The price of Shiba Inu has fluctuated a fair amount through the summer of 2022. Heading into September, holders are curious how bullish or bearish the price of SHIB can become.
Shiba Inu price currently auctions at $0.00001204, which is a sharp decline over the past seven days’ moving average. As we begin September, here’s our price prediction for Shiba Inu this month.
Shiba Inu Price September 2022: Prediction
According to Santiment’s Daily Active Addresses, SHIB has seen a significant recent uptick in active daily addresses. The increase is from 4,600 to about 6,200. This may signify holders onboarding their coins to exchanges, in hopes to sell very soon. Hence, a slight drop in price.
Additionally, millions of tokens entered the market in August which were previously dormant. According to the indicator, 130 million tokens that had never been moved in the last two years were suddenly transferred. A rise in circulating tokens typically means crypto sell-offs are coming, which is a worrying sight for SHIB holders.
Lastly, Shiba Inu price saw an increase in social media presence towards the end of the summer, with its upcoming game Shiba Eternity and users burning millions of SHIB in August. With all of these factors, SHIB can be approaching a major decline in September, after riding high in August.
An estimate of how low SHIB can get in September is $0.00000976, which was July’s low. Invalidation of the bearish thesis is a breach just above $0.00001700. This can set up another rise at the end of September, however, it is just speculation.