Over the past few weeks, activities and happenings in the crypto space have not been encouraging for crypto investors, especially those after profits. Shiba Inu’s earlier projected $0.01 price mark seems not feasible, especially considering several underlying market factors that have weighed down the dog-themed meme project.
Although the projected price seems impossible, the community members around the token remain optimistic that a repeat of the 2021 rally is still on the cards for SHIB.
Read Also: This U.S. Politician Wants To Keep Buying Shiba Inu (SHIB) Once He Gets Paid: Details
As of June 12, 2023, Shiba Inu sold for $0.00000664. However, the past month saw Shiba Inu decline by 24.8%, and in the past seven days, the token has been down 21.6%.
Also, the past week saw SHIB tokens record a price high and market low of $0.00000852 and $0.00000591, respectively. Shiba Inu has fallen by 92.3% against its all-time high (ATH) of $0.00008616, recorded on October 28, 2021.
Despite the unimpressive statistics, Shiba Inu community members are confident about the coin’s prospects of ascending to a price high of $0.01. Several factors seem to keep the SHIB community members’ hope alive, ranging from the support the token appears to enjoy from the Shiba Inu community to the increasing listings of SHIB on several Decentralized Exchange (DEX) and Centralized Exchange (CEX) platforms.
Read Also: If Shiba Inu (SHIB) Reclaims ATH, How Much Would You Make with $100 or $1,000 Investment?
In addition, the platform has enjoyed adoption by different business enterprises, resulting in more utility and appeal for the token.
Although the $0.01 price point is a long way to go considering the price of SHIB at the time of press, a repeat of the 2021 parabolic trend is enough to take SHIB beyond the most coveted price level.
Follow us on Twitter, Facebook, Telegram, and Google News
The meme coin market is buzzing with excitement as heavyweight tokens like $TRUMP and Goatseus…
Bitcoin is at a critical juncture. Market watchers and analysts are turning their attention to…
The United Kingdom is taking a major step toward regulatory clarity in the digital asset…
A prominent figure in the cryptocurrency space, known as DustyBC, has asserted that owning only…
Vandell Aljarrah, co-founder of Black Swan Capitalist, has advised crypto investors to develop a clear…
Shiba Inu could be preparing for a significant price movement following a crucial trendline breakout,…
