Compared to other cryptocurrencies in the market shiba inu also fell victim to the prolonged bear market in 2022. However, in terms of developments and new projects, SHIB was ahead of other meme coins.
Several unforeseen events that occurred in 2022 have severely impacted the cryptocurrency world. However, investors seem to forget 2022 quickly as 2023 is expected with optimism.
SHIB price forecast for 2023
As reported by Koinfinans.com, the Shiba Inu is trading at $0.000008187 at press time, according to data from CoinMarketCap. SHIB is up 1% in the last 24 hours. The past month hasn’t been so good for the meme coin.
According to Coinecko data, SHIB has lost 76% last year and 12.3% in the last 30 days. The prolonged bear market wiped out most of the meme coin’s gains.
Analysts at cryptocurrency platform Changelly have revealed their 2023 forecast for the Shiba Inu. According to analysts, the minimum price for the meme coin is expected to be $0.0000111389. In contrast, the average transaction price is expected to be around $0.0000115388 and the maximum possible price to reach is expected to be $0.000133587.
Analysts seem to paint a rather optimistic picture. With major developments and a more comprehensive SHIB burning attempt to be implemented, the uptrend will push the price of the SHIB much higher.
You can follow the current price action here.