Shiba Inu Price Analysis – Understanding Market Trend.

Shiba Inu Price Analysis – Understanding Market Trend.

2022-07-10 | Selina Mathew

Shiba Inu Price Analysis – Understanding Market Trend.

Introduction

Shiba Inu is a cryptocurrency that's currently the subject of meme trading, which is exactly what it sounds like. When people trade Shiba Inu or SHIB, they're buying and selling based on the value of the meme itself and not any inherent value in the technology. In this way, Shiba Inu trading volume is similar to Dogecoin's trading volume.

However, Shiba Inu does have one major difference: it launched with an uncapped supply of 1 quadrillion coins—yes, that's right: 1 million billion—and only 50% of those coins will ever be available for purchase.

Since launching this month as an Ethereum-based ERC-20 token (a type of digital asset stored in a wallet), SHIB price has skyrocketed from $0.000000000082 to over 705199.55% ROI, at the press time. At the reporting time, SHIB is presently trading at a price around $0.00001138, which is +0.13% up for the day.

While some might argue that this price is a bubble, it remains to be seen how far this trend can continue as more users flock to the meme token. SHIB price continues to rise as traders flock to the coin for fun and profit.

The price of SHIB continues to rise as traders flock to the coin for fun and profit. Many people are buying SHIB simply because they enjoy trading it, but some are also using it as an investment tool. The fact that so many people are buying SHIB is a good sign for the future of this coin.

Shiba Inu Price Prediction Analysis

SHIB/USD 1 DAY PRICE CHART: COINMARKETCAP.COM

We hope you enjoyed reading this article. If you’re looking for more details on the Shiba Inu price prediction, you can always visit our website page exclusive for Shiba Inu price prediction till 2050.

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