Some investors and traders alike are even suggesting Shiba Inu is gearing up for a 100% increase in price at any time.

More and more Ethereum investors are focusing on Shiba Inu and are buying up massive amounts of the dog-themed token as it's recovering from its recent decline in price. Some investors and traders alike are even suggesting Shiba Inu is gearing up for a 100% increase in price at any time. We share this thesis for the time being, as Shiba Inu is very well positioned at the moment. One of the crypto whales heavily investing in Shiba Inu goes by the name of Gimli added 110 billion SHIB coins worth around US$3,62 million to his already big crypto portfolio containing a total of US$47,8 million worth of just Shiba Inu coins alone. At the beginning of 2022, Shiba Inu announced that it will be creating its own blockchain and a Decentralized Autonomous Organization (DAO). This puts Shiba Inu in the spotlight for investors and traders alike, as SHIB might drop its memecoin tag and become a high utility token.

2021 was an eventful year for many cryptocurrencies including Bitcoin, Ethereum, Dogecoin, Shiba Inu, etc. However, among the front-running tokens, SHIB scored big in the past year. Besides the long-term gains, the Dogecoin killer also recorded some whopping short-term profits that made investors go berserk. However, things have been dark for Shiba Inu in 2022. The cryptocurrency was fighting against the bearish trend that surmounted the whole market. Fortunately, Shiba Inu managed to break through the odds and recorded impressive growth in March. In the past week, it registered a 20% spike, according to CoinMarketCap data. On the other hand, ShibArmy is also trying its best to bring back SHIB into the spotlight. Constant burnings and newly-added features in the Shiba Inu ecosystem are expected to pump in more value this year. Therefore, investors are already staking up the Shiba Inu token before it could go on a 2021-like rally.

Remarkably, this Shiba rally in 2022 came as a big surprise to many crypto enthusiasts. Although SHIB didn't disappoint the investors despite the bear takeover, the market was not expecting the beginning of the bull run in March. Shiba Inu has now managed to pair up some of the losses made this year and is already above its 20 and 50-day exponential moving averages. Still, it has to keep up the pace to break its temporary resistance level. But according to predictions, SHIB could record a 100% spike this month.

Shiba Inu has introduced 'SHIB', its metaverse initiative. In an effort to compete with Decentraland, the community has unleashed SHIB to form a perceived virtual reality environment. It is aimed to create 'one of the strongest communities ever gathered in all of the crypto's history. Recently, Shiba Inu has made its debut in Netcoins, an online cryptocurrency brokerage that makes it easy to buy, sell, and hold cryptocurrencies in Canada. Besides, fashion brands including John Richmond have announced SHIB and LEASH burns to pump the value of the tokens. Anonymous whales are also purchasing Shiba Inu tokens in large numbers. On 30th March alone, over 621 billion SHIB have been secured by the top ETH whales.

There is a controversy regarding Shiba Inu about whether the meme coin will hit US$1 in the nearby future. SHIB is one of the top meme coins that have the attention of Ethereum whales to gain 11% as well as 24% in July 2022. The rise in the cryptocurrency price is bullish with barely a few neutral signs with an upward trajectory. Ethereum whales are adding SHIB tokens to their portfolios worth more than US$560 million— 22% of the total digital assets.

The cryptocurrency is performing well for SHIB investors for its major upcoming developmental projects. These development projects with the SHIB burn strategy are favoring the meme coin to be one of the favorite cryptocurrencies in the highly volatile crypto market. SHIB investors must expect Shibarium, the Layer-2, SHIB.io metaverse, SHI token, SHIBASWAP V2, and many more. The Shiba Inu management has launched the burning portal to reward the investors. It has successfully increased the meme coin price by creating pressure on the demand and supply of SHIB tokens. The total burnt from the initial supply is 410,374,396,897,090 or 410.37 trillion and the total supply is 589,625,603,102,909 in the cryptocurrency market.

Shiba Inu has announced the partnership with a visualization company as a long-term collaborator with Marvel known as The Third Floor. It will help to create and develop virtual environments and landmarks for the metaverse of Shiba Inu. There will be a rise in the memecoin price after the launch of these development projects in the cryptocurrency market. It creates a positive impact on the demand for the SHIB token to accelerate the rate of increase in the price for a short period. Now is the golden hour to invest in Shiba Inu to drive profit in the nearby future.