play Store

Players can choose from 10,000 Shiboshi heroes and 500 trading cards. On September 6, the day of its international release, the game entered the top 20 most downloaded games on Apple’s App Store.

The SHIB token is usable in-game. The popularity of Shiba Eternity benefits the SHIB/USD pair by reducing the circulating supply, which increases the market price as fewer tokens are available.

The renewed interest of whales (whales) for Shiba Inus

On October 19, Shiba Inu moved dangerously close to the critical support level of $0.0000094 on the 4-hour chart. SHIB nevertheless managed to avoid the worst, as two anonymous investors spent the colossal sum of $2.72 million in three major transactions to buy 256.98 billion from SHIB.

According to data fromEtherscan.iothe 50th largest investor in the Shiba Inu ecosystem acquired 125.34 billion SHIB, worth approximately $1.32 million, in two separate transactions.

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Shiba Inu Whales – Source: Etherscan.ioh

Shortly after, this investor added 63.60 billion SHIB, or $673,537, to his portfolio. Separately, the seventh largest Shiba Inu whale made a purchase of 131.63 billion SHIBs, worth about $1.39 million.

This whale now has 15.44 trillion SHIB (about $163.51 million) in its wallet. The world’s second-largest canine-themed cryptocurrency by market cap has fallen below critical support, sparking renewed interest in SHIB.

However, following the massive accumulation made by these whales, the price of SHIB/USD quickly recovered.

A growing ecosystem

Shiba Inu has recently emerged as one of the most important tokens on the market. Despite its humble beginnings as a meme cryptocurrency, Shiba Inu is now striving to establish a complete ecosystem.

The Shiba Inu ecosystem now consists of a play-to-earn game, a metaverse, and a decentralized exchange. Shiberse and Shibarium are two vital projects that could help with the widespread adoption of SHIB. Shiba Inu continues to grow in popularity, and many investors are considering including SHIB in their digital asset portfolio.

The recent addition of SHIB to the payment options of BitPay increased the liquidity of the cryptocurrency meme.

In addition, Google and Coinbase collaborated to accept cryptocurrencies such as Shiba Inu for cloud services. Google’s support for cryptocurrencies could boost their usefulness and popularity and these many developments are contributing to the positive sentiment around SHIB.

Price prediction for Shiba Inu

SHIB/USD is trading in a tight range from $0.0000098 to $0.000010. A break of this range is likely to trigger a bullish or bearish moment. On the positive side, a break above $0.0000102 can extend an uptrend to $0.0000105 or $0.0000108.

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Shiba Inu Price Trend – Source: Tradingview

A break at the $0.0000098 level, on the other hand, could push Shiba Inu down to $0.0000094. Keep an eye on $0.0000098 as an uptrend is expected above this level. The support level is still at $0.0000094.

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Can Shiba Inu (SHIB) outperform Dogecoin (DOGE)?


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