- Shiba Inu had been at high risk during the crypto winter.
- The investors anticipate a fast recovery of the token.
- Token shows a positive growth according to the recent analysis.
Shiba Inu, the decentralized token, had been at risk during the past few months of crypto winter with a continuous decline in its price. Despite its fall, the investors are keenly waiting for an opportunity to regain the bullish price of Shiba Inu in 2021.
On September 25, Shibu Inu tweeted regarding the optimism of its investors on the recovery of the token regardless of the “market’s weakness”:
Despite the crypto market’s sluggish condition, $SHIB investors are optimistic that it will recover and ignore the market’s weakness.LIKE ReTweet Secure your Future! $TREES $BONE $LEASH #ShibainuCoin #SAFETREES @Trees_token #Shibhttps://t.co/VgzKtW5iRy
— Shiba Inu (@ShibainuCoin) September 25, 2022
Recently, the developers of Shiba Inu tried to create a more viable ecosystem with the help of the aids such as the metaverse and decentralized finance (DeFi). But, there was also a drop in the interest in Shiba Inu, which characterized meme cryptocurrencies during the last year’s meteoric rise.
According to CoinMarketCap’s price estimation on September 30, the crypto community craves for Shiba Inu to trade at an average of $0.000013 by the end of October. Almost 6100 community members voted to estimate the anticipation. Consequently, there was a sudden hike of 20% in Shiba Inu’s price.
Shiba Inu Price Chart
Though there was a bullish sentiment around the token and a resulting correction period that lasted many weeks, the platform’s entry into the non-fungible tokens (NFTs) and gaming space had drawn optimism among the traders.
Notably, the SHIBOSHIS project, an initiative by Shiba Inu, with a collection of NFTs to provide the holders a platform to participate in NFT minting and trading, digital land acquisition, and VR gaming, helped in gaining immense attention from the crypto community.
Consequently, Shiba Inu’s status was elevated. With the token-burning mechanism, over 410 trillion tokens had been burnt. An increased whale activity of Shiba Inu also showed the tendency towards a bullish period.
Additionally, WhaleStats tweeted earlier this week, that Shiba Inu was most held among 1000 ETH whales. The crypto community waits to see what the future of this coin holds.
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