The bullish outlook spearheaded by dog-themed meme coins has cooled for some time. Investors, on the other hand, did not fully reveal the direction of the FED, especially after the interest rate decision. The leading meme coin shiba inu maintains a similar appearance. As a matter of fact, the price forecasts for the end of November are a bit ‘pessimistic’.
According to the price predictions shared by the CoinMarketCap community, the Shiba Inu (SHIB) may have a price of $0.00001093 on November 30, 2022.
The price forecast at the end of the year is relatively more optimistic. Shiba Inu will be traded at $0.00001107 by the end of 2022, subject to the choice of community members. Considering that the price is currently around $0.00000102, this means a price increase of 8.46%.
Shiba Inu (SHIB) Price Analysis
The Shiba Inu is trading around $0.0000122. This represents an average drop of 2.63% in the last 24 hours. However, the outlook is better compared to last week. SHIB is up 5.06% from last week. On a monthly basis, the outlook is still ‘green’.
Since the beginning of the year, SHIB has been on the downside with the rest of the crypto industry. It is down 63.36% from its price of $0.000033 on January 1st.
Which Way Will the Next Move Be?
As a result, current estimates Elon MuskIt came after the takeover. In summary, Elon Musk gave a great impetus to dog-themed meme coins. SHIB and DOGE added $2 billion to its value after this news.
On the other hand, Dogecoin price action will also affect Shiba Inu price action. Therefore, it will be very important to follow the DOGE price closely.
As Shytoshi Kusama announced, the layer-2 solution Shibarium may be available soon. This development may receive an important response.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.