Shiba Inu Price Analysis: Will Shiba Inu Drop Another Zero This Year?
Shiba Inu Price Analysis: Read our Shiba Inu price analysis and also know if Shiba Inu will drop another zero this year.
Shiba Inu’s price has been one of the lowest this year and from its all-time high price of $0.00008845, Shiba Inu is down over 80%. However, with the growing ecosystem of Shiba Inu, the Shiba Inu community including the Shib Army has been active to make sure Shiba Inu’s price surges and in near future loses a few more zeroes.
Shiba Inu Price Analysis: Will Shiba Inu Drop Another Zero?
Before we discuss will Shiba Inu drop another zero from its price this year, let us see the journey of Shiba as of now.
On December 31st, 2020, Shiba Inu was trading with 11 zeroes in its price and by the end of January 2021, Shiba Inu dropped three zeroes from its price and was trading with 8 zeroes.
By the end of March 2021, Shiba Inu had 7 zeroes to its value and in April 2021, after dropping two more zeroes, Shiba Inu was trading with 5 zeroes.
The last drop in the zero from the price of Shiba Inu came in the month of April and Shiba Inu was trading with four zeroes in its price. Since then Shiba Inu has failed to drop another zero from its price.
Shiba Inu’s Journey since December 2021:
December 31, 2020: Price: $0.000000000077
January 31, 2021: Price: $0.0000000050
March 31, 2021: Price: $0.000000056
April 30, 2021: Price: $0.0000020
October 27, 2021: Price: $0.000086
September 2022: Price: $0.0000120
In order to drop another zero from its price, Shiba Inu will have to gain around 70% every month from now. At the current price if Shiba Inu gains 70% a month up to December we may see Shiba Inu’s price at $0.00010 by the end of December 2022.
However, considering the current market condition, it is unlikely for Shiba Inu to drop another zero this year.
Shiba Inu Price Analysis: How Did Shiba Perform In 2022?
In 2022, Shiba Inu’s journey has been one of the worst. The surge of 2021 gave an impression of Shiba Inu losing a few more zeroes in 2022. However, the market condition and other macro factors like growing inflation, Russia-Ukraine War, and rate hikes by US Fed have kept the price of all the cryptos including Shiba Inu very low.
In 2022, the most awaited Robinhood listing of Shiba Inu took place. However, the price of Shiba Inu could not rise higher as per expectation and in the month of July, the price of Shiba Inu went below $0.000010 and added one more zero to its price.
Shiba Inu has recovered to some extent since then but the price of Shiba Inu is still very vulnerable and the fear of crashing below $0.000010 once again remains very high.
Shiba Inu Price Analysis: Conclusion
The current market condition does not indicate much improvement in the price of Shiba Inu this year. For Shiba Inu to drop another zero from its price, it will have to gain around 70% every month. However, it is very much unlikely to happen this year.