Shiba Inu to Turn Bullish by June 30th: CoinMarketCap Votes

Paigambar Mohan Raj
Source: Pexels

Shiba Inu (SHIB) is expected to have a positive trend by the end of June, according to the crypto community at CoinMarketCap. More than 18,400 members of the community have cast their votes, with a majority in favor of SHIB turning bullish by June 30th.

SHIB will trade at an average of $0.00002654 by the end of June 2022, according to the majority of respondents. For July 2022, 11,000 individuals anticipate a price of $0.00002546 or somewhat below that level.

CoinMarketCap is one of the largest and most widely used crypto ticker platforms out there. The voting results clearly show Shiba Inu’s immense popularity and the expectations people hold of it.

Additionally, according to Shibburn, in the past 24 hours, 201,786,888 SHIB tokens were burned over 17 transactions. The burn portal was launched in late April of this year and has so far burned a total of 410.34 billion Shiba Inu tokens.

A point worth mentioning is that SHIB’s current burn rate is down by 57.83%.

Source: Shibburn

Shiba Inu (SHIB) lost 99% of its value on May 12, 2022, falling to $0.00000907. Crypto investors and speculators are ecstatic about its recent rebound from the depths.

Additionally, despite being in a bearish trend, SHIB continued to break records in its number of token holders. The period from late April to late May saw 30,000 new wallet holders, which points to a rejuvenated interest in the dog token.

At press time, Shiba Inu (SHIB) was trading at $0.00001111, up by 2.2% in the last 24 hours. Moreover, the token is up 4.3% in the last 7 days. But it still has a lot to recover as it is down 45.3% on the monthly charts. SHIB is also 87.1% down from its all-time high of $0.00008616, which it attained on the 28th of October, 2021, almost 7 months ago.