SHIB Price Prediction for May 22

Shiba Inu Poised for Bullish Breakout, Analysts Suggest

According to the latest analysis from CoinStats, the ongoing upward trend remains the most likely scenario for the majority of cryptocurrencies, including Shiba Inu (SHIB). The meme-inspired token has seen a 4% price increase since yesterday, currently approaching a key resistance level at $0.00001549 on the hourly chart.

If bullish momentum continues and SHIB breaks above this resistance, analysts anticipate further growth toward the $0.000016 zone. The bullish case gains strength from the apparent dominance of bulls over bears across larger time frames.

Technical indicators suggest that if SHIB closes above $0.00001520 without significant price rejection, the token could potentially test the $0.000016-$0.00001650 range. However, the mid-term outlook appears less optimistic as SHIB remains distant from key support and resistance levels, potentially signaling sideways movement around current prices.

As of now, Shiba Inu trades at $0.00001533.