Has The Turning Point of Shiba Inu Coin Price Rise Come?
2022-03-30 10:13:23
Will Shiba Inu Reach 1 Cent In 2022?
This week started with Bitcoin going all the way up, and surpassing $47,000. Many investors are bullish and predict that the price could break $50,000 in the first half of 2022. However, in addition to the more stable Bitcoin and Ethereum in the cryptocurrency market, many tokens are also quietly rising, including the Shiba Inu coin.
Shiba Inu coin, which has risen 17.90% in 7 days, gained 4.40% in 24 hours. The current price is $0.00002705 and the volume in 24 hours is $3.65billion. 103,140,591 were traded in 24 hours on the international digital currency trading platform Gate.io.
What Are The Turning Points Affecting The Price Rise of Shiba Inu Coins?
1. The SHIB Army Is Burning Tokens
The SHIB Army announced in a post on Twitter that they had burned 2,604,802,620 Shiba Inu tokens and 191 transactions in 7 days on March 27th. All of this constant burning is an attempt to reduce the supply of Shiba Inu coins in circulation, making the tokens more scarce and increasing the number of potential investors buying Shiba Inu coins.
In addition to the Shiba Inu Coin Burning Army, three other companies, which are Italian burger chain Welly's, fashion brand store John Richmond and pizza chain Sorbillo, are also burning some of their Shiba Inu coins through NOWPayments.
2. Shiba Inu Coin Listed on Canadian Cryptocurrency Platform Netcoins
Netcoins is the first fully regulated public cryptocurrency trading platform in Canada. The platform has listed Shiba Inu coins in recent days, which will also have quite an impact on the price of Shiba Inu coins and increase the number of potential investors to buy Shiba Inu coin.
3. Whale's Massive Purchase of Shiba Inu Coin
According to Gate.io data, the price of the Shiba Inu coin has fallen as low as $0.00002358 in the past 30 days, a drop of about 7%. And while there were about 1,199,789 holders at the time, now the number is 1,138,243, a relative decrease of more than 60,000 holders or a loss of about 4.8% from before. And all this attracted the whales to start investing a large amount of cumulative Shiba Inu coins. The total amount is up to 5 trillion SHIB, with a single transaction of up to 271,370,420,630 SHIB, worth $65,000.
Is It Possible for The Price of Shiba Inu Coins to Rise to $0.1?
We need to know that the current price of Shiba Inu coin is $0.000027, if it were to rise to $0.1 this would mean that the price of Shiba Inu coin would have to increase by 3703%. This is a hugerate of increase.
Shiba Inu coin is an ERC-20 token used only for transactions or payments. The inability to have a hosted decentralized application will limit the future growth of Shiba Inu Coin. The Shiba Inu coin team is also working on a second-layer solution to ease transactions and reduce transaction fees. With the current upward trend of Shiba Inu Coin and the upcoming opening of virtual land purchases in the metaverse, its value may fluctuate as a result. However, investors are advised to consider the risk carefully before purchasing.
This week started with Bitcoin going all the way up, and surpassing $47,000. Many investors are bullish and predict that the price could break $50,000 in the first half of 2022. However, in addition to the more stable Bitcoin and Ethereum in the cryptocurrency market, many tokens are also quietly rising, including the Shiba Inu coin.
Shiba Inu coin, which has risen 17.90% in 7 days, gained 4.40% in 24 hours. The current price is $0.00002705 and the volume in 24 hours is $3.65billion. 103,140,591 were traded in 24 hours on the international digital currency trading platform Gate.io.
What Are The Turning Points Affecting The Price Rise of Shiba Inu Coins?
1. The SHIB Army Is Burning Tokens
The SHIB Army announced in a post on Twitter that they had burned 2,604,802,620 Shiba Inu tokens and 191 transactions in 7 days on March 27th. All of this constant burning is an attempt to reduce the supply of Shiba Inu coins in circulation, making the tokens more scarce and increasing the number of potential investors buying Shiba Inu coins.
In addition to the Shiba Inu Coin Burning Army, three other companies, which are Italian burger chain Welly's, fashion brand store John Richmond and pizza chain Sorbillo, are also burning some of their Shiba Inu coins through NOWPayments.
2. Shiba Inu Coin Listed on Canadian Cryptocurrency Platform Netcoins
Netcoins is the first fully regulated public cryptocurrency trading platform in Canada. The platform has listed Shiba Inu coins in recent days, which will also have quite an impact on the price of Shiba Inu coins and increase the number of potential investors to buy Shiba Inu coin.
3. Whale's Massive Purchase of Shiba Inu Coin
According to Gate.io data, the price of the Shiba Inu coin has fallen as low as $0.00002358 in the past 30 days, a drop of about 7%. And while there were about 1,199,789 holders at the time, now the number is 1,138,243, a relative decrease of more than 60,000 holders or a loss of about 4.8% from before. And all this attracted the whales to start investing a large amount of cumulative Shiba Inu coins. The total amount is up to 5 trillion SHIB, with a single transaction of up to 271,370,420,630 SHIB, worth $65,000.
Is It Possible for The Price of Shiba Inu Coins to Rise to $0.1?
We need to know that the current price of Shiba Inu coin is $0.000027, if it were to rise to $0.1 this would mean that the price of Shiba Inu coin would have to increase by 3703%. This is a hugerate of increase.
Shiba Inu coin is an ERC-20 token used only for transactions or payments. The inability to have a hosted decentralized application will limit the future growth of Shiba Inu Coin. The Shiba Inu coin team is also working on a second-layer solution to ease transactions and reduce transaction fees. With the current upward trend of Shiba Inu Coin and the upcoming opening of virtual land purchases in the metaverse, its value may fluctuate as a result. However, investors are advised to consider the risk carefully before purchasing.
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