Meme coins such as Dogecoin and Shiba Inu Coin have been on a rollercoaster ride in recent weeks. As a result, we saw substantial increases in late October and early November. Even so, the FTX impact caused the prices to end up losing significantly again. What is the Shiba Inu price prediction for the end of 2022 after consolidation? Let’s take a look at it in more detail.
How has the Shiba Inu price changed in recent weeks?
Shiba Inu Price Prediction: SHIB/USD Weekly chart showing the price – GoCharting
The Shiba Inu price increased substantially at the end of October. The SHIB price increased from 0.00001 to 0.000014 US dollars. This 40% rise was considerably greater than the rises seen by other altcoins during this period. Even so, this upsurge has been outshined by the latest doubling of the Dogecoin price.
However, the Shiba Inu coin was also badly affected by the FTX crash in the following days. The price greatly reduced from $0.000014 to $0.000009. After the huge drop, the price has slightly returned to normal. Nevertheless, the price has dropped even further. In recent days, the price has fallen to $0.0000082. At the time of writing this, the SHIB price is trading at $0.000009252.
What ended up causing Shiba Inu’s price fluctuations?
The Shiba Inu coin has experienced significant price fluctuations in recent weeks. This was due to a variety of factors. The Bitcoin price had repeatedly broken out of a long sideways movement, resulting in a big rise of more than 40%. This ignited an altcoin rally. Particularly popular were meme coins such as Dogecoin and Shiba Inu Coin.
The FTX crash caused damages to the Shiba Inu coin at the start of November, and the Shiba Inu prediction became weak. The meme coins, in particular, had to recognize even bigger losses. This is because of the nature of these coins. Overall, the Shiba Inu price was relatively low after the crash then it had been earlier.
What is the prediction for the Shiba Inu at the end of 2022?
Before the FTX crash, the Shiba Inu price was looking very promising in the final few months of the year. However, the crash has made Shiba Inu’s outlook worse. If the overall market is losing a significant amount of money and the general market perception is bad, meme coins will struggle.
The ultimate hope for a potential increase comes from the fact that there have regularly been slight rises in the cryptocurrency market at the end of the year in the past. This rise, however, is not assured in 2022. As a result, a small increase towards the end of the year is conceivable, but so is a more lateral movement.
How high can the Shiba Inu coin go in our prediction?
There is still a chance that the price will increase further in the coming weeks. Even so, there are a few signs that we will see a similar route to that seen at end of October in the upcoming days. Even so, a 10-20% rise appears possible in December.
At the moment, a drop to $0.000007 or lower looks unlikely. This would require the crypto market to enter another downturn, which does not appear to be true at the moment. The normalization suggests that the prices of cryptocurrencies could still actually rise in 2022. By the end of 2022, we predict a Shiba Inu price prediction of $0.000008 to $0.000012.
Is it worthwhile to invest in the Shiba Inu Coin?
Shiba Inu Coin is one of the riskiest and most volatile cryptocurrencies. An investment in the SHIB in 2021 could generate massive profits. The meme coin is at a crossing point in 2022. Will Shiba Inu be able to compete with the most popular cryptocurrencies in the future?
The Shiba Inu Coin, on the other hand, can still be utilized as a high-risk investment. Another rally is plausible in 2023. As a result, investors can take into account the Shiba Inu a high-risk asset.
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Source: https://cryptoticker.io/en/shiba-inu-price-prediction-shib-2/