The year 2021 has seen the rise of memecoins such as Dogecoin and Shiba Inu. The latter was launched to challenge the Dogecoin. SHIB’s capitalization continues to grow and could surpass DOGE’s in the coming months.
The price of the Shiba Inu (SHIB) has fallen in the past five months and crypto experts say it could fall further.
It is currently in the same tight range as the end of January and February of this year.
At the moment the biggest problems are a reduction in the number of transactions, a decrease in the holder’s account and a decrease in the price of the token.
Cryptocurrency Revenue Has Fallen
The decline in cryptocurrency performance so far this year has discouraged many investors. However, the vulnerable point is the lack of utility to grow the project.
Although Shiba Inu joined Robinhood in April, it was only enough to boost his price and trading activity as he already lagged a first quarter of the year with a 70% drop in his trades recorded in the cryptocurrency.
In March alone, SHIB transactions fell from 329,893 to 216,260, negatively impacting the trade value, which has fallen nearly 75% since its high in October last year.
A report from Robinhood last month notes that the business activity among millennials that fueled the cryptocurrency boom is drying up.
In addition, the analysis also reflects that cryptocurrency revenues have fallen by 39%.
Another point to consider is that SHIB is considering the possibility of memecoins entering the metaverse space as this would also bolster cryptocurrencies.
The key breakout range for those watching a rise in Shiba Inu price is a daily close at or above $0.000026.
Shiba Inu (SHIBA) course: what is the current price?
Here is the live course of the Shiba Inu. Also see: Crypto Decentraland (MANA): Should You Buy MANA? Opinion, analysis and forecast 2022†
Crypto SHIB: Our Opinion and Forecast for 2022
The Shiba Inu can go far by integrating DeFi. This may interest you: Crypto IoTeX (IOTX): Should You Buy IOTX? Opinion, analysis and forecast 2022† So the project would combine business with pleasure; or rather the useful as a joke!
Price Volatility Notice
The price of SHIB is still very volatile compared to Dogecoin.
The Shiba Inu came down to: attractive prices and has more rebound capacity than Dogecoin.
Long term SHIB price forecast
The Shiba Inu lacks the adoption of big companies or celebrities to make the cryptocurrency perform fantastic again.
The Shiba Inu is not limited to the meme and it is a good thing. His prominent projects ensure that cryptocurrency remains promising.
Buy Shiba Inu (SHIBA) to trade
To trade this cryptocurrency, the eToro broker is best suited. In addition to buying tokens, this platform allows you to trade crypto CFDs in the short term without having to hold onto the tokens.
Step 1 : Use the search bar of the eToro platform to find the cryptocurrency.
2nd step : Then click “Invest” to enter the amount of cryptocurrency to buy and validate the transaction.
Buy the Shiba Inu to invest
To invest in this cryptocurrency by investing them in a wallet, go to the Binance platform.
Step 1 : Go to the “Buy cryptos” tab and then choose the payment method of your choice.
2nd step : select the cryptocurrencies to buy and proceed to secure payment. Then the cryptocurrencies are credited to the special wallet.
Read This article to find out how to buy cryptocurrency on Binance.
Useful Resources for Investing in the Shiba Inu (SHIBA)