Sunday, October 1, 2023
Bitcoin - Altcoin News
No Result
View All Result
  • Login
No Result
View All Result
Bitcoin News
No Result
View All Result
Home News Altcoin News

Will Price of Shiba Inu Coin (SHIB) Hit A New All Time Low In 2023?

news by news
December 19, 2022
in Altcoin News, News, SHIB Price, Shiba Inu (SHIB)
0
Will Price of Shiba Inu Coin (SHIB) Hit A New All Time Low In 2023?
0
SHARES
80
VIEWS
Share on FacebookShare on Twitter

READ ALSO

FTX Exploiter Moved A total of Over 10,000 ETH In Last 24 Hours

Just In: DOJ to Summon FTX Clients, Investors, and Employees in SBF Case

Shiba Inu Coin (SHIB) Price

According to a popular cryptocurrency trader, whose predictions and assessments have previously turned out to be true, now predicts that the price of Shiba Inu Coin (SHIB) would hit a new low in 2023. He further cites that the SHIB coin will eventually fall to a price of $0.00008616.

SHIB’s Dismal 2022 Performance

The pseudonymous crypto trader who goes by the Twitter handle CryptoCapo has painted a rather gloomy picture for the viral meme cryptocurrency which comes second to its predecessor, Dogecoin, in market capitalization.

$SHIB should make new lows as well pic.twitter.com/Pw8T0oGVPL

— il Capo Of Crypto (@CryptoCapo_) December 19, 2022

The year 2022 has been a predominantly dismal one for SHIB, as the token’s value dropped by more than 70% due to rising interest rates and ongoing turmoil in the internal market.

Read More: SHIB Burn Rate Skyrockets Over 250% In Past 24 Hours

In October of 2021, the price of SHIB skyrocketed to a new all-time high. However, due to the unfavorable macro climate and the instabilities in the domestic market, everything went from bad to worse for SHIB holders from that point onwards.

Shiba Inu’s Growth Plans

Despite the poor performance of SHIB tokens and the extremely pessimistic sentiment prevailing in the crypto community, there have been many significant attempts by the project and its community to drive utility and bolster newer use cases.

From launching the SHIB Metaverse, the Layer-2 Blockchain solution called Shibarium and the recently announced Shiba Racing Game, which is based on the P2E model.

Read More: Shiba Racing NFT Launch; All About SHIB Metaverse P2E Game

The racing game will also come with its own set of NFTs and the team plans to host the Grand Prix competitions on its metaverse, where players from around the world can take part to win crypto rewards.

Time To Enter Shiba Inu (SHIB)?

While the declining prices have impacted the overall sentiment, some experts think that it to be a good moment for investors to reinvest, enjoying the lower valuations across assets.

Read More: Here’s Shiba Inu Price Analysis Guide For The Coming Week

They anticipate that the U.S. Federal Reserve will adopt a more dovish monetary stance, rekindling investor interest in risky assets.

Also, technical analysis of the SHIB token indicates signs of a trend reversal in the near short term, while the consolidation phase is expected to extend for a few more days.

Also Read: Here’s Why Shiba Inu Coin Sees A 10% Jump in Near Future

The post Will Price of Shiba Inu Coin (SHIB) Hit A New All Time Low In 2023? appeared first on CoinGape.

Related Posts

24/7 Cryptocurrency News

FTX Exploiter Moved A total of Over 10,000 ETH In Last 24 Hours

October 1, 2023
24/7 Cryptocurrency News

Just In: DOJ to Summon FTX Clients, Investors, and Employees in SBF Case

September 30, 2023
24/7 Cryptocurrency News

Breaking: Brazil Launches Blockchain-Powered National Digital ID

September 30, 2023
24/7 Cryptocurrency News

Just In: DALL-E 3 Ignites Artistry Rebirth via Bing Creator AI

September 30, 2023
24/7 Cryptocurrency News

US Treasury Secretary Sounds Alarm on Possible Recession in Case of Government Shutdown

September 30, 2023
24/7 Cryptocurrency News

Breaking: Vitalik Buterin Charts Path to Decentralized Ethereum Staking

September 30, 2023
Next Post
Popular Analyst Predicts Bitcoin (BTC), ETH, ADA, LINK Price For New Year 2023

Popular Analyst Predicts Bitcoin (BTC), ETH, ADA, LINK Price For New Year 2023

POPULAR NEWS

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

December 7, 2022
Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

December 7, 2022
Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

December 17, 2022
Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

December 7, 2022
Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

February 28, 2023

EDITOR'S PICK

Terra Luna Classic (LUNC) Proposal For USTC Burn By Binance Officially Passed

September 20, 2023

Breaking: FTX Founder Bankman-Fried Appeals Pretrial Detention Ruling

August 28, 2023

Bitcoin (BTC) Eyeing First Monthly Drop for 2023, What’s Next? | Coingape

May 31, 2023
Will This Latest Development Take Cardano (ADA) Price Past $1?

Will This Latest Development Take Cardano (ADA) Price Past $1?

April 13, 2023
Bitcoin - Altcoin News

© 2022 coingger.com

Navigate Site

  • Europe
  • Exchange
  • Elon Musk
  • ETH Price
  • crypto Tax U.S.
  • CZ
  • Crypto Miners
  • BTC Price
  • ChatGPT
  • China crypto
  • Coingecko
  • Binance Smart Chain
  • Bitcoin $100K
  • Airdrop

Follow Us

No Result
View All Result
  • Homepages
    • Home Page 1

© 2022 coingger.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In