Shiba Inu Price Prediction as Pro-Ukraine Internet Celebrities Use Shiba Memes to Combat Russian Propaganda – What's Going On?
The price of Shiba Inu (SHIB) has barely moved in the past 24 hours, with its current level of $0.00000753 representing a 1% loss in the past week.
SHIB is up by 14% in the last 30 days though, with its latest movement coming as a number of pro-Ukraine celebrities have been using Shiba Inu memes to combat Russian misinformation online, with even Estonia's Prime Minister recently tweeting a thank you to the network responsible for such memes.
However, such a usage of Shiba Inu-related memes is not actually new, with the practice stretching back at least year, meaning that it's unlikely to have a substantial impact on SHIB's price.
But with the ecosystem still awaiting the full launch of layer-two network Shibarium, the meme coin could still be in line for big rallies in the not-too distant future.
Despite today's lack of real movement, SHIB's indicators are in a comparatively good position, with the possibility of further gains.
The meme token's 30-day moving average (yellow) has begun rising steeply above its 200-day average (blue), indicating some potential for a breakout.
On the other hand, SHIB's relative strength index (purple) is hovering around the 50 level, meaning that it could potentially go either way.
The uncertainty is accentuated further by the fact that the coin's medium-term support level has fallen slightly in the past couple of weeks, meaning that SHIB may not be able to resist further falls in the near future.
Still, SHIB's medium- and long-term future looks a little more positive, with the aforementioned trend for using Shiba Inu memes likely to have the effect of increasing the meme token's visibility and popularity.
As noted above, Estonia Prime Minister Kaja Kallas recently used a tweet to pay tribute to
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