shiba inu, benefiting from the positive momentum in the markets rose. Although minor price breaks occurred several times this year, they could not create the desired momentum in the price.
The Shiba Inu did not show much signs of rally for about 10 months and finished poorly in the last three quarters. Hardly affected by macroeconomic factors SHIBmay also perform poorly in Q4.
The Shiba Inu added a zero to its digits for a while yesterday. SHIB fell as low as $0.00000974 this week. However, he was able to recover in a short time. This recovery quickly deleted the zero added as a result. While this rapid recovery is remarkable, it also poses a danger.
Shiba Inu Investors Should Watch Out for Q4
As macroeconomic conditions could create a correction in Bitcoin price cryptocurrency market will be adversely affected. Bitcoin surpassed the $20,000 level after 20 days of struggle, but this increase may not last long. Bitcoin was rejected several times at the $ 21,500 level. As a result, the price may decline.
If Bitcoin falls, all crypto markets fall with it. Usually the price loses all its recent gains. Therefore, the Shiba Inu will lose more than win in Q4 of 2022.
As Koinfinans.com reported, Mobile game ShibaEternity has failed to raise the price of SHIB and the token has been falling since its launch on October 6th.
A small group of investors criticized the game for doing nothing to help the price of the Shiba Inu rise. You can read more about the critique here.
In addition, the Shibarium documents, which are expected to be released at the end of the 3rd quarter, have not yet been published. Unification, the company that created the Shibarium layer-2 network, confirmed in a blog post that the documentation will be out “soon.” However, no uncertain launch date has been announced by both the Unification and SHIB team.
The Shiba Inu has less chance of rising in price in Q4 of 2022. The Shiba Inu is trading at $0.000001049 and is up 5.2% in 24 hours.
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.