Shiba Inu Price Prediction For the End Of 2022
Shiba Inu is a cryptocurrency that was created with the aim of becoming a fast and friendly alternative to other cryptocurrencies. The native token of the Shiba Inu network is SHIB. SHIB holders can use the token to tip content creators, participate in governance, or trade it on exchanges. Shiba Inu was launched in August 2020 and has since gained a large following on social media platforms such as Twitter and Reddit. The project's mascot is a Japanese Shiba Inu dog, which is where the name of the project comes from.
In March 2021, Elon Musk tweeted about getting a Shiba Inu dog which made the coin grow by over 300%. After this, SHIB gained a lot of momentum, and since then, many people have ‘HODLED’ this coin, hoping that it would reach new heights. Unfortunately, it has lost over 90% of its value since its all-time high of $0.000088 and is now trading at $0.000011.
But what does the future hold for Shiba Inu and its native token, SHIB? Let’s find out in our price prediction for the end of 2022.
Shiba Inu Coin Price Analysis
The crypto bear market of 2022 has shifted the focus of investors from price appreciation to real utility. In the case of Shiba Inu, the native token SHIB has a few use cases that make it a desirable asset for investors and traders. The first is tipping content creators on social media platforms such as Twitter and Reddit. The second is participating in governance votes on the Shiba Inu network. And lastly, SHIB can be traded on cryptocurrency exchanges. All of these factors make SHIB a very attractive investment at its current price point.
In addition, Shiba Inu is being traded in several countries around the world. Countries like Germany, Russia, and India have all shown interest in investing in SHIB by taking advantage of its fast and dynamic network. Over nine companies, including Amazon, have committed to burning SHIB to reduce its circulating supply. This move by Amazon is a huge vote of confidence in Shiba Inu and its native token, SHIB.
Shiba Inu is quite popular in Germany and is supported by many brokers and exchanges in the country. According to recent news, financial service provider Vivid Money has opened its doors to German users wanting to buy Shiba Inu coin on their platform. This is expected to boost the prices of SHIB in the near future. An article by CoinMarketBag predicts that SHIB could experience a 150% gain in Q4. While this is quite achievable given the low price of SHIB, it is essential to take such predictions with a grain of salt, as the overall market sentiment is still predominantly bearish.
Is it time to invest in SHIB again?
While SHIB has a lot of potential, it is essential to remember that the market is still in a bear cycle. The adoption and utility of SHIB have increased over the years, and this has fueled its resilience over the years. Before buying this coin, make sure you have confirmation like breakouts from a technical analysis perspective or favorable market news which suggest bullish sentiments.