As SHIB drops 90% from its all-time high, what will the price of a Shiba Inu be? Is This the Right Moment to Begin Investing?

Shiba Inu (SHIB), the ERC-20 meme currency token which drives the Shiba Inu web3 ecosystem, was last trading at around $0.0000075, down more than 90% from its all-time highs in the 2021 range of around $0.000088.

The cryptocurrency token is currently ranging between $0.000007-8 and is a little under its 21- and 50-Day Shifting Averages (DMAs).

In June, Shiba Inu had a sharp value collapse as a result of the FUD generated by the US Securities and Exchange Commission’s (SEC) litigation against Coinbase and Binance. Its value dropped sharply from around $0.0000086 to more than two-year lows around $0.000006.

The corporation cited several blue-chip cryptocurrencies as securities in the cases, but did not include Shiba Inu.

SHIB has been able to improve by a whopping 25% from its lows.

However, year-to-date, the crypto token is down 7%, compared to year-to-date gains of 84% and 56% for bitcoin (BTC) and ether (ETH), respectively.

Certainly, with SHIB still in a clear decline from all-time highs, price forecasts remain negative, at least in the short to medium term.

Value Forecast: Where Will Shiba Inu (SHIB) Be in the Future?

When SHIB retests support-turned-resistance around $0.0000084, which generally corresponds with the downtrend from the all-time highs and the 100DMA, it may encounter significant resistance. If SHIB were able to break above its 21 and 50DMAs inside the $0.0000075-77 range, it may also encounter other significant obstacles.

Bears could even regard a bounce back to these levels as a fantastic opportunity to add to short positions in order to concentrate on a retest of the annual lows.

In fact, if SHIB were able to break over this crucial resistance area, it may be possible to set up a quick rally again to test yearly highs above $0.000016.

However, SHIB would encounter significant resistance on the road back to yearly highs around the 200DMA at $0.00001, which also corresponds with March/April lows, and around April’s highs near $0.000012.

SHIB Fails to Keep Up with the Blue-Chip Crypto Market Restoration

Despite this year’s recovery in other major cryptocurrencies like bitcoin and ether, Shiba Inu hasn’t seen a significant uptick.

On the one hand, that suggests that traders entering the market right now would still be « shopping for the dip » given that SHIB is still down more than 90% from its record levels.

But on the other hand, the crypto token’s inability to improve may be seen as a damning proof that investors are « moving on » from Shiba Inu to other and more exciting meme currencies, like Pepe.

If that’s the case, meaning that the Shiba Inu meme coin is truly losing popularity, it might spell bad news for SHIB.

However, the Shiba Inu company and development team continue to put up extraordinary efforts to provide the crypto token a purpose that will generate value over the long run.

SHIB Utility Group Construction – Is Now a Good Time to Start Investing?

Shiba Inu’s Ethereum layer-2 scaling solution, called Shibarium, has a live public beta, according to the project’s website.

By creating a new home for the development of ground-breaking new Shiba Inu-related projects, the alpha version of Shibarium, if it becomes live, may make it easier for the Shiba Inu ecosystem to develop. This will result in lower transaction fees and shorter transaction times.

Furthermore, the Shiba Inu staff is already working on some of these projects.

Since it went live, the ShibaSwap Decentralized Exchange (DEX) has allowed fans of the Shiba to trade SHIB, LEASH, and BONE tokens and earn passive income through token staking and liquidity mining.

ShibaSwap will also be used to trade the popular SHIBOSHIS collection’s non-fungible tokens (NFTs).

OpenSea will also be used to acquire the NFT assortment issued on the Ethereum network.

Shiba Eternity, a free-to-play collectable card game, and SHIB: The Metaverse, a dedicated decentralized Shiba Inu metaverse, are both being built.

Time will tell if the Shiba Inu ecosystem’s development will be sufficient to push SHIB back up to all-time highs.

It could be a good idea to start acquiring SHIB tokens right away for those who are hopeful about the ecosystem’s future.

Shiba Inu (SHIB): Something Unique to Consider – Wall Street Memes

The meme stock boom of 2021 propelled Wall Street Memes to fame as one of the most popular online groups for retail investors. More recently, the presale of its brand-new $WSM token has helped it gain ground in the cryptocurrency space.

Given the size of the Wall Road Memes group, the $WSM presale’s performance, which has garnered more than $13.8 million in just over a month, is not surprising.

Along with the 523k hyper-engaged group members on its wallstbets Instagram account, the group has 214k followers on Twitter and more than 100k followers across its two other Instagram channels, wallstgonewild and wallstbullsnft.

According to experts, Wall Street Memes has a social network of 1 million degens, which almost certainly assures that the $WSM token may be listed on top-tier cryptocurrency exchanges like Binance.

Airdrops to holders are likely to be somewhat expected to be a significant component of the ecosystem given that 30% of the token supply is being kept back for group incentives.

Undoubtedly, the primary $WSM airdrop is currently open.

Wall Street Memes is expected to have significant problems when it lists on exchanges, and you might be one of them, according to analysts.

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