The Shiba Inu token has seen massive hype over the past 2 years and has exploded in price during the recent bull run. Now the hype in the bear market has died down and the Shiba Inu is back out of the top 10 cryptocurrencies. Can the Shiba Inu explode again during the next bull run?
How much does a Shiba Inu cost?
At the time of writing (as of 8/4/2022) the price of the Shiba Inu is $0.0000118. This puts Mem Coin in 15th place among the most valuable cryptocurrencies by market capitalization. At its all-time high in October 2021, Shiba’s price was $0.00008. As a result, the Shiba Inu’s price has fallen more than 80% in the last few months.
How much did a Shiba Inu initially cost?
The price of the Shiba Inu was $0.00000000051 in August 2021, when the meme coin was launched. Thus, the coin has increased in value immensely in 2020 and especially in 2021. The early purchase has turned many investors who knew about the coin early into millionaires.
We saw the first peak price in March 2021 when the mem coin surged to $0.000035. As a result, the coin fell again in the spring and experienced a massive bull run in the fall of 2021, ending at an all-time high. As a result, the Shiba Inu suffered losses in the bear market.
How has the Shiba curriculum evolved over the past few months?
The Shiba Inu has lost over 80% in price in the last few months. This was mainly due to the start of the bear market, which resulted in losses for almost all major cryptocurrencies. Meme coins like Dogecoin and Shiba are also vulnerable to these market fluctuations.
By the end of 2021/2022, the coin had already lost over 50%, falling to $0.000034. These are stronger short-term losses than many other cryptocurrencies in the top 100. Surprisingly, the Shiba Inu was able to hold its own relatively well over the next few months. For example, the percentage loss is slightly higher than the loss in bitcoin price.
When can Sheba get up again?
In a bear market, cryptocurrencies, but especially meme coins, have a particularly difficult time. Due to the lack of hype about rising prices, there is a dearth of new, inexperienced and speculative investors to push the prices of these coins down. But so far, the Shiba Inu remains among the top 20 cryptocurrencies.
Most coins should rise again in the next bull market at the latest. But is the Shiba Inu one of them? Dogecoin has shown that a meme coin can be extremely successful even in 2 cycles. The next bull run will most likely start after the next bitcoin halving. This should happen in spring 2024.
Can a Shiba Inu grow to $1?
The Shiba Inu token saw a huge surge in the last bull run. For a coin to reach the dollar in value, we need to experience the same extreme bull run as we did in 2021. This does not appear to be the case as the bull run of new coins has weakened over the years. Therefore, a move to $1 is unlikely in a bull market.
However, in 2 chakras this vision can come true. This would require the price of Shiba Coin to increase by 100x in the next bull market and 100x in the following bull market. This is very realistic for a meme coin. However, there is still a risk of such a coin becoming stuck in price. For example, meme coins are riskier investments and far less stable than Bitcoin.
Should you invest in a Shiba Inu now?
At the moment, the price of the Shiba Inu coin is relatively low compared to the last few months. So getting into Mem Coin in 2022 is a logical step. However, a meme coin always carries a high level of risk, but it also carries the potential for huge price increases.
We believe that every balanced crypto portfolio should contain at least one meme coin. You can make a balanced investment in Dogecoin, Shiba, or both. In this article you will learn more about Dogecoin.
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