Shiba Inu spiked in the indices after the crypto markets rallied this week reaching new monthly highs. Bitcoin climbed above the $20,000 mark while Ethereum reached $1,500 levels for the first time in 40 days since the Merge.
SHIB also moved in tandem with the markets printing decent gains of 10% since Monday. The dog-themed token was on the back foot last week after it briefly added an extra ‘zero’ in the indices but recovered in price as the markets rallied.
Also Read: $1,000 Investment in Shiba Inu Turns Into $19 Million in October 2022
The token barely rallied this year and mostly dipped or traded sideways for 10 consecutive months. However, that didn’t stop retail investors and whales from accumulating the token.
Both day-to-day investors and the ETH-rich list regularly purchased the dips on Shiba Inu throughout the year. This makes SHIB stand as an undisputed king in the crypto sphere as it attracts investors even when its price heads south.
Also Read: Will Shibarium Burn 100 Trillion Tokens? Shytoshi Responds
What Could Shiba Inu’s Price Be By the End of 2022?
The Finder’s panel recently updated their price prediction on Shiba Inu after the markets rallied this week. The panel predicts that SHIB will reach $0.00000959 (five ‘zeroes’) by the end of December 2022. The expert panel predicts that Shiba Inu will add an extra ‘zero’ this year and could face further corrections in the coming next months.
Also Read: Can SHIB Make You A Millionaire By 2030? Here’s Your Answer
The panel of experts also revealed that they are unsure what might be SHIB’s saving grace this year as most of their developments might not be launched by 2022. 56% of experts said they are “unsure” what could scale Shiba Inu’s price sustainably in the markets.
Also, only 9% of the Finder’s panel experts believe that the Shibarium layer-2 solution could make SHIB’s price shoot up.
Also Read: ShibaEternity Criticized by Community, Ask For Shibarium Instead
At press time, Shiba Inu was trading at $0.00001070 and is down 2.5% in the 24 hours day trade. The token is also down 87.6% from its all-time high of $0.00008616, which it reached in October 2021.