Shiba Inu is deemed an iconic crypto coin for multiple reasons. Firstly, its 2021 price rally is still fresh in the minds of people, keeping them glued to the coin in anticipation of another major price rally. But will Shiba Inu (SHIB) truly be able to turn the tables around for good?
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Shiba Inu: Small to Big Gains
Shiba Inu is currently trading at a $0.000006 price mark, down 59% in a year. With the bear market momentum dominating the markets, SHIB is now trying its best to stay afloat, all while trying to surge ahead to rally hard. In the middle of this, Shiba Inu holders are also anticipating a miracle rally, mirroring its 2021 price surge and peak. This momentum is truly possible with the help of certain factors, provided they run in sync with the market’s growing competitiveness.
For instance, Shiba Inu’s biggest power is its ability to move beyond its memecoin identity. This identity was shed long back to evolve into a full-fledged ecosystem, with its supply and demand narratives being governed by a burning mechanism. In addition to this, the token’s later two blockchains, Shibarium, and its success in launching various collaborations are some of the reasons why SHIB survived elegantly in the market after crossing multiple barriers.
Moreover, altcoin rotation is another big deal, which is compelling investors to hold on to the asset. While the tokens’ large circulation numbers may not help Shiba Inu hit the ultimate $1 mark, the weakening of the US dollar with macro developments may help increase the investors’ risk appetite. This can help SHIB gain a significant uptick. Possibly, as it’s deemed as one of the most promising coins to trade in the market to date.
A Future to Look Forward To?
Apart from such new SHIB narratives, Javon Marks, a notable crypto expert, has long been advocating for a rise in the Shiba Inu price pattern. According to Marks, SHIB is printing a new price pattern in the background. This may help it gain the $0.000032 price level. If this happens, then an investor may very well earn a sizable return on investments made in SHIB at present times. However, one should also note that cryptocurrency markets are subject to intense volatility. Investors should exercise discretion before making any investment-related decisions.
“Price breakout has followed the bullish divergences in $SHIB! An over 246% run to the $0.000032. Divergence targeted area can be getting initiated here with the price breakout and additional bull divergence… (Shiba Inu).”
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