Shiba Inu is All Set to Reach US$0.000017 this July! But Won’t Break Past That
Experts are hopeful that Shiba Inu might end this year after generating massive profits
Over the past couple of years, cryptocurrencies seemed to have overshadowed traditional investment assets as more and more investors flock towards investing in these digital currencies. There are various categories of cryptocurrencies in the market with Bitcoin and Ethereum reigning as the top and the most trustworthy investments, but there are also other tokens that have yielded massive gains over the past couple of years, and Shiba Inu is definitely one of them. The SHIB token generated jaw-dropping profits and has set extreme records that clearly demonstrated that crypto became one of the most profitable investments in the market. Shiba Inu delivered approximately more than 45,000,000% gains in 2021, according to reports. But right after the crypto market meltdown, the Shiba Inu price fell and kept struggling to find resistance to support its value. Currently, the market is on its recovery journey, as major cryptocurrencies try to find a balance, quite similarly Shiba Inu is also struggling to raise its market value. Recent Shiba Inu price analysis reports have revealed that the crypto might soon outperform major altcoins in 2022.
The year 2021 was historic for Shiba Inu as the crypto gained massive profits, this is one of the many reasons why analysts had expected that SHIB would end 2022 after hitting the US$1 resistance. But instead, Shiba Inu’s price tumbled down along with several other cryptocurrencies. After its prices plummeted, investors were also worried about the crypto’s future prospects since it yields fewer real-world use cases than its rival cryptocurrencies. SHIB developers have been working hard to generate more utilities for the crypto and enhance its market dominance. All these factors put together have formed a favorable framework that is attracting more SHIB investors. According to reports, at the time of writing this article, the crypto’s price is ranging within the US$0.0000107 resistance. Analysts say that its price will reach the US$0.000017 mark, but might not exceed it!
Shiba Inu’s Short-Term Spikes Seem Profitable
Experts predict that the crypto’s short-term spikes appear quite promising for bulls. The SHIB/USD duo recently broke its previous downtrend barriers as its value has been stuck since the last week of June. The pair has also realized support from an uptrend that has been operative since mid-June. These small trends in its prices demonstrate that crypto is slowly moving towards a more stable future.
For a long time, Shiba Inu has been viewed as a mere asset that is to be collected, owing to its lack of utility. It is one of the most volatile assets in the market since crypto is affected by the smallest changes in market sentiments. But it is quite definite that Shiba Inu is massively driven by FOMO. Investors are well-aware of the fact that the token does have the potential to exponentially rise in the future. Hence, they do not wish to miss out on the profit opportunities that the crypto might present itself with after its market actions get bullish again.
So, should you buy Shiba Inu right now?
SHIB is a volatile cryptocurrency, as are all digital assets. Earlier, the token did not add much utility to the DeFi ecosystem, but right now, Shiba Inu has become quite a lucrative investment opportunity. Investing in SHIB is extremely risky, but it could skyrocket anytime! Hence, if you wish to jump on to try out the trends yourself, then investing in Shiba Inu would be the right move. But volatility-fearing investors can resist further investing in any cryptocurrency at this given point in time.
