Following the Shibarium mainnet launch, there were increased expectations of a massive surge in the price of Shiba Inu (SHIB). But the reverse seemed to be the case as SHIB had to bow to bears, making many investors worry.
At the time of reporting, Shiba Inu’s price, according to its data on CoinMarketCap, is $0.00000826, reflecting a relatively 1% decrease in the last 24 hours. More pathetically, Shiba Inu recorded declines in market capitalization that saw the digital asset fall from its previous 14th-place ranking to a new 16th-place ranking.
While the prevalent bearish crypto market outlook continues to exist, the possibilities of a turnaround in SHIB’s fortunes appear sleek but not without hope.
Shiba Inu (SHIB) Price Forecast For September – Bullish Or Bearish?
Changelly, One of the global leading chain metrics and cryptocurrency price prediction platforms, has given a two-sided forecast for Shiba Inu, a positive and a negative review.
The price prediction site noted that Shiba Inu will trade without deleting any zero in September. This implies that SHIB would continue trading with five zeros for the next 30 days in September.
The price prediction above seemed harsh on Shiba Inu, as the coin had previously deleted a zero when it broke above the 0.00001 resistance level prior to the Shibarium launch.
On the other hand, the only positive from Changelly’s prediction is that Shiba Inu would record an increase of about 10%, which would see it attain a $0.000008988 price mark.
Huge SHIB Tokens Need To Burn
Prior to Shinarium’s launch, crypto market watchers and other top crypto market analysts have come up with price predictions, projecting SHIB as high as $0.1, $0.01, and $0.001.
However, no particular price prediction was renowned to come up with a time frame that specifically noted the exact period when these projected prices would play out.
The crypto community seemed to share bullish sentiments about the prospect of Shiba Inu’s unprecedented rally occurring almost soon after Shibarium’s launch.
The sentiments above by most SHIB enthusiasts are misleading, which could induce “Fear, Uncertainty, and Doubt (FUD)” among investors, especially newcomers.
Shibarium is still in its early launch phase and requires time to attain its full potential. It is worth noting that a considerable number of SHIB supplies must be removed if Shiba Inu must spike by a reasonable percentage.
Burning these tokens is not a day project. It is a gradual process that requires consistency to come by. On the other hand, the overall crypto market outlook seemed to be taking a toll on Shiba Inu (SHIB), as hinted at by Lucie, a Shiba Inu development team member.
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