The year 2021 has seen the rise of memecoins like Dogecoin and Shiba Inu. The latter was launched to challenge the Dogecoin. The capitalization of SHIB is growing more and more and could exceed that of DOGE in the coming months.
The price of the Shiba Inu (SHIB) has dropped over the past five months and crypto experts say it could drop further.
It is currently in the same tight range it experienced in late January and February of this year.
At the moment, its biggest problems are a reduction in the number of transactions, a drop in the holder’s account and a drop in the price of the token.
Cryptocurrency revenue is down
The fall in cryptocurrency performance so far this year has discouraged many investors. However, its 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 was already trailing 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 its trade value, which has fallen nearly 75% since its all-time high last October.
A report published by Robinhood last month notes that the business activity among millennials that helped fuel the cryptocurrency boom is drying up.
Additionally, the analysis also reflects that cryptocurrency revenue decreased by 39%.
Another point to consider is that SHIB is considering the possibility of memecoins entering the metaverse space, as this would also strengthen cryptocurrencies.
The key breakout range for those eyeing an increase 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. See also: Crypto Decentraland (MANA): should you buy MANA? Opinion, analysis and prediction 2022.
Crypto SHIB: our opinion and prediction 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 prediction 2022. The project would therefore 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 Prediction
The Shiba Inu lacks big business or celebrity adoption for the cryptocurrency to once again perform stellarly.
The Shiba Inu is not limited to the meme and it is a good thing. His prominent projects make cryptocurrency remain promising.
Buy Shiba Inu (SHIBA) for trading
To trade this cryptocurrency, the eToro broker is the most suitable. In addition to buying the tokens, this platform allows you to trade short-term crypto CFDs without having to hold the tokens.
Step 1 : use the search bar of the eToro platform to find the cryptocurrency.
2nd step : then click on “Invest” to give the amount of cryptocurrency to buy and validate the transaction.
Buy the Shiba Inu to invest
To invest in this cryptocurrency by holding them in a wallet, go to the Binance platform.
Step 1 : go to the “Buy cryptos” tab then choose the payment method of your choice.
2nd step : select the crypto to buy and proceed to secure payment. Then, the cryptocurrencies will be credited to the dedicated wallet.
Read This article to find out how to buy cryptocurrency on Binance.
Useful resources for investing in the Shiba Inu (SHIBA)