The crypto market has been running the gauntlet since the start of 2022, racking up losses on top of losses week after week. In recent days, however, things seem to be reversing; Bitcoin seems to have found a price floor at the bottom of its long decline. Its resurgence, coupled with that of Ethereum, has positioned the market for the new high.
The crypto market has been running the gauntlet since the start of 2022, racking up losses on top of losses week after week. In recent days, however, things seem to be reversing; Bitcoin seems to have found a price floor at the bottom of its long decline. Its resurgence, coupled with that of Ethereum, positioned the market for success at the start of the week.
In terms of price activity, Shiba Inu, on the other hand, is perhaps the best performing cryptocurrency. This morning, the cryptocurrency is gaining a lot of traction, prompting many Shiba Inu price predictions.
SHIB’s price hit highs in mid-January
As per Coinmarketcap the meme coin SHIB is currently trading at $0.00003471, its highest level since Jan. 18, as the cryptocurrency market sees renewed buying interest. SHIB price fell almost 80% from its all-time high of $0.00008870 before the retracement.
The Shiba Inu performed admirably when the rest of the market struggled. As the market rebounds and becomes more confident, SHIB prices rise. Over the past two weeks, the altcoin of choice has seen a 75% increase. About a quarter of that is now accounted for.
As a result of this uptrend run, SHIB was able to add significant market value to its name. In just two weeks, the market value of the project had increased by $4.5 billion.
As February approaches, the initiative promises more details about its huge metaverse project. The “Shiberse”, which was developed in partnership with Playside Games in Australia, will be a major driver.
He is also working on a few other projects that investors want to see completed by the end of the year. Most notable is the “Shibarium” Layer 2 network that the developers aim to establish; this will give developers more flexibility to run and users more scalability on transactions.
Will the Shiba Inu reach new heights?
With all of these projects in the works, Shiba Inu owners have a lot to look forward to in 2022. SHIB bulls are expressing their faith in the future on Twitter as the cryptocurrency continues to soar this morning.
Will Shiba Inu owners be able to reap the great riches they seek from this? Is this the end of the road for SHIB’s growth? Let’s take a look at some Shiba Inu price predictions to see what the experts have to say:
- SHIB is now trading at $0.000034. By the end of 2022, Coin Price Forecast predicts that the price of the currency will have doubled to $0.00006.
- According to Digita lcoin, Shiba Inu’s rise will be limited for the rest of the year, with a maximum gain of $0.000043.
- According to Wallet Investor, the cryptocurrency will be worth $0.000062 in 12 months.
- Gov Capital is the most positive, predicting that by February 2023, SHIB will drop to zero and hit a high of $0.00011.