Is it the Right Time to Buy Shiba Inu?

Analysts have pointed out that the current low price of Shiba Inu could have created a great opportunity to buy the dip.

If you're looking at buying up crypto in 2022, the end of April has created a perfect opportunity to do so – if you're quick.

The current dip in the price of Shiba Inu and imminent launches in the EverGrow Coin ecosystem has created a buzz about each cryptocurrency. A recent study showed that Shiba Inu has overtaken Bitcoin when analysing Google Search data, while EverGrow Coin is appearing as a 'breakout' topic popular with the same users.

The high amount of traffic driving towards Shiba Inu and EverGrow Coin coincides with both a dip in the price of Shiba Inu and the imminent rollout of two key applications for EverGrow Coin.

It has been in the pipeline since EverGrow Coin launched in September, but the NFT marketplace is finally here. This week EverGrow Coin announced the name and branding for its LunaSky marketplace for NFTs. It means the new mechanism for passive income from NFTs could be right around the corner. 

The LunaSky marketplace is expected to launch crypto lending in Q2 with NFTs as collateral. LunaSky is the first NFT marketplace to do this and creates a new revenue stream to make money from NFTs without actually selling them.

Later in the year, EverGrow Coin will build its NFT marketplace (along with its other applications) into The Abstract metaverse. The Abstract offers the world's first virtual reality arcade of games built into a metaverse which is streamed on the cloud. To date, the estimated 50 million VR headset owners in the United States need to fork out upwards of $5,000 in extra computing power to access high-quality games.

The future-focused EverGrow Coin could soon see a spike in price from its current $0.0000004356 and a modest market cap of $200 million.

Time to buy the Shiba Inu dip?

Analysts have pointed out that the current low price of Shiba Inu could have created a great opportunity to buy the dip. In crypto terms, this means identifying when a cryptocurrency is at a low price and soon due for a rebound.

The price of Shiba Inu is currently $0.000022. This is one of its lowest prices so far this year, after opening 2022 with a price of $0.000034. The Shiba Inu price very briefly dropped to $0.000019 but that was on February 24 – the day Russia invaded Ukraine – when the whole crypto market experienced a sudden drop in price.

As one of the most popular crypto tokens on the market, Shiba Inu could be soon due for a rebound. This could make right now a great time to buy Shiba Inu – if you're quick! 

Disclaimer: The information posted in the article is for educational purposes only. By using this, you agree that the information does not constitute any investment or financial advice. Do conduct your own research and reach out to financial advisors before making any investment decisions.