Shiba Inu Price Prediction as $130 Million Trading Volume
The central ERC-20 token of the Shiba Inu crypto ecosystem, SHIB, which was inspired by dog meme coins, was last trading nearly flat on Wednesday in the $0.00000915 region, not far from its 21-Day Moving Average of $0.00000919. Despite trading volumes reaching $130 million in the past day, according to CoinGecko, the cryptocurrency is still trading in a subdued manner. This is in line with the general mood of the crypto market on Wednesday, as many traders are keeping their options open before the release of the Fed’s most recent interest rate decision at 1900GMT/1400EST.
The tranquil price movement of SHIB contrasts sharply with that of the previous two sessions. SHIB/USD fell as low as $0.00000840 on Monday as concerns over Binance’s financial stability spread throughout the cryptocurrency market. Following Tuesday’s softer-than-expected US inflation data, which allayed concerns about how aggressively the Fed will continue to tighten financial conditions in the coming months, the cryptocurrency market rose along with the broader market.
SHIB has gained or lost 11% overall between Monday’s lows and Tuesday’s highs in the $0.00000930 range. Longer-term price forecasts, however, are still negative due to SHIB’s poor technical performance.
Price Prediction – More SHIB Downside Coming?
Since FTX’s demise at the beginning of last month, SHIB has been unable to maintain above any of its significant moving averages, with the 50DMA serving as especially potent opposition in the early days of December. In fact, the fact that all of SHIB’s significant moving averages are still pointing downward indicates that the negative momentum is still strong. SHIB is now being held above the $0.00000820-40 region by buyers, although the cryptocurrency is still in a longer-term downturn. Some bears may continue to pursue a test of the annual lows near $0.000007 while others may continue to sell rallies toward $0.000010.
Can SHIB Hit $1?
According to TradingView citing Binance statistics, SHIB’s main rival and “older brother” Dogecoin came very near to surpassing $1 in 2021, peaking at roughly $0.7605. Shiba Inu might surpass Dogecoin and become the first memecoin to reach $1. Unlikely without a drastic decrease in the availability of SHIB. Let’s examine the figures.
Dogecoin’s market value was close to $100 billion at its all-time high. It would be a significant accomplishment for SHIB to reach a market value of $100 billion, which would result in an approximately 19x rise in its price. Accordingly, SHIB would require a price of around $0.00017 to reach a market value of $100 billion.
The market capitalization would be $550 trillion if SHIB price were to reach $1.0, considering the current supply of almost 550 trillion SHIB tokens. That is over six times the market capitalization of the whole global stock market at the moment. Not likely to occur. SHIB can only reach $1 through drastic token supply decrease.
Altcoins Offering Quicker Returns
Since cryptocurrencies have been trading sideways for a few weeks, some traders have begun considering alternatives that offer better short-term prospects. The market’s top presales include some of those that are listed below, allowing investors to participate first.
Dash 2 Trade (D2T) – Presale Enters Final Stage
Dash 2 Trade is the only option for anyone looking to invest in a budding cryptocurrency trading platform. With its array of distinctive features, the emerging analytics and social trading platform aspires to completely dominate the cryptocurrency trading market.
A pre-sale token scoring system, a token listing alert system, trading signals, social sentiment and on-chain indicators, and a tool for back-testing strategies are some of these. The D2T token, which users must purchase and keep in order to use the platform’s functionalities, will fuel the Dash 2 Trade ecosystem.
A substantially reduced token pre-sale is being held by Dash 2 Trade, and sales have topped $9.7 million. The development team is currently ahead of schedule, thus the pre-sale dashboard will be launched on Friday. The price of each token is now $0.0533, and they will be published on a number of centralised exchanges in about a month.
Calvaria (RIA) – Final Presale Stage Now
In 2022, popular blockchain games like Axie Infinity experienced severe traction loss. Because of this, a lot of investors who are interested in the crypto gaming industry are looking for alternatives. A good substitute would be the upcoming play-to-earn battle card game Calvaria. By building a connection between the real world and crypto, Calvaria hopes to increase the uptake of the digital currency.
Investors ought to think about the RIA token pre-sale from Calvaria. With the recent acquisition of $97.5K by a crypto whale, Calvaria has already raised $2.44 million. Only 21% of the tokens are still available in the last phase of the presale.
Gamers can play as robots in RobotEra (TARO), a Sandbox-style Metaverse, and take part in developing its virtual world, which includes NFT-based land, structures, and other in-game goods. It also intends to allow players to connect with other metaverses, resulting in the creation of a multi-verse where NFTs from various platforms can communicate with one another. It is scheduled to launch in an alpha version in the first quarter of the following year.
The price of 1 TARO is now 0.020 USDT (it can be purchased with either USDT or ETH), but it will increase to $0.025 in the second round of its presale. Over $545K has now been raised for the project in the few weeks since the pre-sale began.