SHIB Price Prediction Week 1 November 2021

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By Crypto Vibe

Shiba Inu is one of the most effectively growing cryptocurrencies right now. SHIB has witnessed a ridiculously high market growth over the past year leaving behind the market cap of several large companies. One of the key reasons behind the immense popularity is the heavy loaded investing forces behind the Dogecoin competitor. Currently, Shiba Inu is looking to revive the momentum of the record rally. With a fruitful weekend, SHIB price has witnessed a 110% in the past week. Most importantly, the last week was quite fortunate for Shiba Inu as it surpassed Dogecoin’s market capital. On the first day of the new month, here we are with the SHIB price prediction for the first week of November.

Influence of the Eight Whale Accounts

Dogecoin and Shiba Inu are classic and most-obvious crypto competitors. Representing the same breed of the animal, the two cryptocurrencies rival with each other based on their market caps and popularity. In the past week when Shiba Inu surpassed the total market cap of Dogecoin, several theories came through explaining what happened.

Into the Block – crypto research firm reported that a skyrocketing 70.52% of SHIB’s market circulation is attributed to eight whale accounts. One of the whale accounts holds 41%. While this may be valid, we can expect a positive stance for SHIB prices at least in the current wave.

SHIB Price Prediction

The SHIB price is following a fortunate path on the charts. With the price retreating, traders are trying to take advantage of the situation as there might still be more room for the meme coin to rise. The SHIB price has bounced off at $0.0000578 support after a correction from all-time highs of $0.0000885 reached the last Thursday. In the past two trading sessions, SHIB has managed to defend the 61.8% Fibonacci level. A sustained move above the record highs could possibly initiate a fresh upswing towards the $0.00010.

Please note that our SHIB price prediction is based on the technical analysis of the crypto experts and does not offer any financial advice.