The Price of Shiba Inu Moves to New Lows As Meme Coins
Meme Coins
The price of Shiba Inu has been falling for more than a month. Several analysts believe that the cryptocurrency is oversold and should be able to rebound to its previous prices. According to a recent report by The Economist, the cryptocurrency was one of the 10 most valuable cryptocurrencies in 2021 with a market cap of $37 billion. It is currently priced at $0.000078.
The cryptocurrency market has seen a tremendous amount of volatility in the last few weeks, but the market is still showing signs of stabilizing. While Bitcoin and Ethereum are both experiencing massive increases in value, the smaller altcoins are more volatile and have negligible value. The little-known Alien Shiba Inu is one example. On January 9, it rose more than 500 percent on Coinbase. The Meme coin also targets dog-themed coins such as Trollcoin, PixieCoin, and IvyCoin.
Wallet Investor is a platform that has been used to predict the price of the Shiba Inu. It uses artificial intelligence to forecast price movements in cryptocurrencies. Its prediction tool estimates that the price of Shiba Inu will double by September of next year, reaching $0.000014. The prediction is not exact because no one can accurately predict the price of a volatile asset over a year.
The Price of Shiba Inu Moves to New Lows As Meme Coins
Despite the booming market of cryptocurrency, Shiba Inu has fallen sharply over the past several months, and despite its popularity among whales, it has failed to rise to its former levels. The coin has fallen from its all-time high and remains in a bear market, and the market seems to be shrinking. The price of Shiba Inu could fall as much as a third in the short term, if it continues to fall.
This cryptocurrency has been the fastest growing cryptocurrency in the last year. Its IPO valuation was only $250 million, and it is a popular’meme coin’. Inu has been listed on several exchanges and has a market cap of $19 billion. In addition, it has seen a rise in traded volume over the last year. As a meme coin, it is hard to short. With such a low valuation, a buy bias is natural for the coin in the short run.
The Shiba Inu has become one of the most popular cryptocurrencies in 2018. It is listed on several exchanges and has even launched its own decentralized exchange called ShibaSwap. It has even been landed its first major merchant. While it is difficult to short a cryptocurrency, the popularity of a certain cryptocurrency is hard to override its inherent price bias.