Close
Considering the extreme fluctuations in the price of Shiba Ino and the drop of more than 80% in the price of Shiba Ino, is now the right time to buy and invest in high-risk currencies like Shiba Ino? Should we buy Shiba Ino now or not? Some investors believe that at the current price floors, it is necessary to buy and hold potential digital currencies because soon the prices will reach much higher levels than their previous historical peaks.
Some investors also believe that with the sharp drop in prices and negative emotions ruling the market, Shiba Inu and its digital currencies cannot be recovered at least in the near future. Stay with us to find the best time to buy Shiba Inu.
Shibaino, abbreviated as SHIB, is a decentralized digital currency that was created in August 2020 by a person known as Ryoshi. The name of this token is taken from the name of a breed of dog in Japanese, whose image is also present in the Dogecoin symbol. Shiba currency is an ERC-20 token created on the Ethereum blockchain and does not have its own network.
Shiba Inu’s total supply is one quadrillion (10000000000000) tokens created in 2020 at the same time as its official launch. 50% of this amount is locked in a Shiba/Ethereum liquidity pool on UniSwap (decentralized exchange) and acts as a market-making system.
Shiba World has a decentralized exchange called Shibaswap and two other tokens called LEASH and BONE. This exchange provides the possibility of trading Sheba and other currencies without intermediaries, and it has the ability to provide liquidity and staking to receive profits using the Sheba token and its other two tokens.
The price of Shiba has experienced a significant drop and this has caused some experts to consider this situation as a pump and dump warning.
According to previous forecasts, the price of Shiba has fallen from the range of 0.000017 dollars and has decreased to the range of 0.000013 dollars.
Each Shiba Ino unit with the abbreviation SHIB is a digital currency with a price of 0.00001084 and a market value of $6,390,330,263. The price of this digital currency has changed by 39.5455% in the last 24 hours. Among all digital currencies, Shiba Inu is ranked 14th and its daily trading volume is $226,809,609.
In the daily time frame, the price of one green candle has been recorded after three red candles. This is while the Bollinger bands have become far apart and the possibility of fluctuating price movements has greatly increased.
The RSI indicator is slightly above the midline and has an upward slope, which indicates the upward trend of the market today. On the contrary, a downward collision has occurred in the Makdi indicator and the color of the histogram has turned red. Despite this, overall indicators are bullish. 11 indicators out of 26 important indicators have issued buy signals, while only 5 indicators have issued sell warnings and 10 indicators are in a neutral position.
Among the 11 important oscillators, the majority of them, namely 9, show a neutral position, while 2 are in a buy position. Among the moving averages, 9 cases show a buy signal, 1 case shows a neutral status and 5 cases show a sell signal.
The upcoming resistances according to the Fibonacci levels are $0.00001363 and $0.00001493, and the existing supports are present at $0.00001283 and $0.00001154.
Yesterday, another stage of the Shiba Inu token burning took place, during which more than 133 million Shiba tokens were transferred to inactive wallets to be withdrawn from circulation. After this unexpected increase in token burning, the Shiba price fell by 13%.
At the same time as the price of whales fell, they sold more than 33 million dollars of their Shiba assets. Shiba Ino’s share, which was one of the most popular tokens among whales, has now dropped significantly. Currently, only 158.5 million dollars of the assets of the Whales, which is only 5% of their portfolio, are allocated to Shiba. The decrease in the assets of whales can be a sign of fading hopes for the upward future of this digital currency.
According to some experts, meme coins do not have a bright future, but others believe that the Shiba Ino token, because it has good support in society and famous people like Elon Musk, can have a different future than other meme coins. If the price of this altcoin increases as predicted, it can be considered a worthwhile investment.
According to Shiba Ino analysis, Shiba price is expected to fluctuate between $0.00001393 and $0.00001530 this year.
The price behavior in the future depends on the increase in its use and general market conditions. It is difficult to predict the price of digital currencies due to the extreme volatility in the market, but experts have provided estimates by analyzing historical price movements. Walt Investor experts believe that Shiba will trade at an average of $0.000221 by the end of 2022. Based on this, it is expected that the price of this digital currency will decrease to 0.0000153 dollars by 2025. Meanwhile, Gokpital believes that Shiba’s price will reach $0.000445 in the next 5 years. In its long-term forecast, the digital coin price has estimated an average of $0.0000728 by 2030.
With the current growth rate and the current market situation, Shiba’s price does not seem to rise in the future It can almost touch high levels like a dollar. But there is a lot of volatility in the digital currency market. Just as the price of Bitcoin started to fall with the release of unfavorable news and lost about 70% of its value, it is possible that with the release of positive fundamental news, a new period of bullish movements and bull cycles will be formed in the market. and this can raise the price of popular digital currencies like Shiba.
Fluctuations in financial markets are normal, and this causes the price of any asset to experience many ups and downs. Shiba Inu is also a volatile digital asset that has hit highs and then lows in the past year.
Several factors can affect the sharp drop in Shiba’s price, but in order for the popular digital currency to lose all its value, several factors must come together at the same time, and considering the increasing use of digital currencies in the daily lives of individuals and between companies. Big ones, this seems unlikely.
In addition, the increase in inflation in the world, and especially in the American economy, has caused a decrease in the value of the dollar, which is itself a factor in the increase in the price of Bitcoin and, consequently, altcoins. Although nothing is impossible, the possibility of Shiba’s price reaching zero dollars is low given the current conditions.
