At the time of publication, Shiba Inu is selling at $0.000013 after a pullback of 1.23% over the last 24hrs. As the currency is making such a move, there could be an opportunity for shorting if the price drops.
If that happens, Shiba Inu’s price might see a fall of 27% and drop to $0.0000093. This will form a ‘Fair Value Gap’ (FVG) which will cause a further price drop to $0.0000083. However, SHIB can see a bull run if the currency manages to claim the $0.0000179 level with a gain of 95%.
Nevertheless, many market experts have put forward mixed predictions regarding the probability of SHIB reaching $1. Among them is Lark Davis, who has claimed that SHIB will not reach $1.
Shiba Inu Price Can Never Hit $1
Lark Davis explained his point via a Twitter post using a meme.
The meme currency, which was launched in August 2020, is currently trading at the 13th position after gaining levels above $0.000012. The overall SHIB supply is at 589.63 trillion, which is posing a huge hindrance for the currency to hit $1. However, if SHIB fails to move above $0.0000083, the currency will see a fall near $0.0000074.
On the other hand, as per the CoinMarketCap community, Shiba Inu will claim $0.00001106 by 2022.